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

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

A number of other brokerages also recently commented on SLB. JPMorgan Chase & Co. decreased their price objective on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Dbs Bank initiated coverage on Schlumberger in a research note on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price for the company. Finally, Piper Sandler started coverage on Schlumberger in a research note on Thursday. They issued a “neutral” rating and a $47.00 price target on the stock. Five research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $58.85.

Schlumberger Trading Down 0.2 %

NYSE SLB opened at $36.83 on Friday. 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. The stock’s 50 day moving average price is $42.06 and its two-hundred day moving average price is $43.75. The stock has a market capitalization of $52.01 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 1.42 and a beta of 1.51.

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

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SLB. ORG Partners LLC lifted its holdings in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in Schlumberger during the 3rd quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new position in Schlumberger in the 3rd quarter valued at approximately $37,000. DiNuzzo Private Wealth Inc. boosted its position in Schlumberger by 1,068.3% in the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP bought a new stake in shares of Schlumberger during the third quarter worth $47,000. 81.99% of the stock is owned by institutional investors.

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.