Jefferies Financial Group Cuts Schlumberger (NYSE:SLB) Price Target to $61.00

Schlumberger (NYSE:SLB) had its price target dropped by Jefferies Financial Group from $64.00 to $61.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 58.94% from the stock’s previous close.

A number of other brokerages have also recently weighed in on SLB. Susquehanna dropped their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. BMO Capital Markets lowered their price objective on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Morgan Stanley cut their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Citigroup cut their price objective on Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Barclays dropped their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $58.25.

Schlumberger Trading Down 0.1 %

NYSE SLB traded down $0.02 on Friday, reaching $38.38. The stock had a trading volume of 3,495,943 shares, compared to its average volume of 7,407,003. Schlumberger has a 12-month low of $36.52 and a 12-month high of $55.69. The stock has a fifty day moving average price of $41.19 and a two-hundred day moving average price of $43.37. The firm has a market capitalization of $54.20 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 1.42 and a beta of 1.51. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter last year, the company posted $0.78 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Schlumberger will post 3.39 EPS for the current fiscal year.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. ORG Partners LLC raised its holdings in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares during the last quarter. Prospera Private Wealth LLC bought a new position in shares of Schlumberger in the 3rd quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Schlumberger in the third quarter valued at about $37,000. DiNuzzo Private Wealth Inc. raised its holdings in Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP bought a new position in Schlumberger in the third quarter valued at approximately $47,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.