Piper Sandler Upgrades Schlumberger (NYSE:SLB) to "Hold"

Schlumberger (NYSE:SLB - Get Free Report) was upgraded by analysts at Piper Sandler to a "hold" rating in a report released on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus restated a "buy" rating and set a $60.00 price objective (down from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Atb Cap Markets lowered shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. BMO Capital Markets reduced their price target 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. Evercore ISI cut their price objective on Schlumberger from $74.00 to $62.00 and set an "outperform" rating on the stock in a research note on Monday, October 21st. Finally, Bank of America reduced 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. Five 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $58.85.

Schlumberger Stock Down 0.2 %

Shares of SLB stock traded down $0.08 on Wednesday, hitting $36.83. The stock had a trading volume of 36,341,695 shares, compared to its average volume of 11,325,839. The stock's 50 day moving average is $42.06 and its 200-day moving average is $43.75. The firm 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 52-week low of $36.52 and a 52-week high of $55.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48.

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

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of the firm'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 owns 211,937 shares of the company's stock, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Schlumberger

Institutional investors and hedge funds have recently bought and sold shares of the business. ORG Partners LLC lifted its position in shares of Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 484 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Schlumberger in the 3rd quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new position in Schlumberger in the 3rd quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. boosted its stake in Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company's stock worth $40,000 after purchasing an additional 876 shares during the period. Finally, J. Stern & Co. LLP purchased a new position in shares of Schlumberger during the third quarter valued at $47,000. 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.