Schlumberger (NYSE:SLB) Stock Rating Lowered by Griffin Securities

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

A number of other research analysts also recently weighed in on SLB. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Susquehanna reduced their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a report on Thursday, October 3rd. Citigroup dropped their target price on shares of Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Stifel Nicolaus restated a “buy” rating and set a $60.00 price target (down from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Five investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.85.

Schlumberger Price Performance

Shares of SLB opened at $36.83 on Friday. The business’s 50-day moving average is $42.06 and its 200-day moving average is $43.75. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The company has a market capitalization of $52.01 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 1.42 and a beta of 1.51. Schlumberger has a fifty-two week low of $36.52 and a fifty-two week high of $55.69.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $9.16 billion for 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%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 earnings per share. Equities research analysts expect that Schlumberger will post 3.39 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. LRI Investments LLC grew its holdings in shares of Schlumberger by 19.0% in the 2nd quarter. LRI Investments LLC now owns 1,745 shares of the oil and gas company’s stock valued at $82,000 after buying an additional 279 shares during the period. Independence Bank of Kentucky grew its stake in Schlumberger by 50.6% in the second quarter. Independence Bank of Kentucky now owns 21,094 shares of the oil and gas company’s stock valued at $995,000 after acquiring an additional 7,090 shares during the period. Capital Advisors Ltd. LLC increased its holdings in shares of Schlumberger by 18.3% in the second quarter. Capital Advisors Ltd. LLC now owns 2,151 shares of the oil and gas company’s stock worth $101,000 after acquiring an additional 332 shares in the last quarter. Highland Capital Management LLC raised its position in shares of Schlumberger by 79.5% during the second quarter. Highland Capital Management LLC now owns 179,115 shares of the oil and gas company’s stock worth $8,451,000 after purchasing an additional 79,334 shares during the period. Finally, Cypress Capital Group raised its position in shares of Schlumberger by 18.0% during the second quarter. Cypress Capital Group now owns 28,277 shares of the oil and gas company’s stock worth $1,334,000 after purchasing an additional 4,305 shares during the period. 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.