Schlumberger (NYSE:SLB) Given New $64.00 Price Target at BMO Capital Markets

Schlumberger (NYSE:SLB) had its price target dropped by equities researchers at BMO Capital Markets from $66.00 to $64.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the oil and gas company’s stock. BMO Capital Markets’ target price suggests a potential upside of 29.16% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. TD Cowen decreased their price objective on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Monday. Benchmark reissued a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research report on Wednesday, April 3rd. Bank of America decreased their price objective on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Monday. Susquehanna reissued a “positive” rating and issued a $77.00 price objective on shares of Schlumberger in a research report on Monday, April 8th. Finally, Wells Fargo & Company lifted their price objective on shares of Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $69.67.

Schlumberger Trading Up 0.1 %

Shares of NYSE:SLB opened at $49.55 on Monday. Schlumberger has a 12 month low of $42.73 and a 12 month high of $62.12. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The company’s fifty day simple moving average is $51.68 and its 200 day simple moving average is $52.28. The firm has a market cap of $70.73 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 0.95 and a beta of 1.60.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 earnings per share. As a group, research analysts forecast that Schlumberger will post 3.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the transaction, the chief financial officer now directly owns 249,182 shares in the company, valued at approximately $13,151,825.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the transaction, the chief financial officer now directly owns 249,182 shares in the company, valued at approximately $13,151,825.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders sold 110,768 shares of company stock worth $5,511,037 in the last quarter. 0.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Schlumberger

Several hedge funds and other institutional investors have recently made changes to their positions in SLB. BluePath Capital Management LLC bought a new stake in shares of Schlumberger during the 3rd quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Schlumberger during the 4th quarter worth approximately $26,000. Register Financial Advisors LLC bought a new stake in Schlumberger during the 1st quarter worth approximately $27,000. MCF Advisors LLC grew its holdings in Schlumberger by 1,355.9% during the 3rd quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 461 shares during the last quarter. Finally, Transcendent Capital Group LLC bought a new stake in Schlumberger during the 4th quarter worth approximately $32,000. 81.99% of the stock is owned by institutional investors.

About Schlumberger

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.