Jefferies Financial Group Issues Pessimistic Forecast for Schlumberger (NYSE:SLB) Stock Price

Schlumberger (NYSE:SLB) had its price objective dropped by investment analysts at Jefferies Financial Group from $60.00 to $59.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Jefferies Financial Group’s target price indicates a potential upside of 38.06% from the company’s previous close.

A number of other research firms have also issued reports on SLB. Wells Fargo & Company reduced their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Barclays reduced their price objective on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Piper Sandler assumed coverage on Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price on the stock. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Finally, Citigroup lifted their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.69.

Schlumberger Stock Performance

Shares of NYSE:SLB traded up $0.32 during trading on Thursday, hitting $42.74. 6,177,503 shares of the company traded hands, compared to its average volume of 11,734,145. The stock has a market capitalization of $58.11 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 10.10 and a beta of 1.47. Schlumberger has a one year low of $36.52 and a one year high of $55.69. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The business’s fifty day moving average is $41.30 and its 200-day moving average is $41.43.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same period last year, the company earned $0.86 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts predict that Schlumberger will post 3.38 earnings per share for the current fiscal year.

Insider Transactions at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the transaction, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Dianne B. Ralston sold 43,161 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the completion of the sale, the insider now owns 235,024 shares of the company’s stock, valued at $10,331,655.04. The trade was a 15.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 290,772 shares of company stock valued at $12,546,660 over the last three months. Company insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SLB. YANKCOM Partnership purchased a new position in Schlumberger during the 4th quarter valued at about $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Schlumberger during the fourth quarter worth approximately $32,000. Golden State Wealth Management LLC purchased a new position in Schlumberger during the fourth quarter valued at approximately $34,000. Hager Investment Management Services LLC acquired a new position in Schlumberger in the 4th quarter valued at approximately $38,000. Finally, True Wealth Design LLC lifted its position in Schlumberger by 584.7% in the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock worth $38,000 after buying an additional 842 shares in the last quarter. 81.99% of the stock is 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.