Schlumberger (NYSE:SLB) Price Target Lowered to $62.00 at Evercore ISI

Schlumberger (NYSE:SLB) had its price target lowered by research analysts at Evercore ISI from $74.00 to $62.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the oil and gas company’s stock. Evercore ISI’s price objective would indicate a potential upside of 45.99% from the stock’s current price.

SLB has been the topic of several other research reports. Bank of America lowered their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Piper Sandler reduced their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a research note on Monday. Wells Fargo & Company cut their price target on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Finally, Dbs Bank assumed coverage on shares of Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective for the company. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.03.

Schlumberger Stock Performance

SLB stock traded up $0.55 during mid-day trading on Monday, hitting $42.47. The company had a trading volume of 3,968,995 shares, compared to its average volume of 11,053,511. The firm has a market cap of $60.70 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 0.96 and a beta of 1.51. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. Schlumberger has a 12 month low of $38.66 and a 12 month high of $59.05. The stock’s fifty day moving average price is $43.10 and its two-hundred day moving average price is $45.95.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 earnings per share. On average, analysts forecast that Schlumberger will post 3.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Schlumberger

Large investors have recently added to or reduced their stakes in the stock. &PARTNERS purchased a new position in shares of Schlumberger during the 1st quarter worth $265,000. Strategic Planning Group LLC lifted its stake in shares of Schlumberger by 20.1% during the 1st quarter. Strategic Planning Group LLC now owns 11,481 shares of the oil and gas company’s stock valued at $629,000 after buying an additional 1,921 shares in the last quarter. Community Bank of Raymore purchased a new position in shares of Schlumberger during the 1st quarter valued at $243,000. First Financial Corp IN lifted its stake in shares of Schlumberger by 14.2% during the 1st quarter. First Financial Corp IN now owns 3,105 shares of the oil and gas company’s stock valued at $170,000 after buying an additional 387 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its stake in shares of Schlumberger by 5.6% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 13,944 shares of the oil and gas company’s stock valued at $764,000 after buying an additional 745 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

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.