Schlumberger (NYSE:SLB - Get Free Report) was downgraded by research analysts at Griffin Securities from a "buy" rating to a "neutral" rating in a note issued to investors on Friday, MarketBeat.com reports.
SLB has been the topic of several other research reports. Wells Fargo & Company dropped their target price on Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a report on Tuesday. BMO Capital Markets lowered their target price on Schlumberger from $60.00 to $58.00 and set an "outperform" rating on the stock in a report on Thursday, October 10th. Piper Sandler initiated coverage on shares of Schlumberger in a report on Thursday. They issued a "neutral" rating and a $47.00 price target for the company. TD Cowen cut their target price on shares of Schlumberger from $68.00 to $65.00 and set a "buy" rating for the company in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Schlumberger from $64.00 to $60.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 1st. Five equities research 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 stock. Based on data from MarketBeat.com, Schlumberger has an average rating of "Moderate Buy" and an average target price of $58.85.
View Our Latest Research Report on SLB
Schlumberger Stock Performance
Shares of NYSE SLB traded down $0.08 during midday trading on Friday, hitting $36.83. 36,341,695 shares of the company's stock were exchanged, compared to its average volume of 11,325,839. Schlumberger has a twelve month low of $36.52 and a twelve month high of $55.69. 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 firm has a market cap of $52.01 billion, a P/E ratio of 11.84, a PEG ratio of 1.42 and a beta of 1.51. The stock's 50 day moving average price is $42.06 and its 200-day moving average price is $43.75.
Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly 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 company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $0.78 earnings per share. Equities research analysts anticipate that Schlumberger will post 3.39 EPS for the current year.
Insider Activity
In related news, EVP Abdellah Merad sold 60,000 shares of the firm'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 transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is owned by insiders.
Institutional Trading of Schlumberger
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLB. Financial Advocates Investment Management raised its holdings in Schlumberger by 3.4% in the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company's stock valued at $309,000 after acquiring an additional 218 shares in the last quarter. Chilton Capital Management LLC raised its stake in shares of Schlumberger by 0.8% in the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company's stock valued at $1,236,000 after purchasing an additional 219 shares in the last quarter. Grove Bank & Trust lifted its position in Schlumberger by 17.4% in the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company's stock worth $64,000 after purchasing an additional 224 shares during the period. Addison Advisors LLC boosted its stake in Schlumberger by 6.5% during the second quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company's stock worth $179,000 after buying an additional 233 shares in the last quarter. Finally, Clearstead Trust LLC increased its holdings in Schlumberger by 0.8% in the 2nd quarter. Clearstead Trust LLC now owns 31,529 shares of the oil and gas company's stock valued at $1,488,000 after buying an additional 237 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.
Schlumberger Company Profile
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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.
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