TD Cowen Cuts Schlumberger (NYSE:SLB) Price Target to $53.00

Schlumberger (NYSE:SLB - Get Free Report) had its price target reduced by analysts at TD Cowen from $65.00 to $53.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the oil and gas company's stock. TD Cowen's price objective would suggest a potential upside of 36.70% from the stock's current price.

Several other research firms have also recently weighed in on SLB. Stifel Nicolaus lowered their target price on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, December 23rd. BMO Capital Markets lowered their price objective on shares of Schlumberger from $60.00 to $58.00 and set an "outperform" rating on the stock in a research report on Thursday, October 10th. Morgan Stanley cut their target price on shares of Schlumberger from $65.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, September 16th. Sanford C. Bernstein upgraded shares of Schlumberger to a "strong-buy" rating in a report on Tuesday, November 12th. Finally, Barclays cut their price objective on Schlumberger from $61.00 to $53.00 and set an "overweight" rating for the company 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, Schlumberger presently has an average rating of "Moderate Buy" and an average price target of $57.58.

Schlumberger Price Performance

Schlumberger stock traded down $0.60 during mid-day trading on Wednesday, hitting $38.77. The company's stock had a trading volume of 11,318,049 shares, compared to its average volume of 10,181,454. Schlumberger has a twelve month low of $36.52 and a twelve month high of $55.69. The stock's fifty day moving average price is $41.05 and its two-hundred day moving average price is $43.22. The stock has a market capitalization of $54.75 billion, a P/E ratio of 12.47, a P/E/G ratio of 1.42 and a beta of 1.52. 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 - Get Free Report) last announced its 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. The business had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger's revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 earnings per share. Research analysts forecast that Schlumberger will post 3.39 earnings per share for the current year.

Insider Transactions at Schlumberger

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

Institutional Trading of Schlumberger

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Hawaiian Bank raised its stake in Schlumberger by 2.0% during the fourth quarter. First Hawaiian Bank now owns 53,374 shares of the oil and gas company's stock worth $2,046,000 after acquiring an additional 1,064 shares in the last quarter. Farmers Trust Co. grew its holdings in shares of Schlumberger by 1.0% in the 4th quarter. Farmers Trust Co. now owns 64,128 shares of the oil and gas company's stock worth $2,459,000 after purchasing an additional 666 shares during the last quarter. Douglas Lane & Associates LLC increased its position in shares of Schlumberger by 30.7% during the 4th quarter. Douglas Lane & Associates LLC now owns 1,362,494 shares of the oil and gas company's stock worth $52,238,000 after purchasing an additional 319,968 shares in the last quarter. InvesTrust bought a new position in Schlumberger during the 4th quarter valued at about $3,961,000. Finally, Fulton Bank N.A. lifted its holdings in Schlumberger by 5.9% during the 4th quarter. Fulton Bank N.A. now owns 18,518 shares of the oil and gas company's stock valued at $710,000 after purchasing an additional 1,029 shares during 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.