Schlumberger (NYSE:SLB) Downgraded to Neutral Rating by Griffin Securities

Schlumberger (NYSE:SLB) was downgraded by equities research analysts at Griffin Securities from a “buy” rating to a “neutral” rating in a report issued on Friday, MarketBeat reports.

SLB has been the subject of a number of other research reports. Stifel Nicolaus reissued a “buy” rating and set a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research report on Thursday, October 3rd. 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. Barclays decreased their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and a consensus target price of $58.85.

Schlumberger Stock Down 1.1 %

Schlumberger stock opened at $36.91 on Friday. The business’s 50-day moving average price is $42.22 and its 200 day moving average price is $43.80. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The firm has a market cap of $52.12 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 1.42 and a beta of 1.51. Schlumberger has a 52 week low of $36.52 and a 52 week high of $55.69.

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

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction 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 $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 available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Schlumberger

A number of institutional investors and hedge funds have recently made changes to their positions in SLB. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Schlumberger by 25.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock valued at $31,961,000 after buying an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after purchasing an additional 16,350 shares during the period. Victory Capital Management Inc. grew its stake in shares of Schlumberger by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after purchasing an additional 65,318 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in Schlumberger by 269.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after buying an additional 14,376 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Schlumberger by 0.6% in the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after acquiring an additional 11,813 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Company Profile

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.