Schlumberger (NYSE:SLB) Price Target Lowered to $42.00 at Piper Sandler

Schlumberger (NYSE:SLB - Get Free Report) had its price objective decreased by analysts at Piper Sandler from $44.00 to $42.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the oil and gas company's stock. Piper Sandler's price objective would suggest a potential upside of 21.07% from the company's previous close.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company decreased their price objective on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a report on Thursday, June 5th. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Jefferies Financial Group decreased their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Susquehanna decreased their target price on shares of Schlumberger from $46.00 to $44.00 and set a "positive" rating for the company in a research note on Tuesday, July 1st. Finally, Barclays reduced their price objective on shares of Schlumberger from $48.00 to $47.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.56.

Schlumberger Price Performance

NYSE SLB opened at $34.69 on Friday. Schlumberger has a 1 year low of $31.11 and a 1 year high of $50.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93. The company has a market cap of $47.19 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 9.25 and a beta of 1.01. The stock's fifty day moving average price is $34.88 and its 200 day moving average price is $37.56.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.03). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. During the same quarter last year, the company posted $0.85 EPS. As a group, equities research analysts forecast that Schlumberger will post 3.38 earnings per share for the current year.

Insider Transactions at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the sale, the director directly owned 23,525 shares in the company, valued at approximately $789,969.50. The trade was a 17.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Schlumberger

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLB. First Command Advisory Services Inc. lifted its position in shares of Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after buying an additional 477 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in shares of Schlumberger during the 1st quarter worth $33,000. Alpine Bank Wealth Management purchased a new stake in Schlumberger in the first quarter valued at about $34,000. Atticus Wealth Management LLC acquired a new position in shares of Schlumberger in the second quarter valued at about $29,000. Finally, Park Square Financial Group LLC acquired a new stake in Schlumberger during the first quarter worth about $38,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.

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