Schlumberger (SLB) Cut to “Hold” at Jefferies Financial Group

Schlumberger (NYSE:SLB) was downgraded by analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report released on Friday, The Fly reports.

Several other analysts also recently weighed in on the company. Goldman Sachs Group began coverage on Schlumberger in a research note on Sunday, March 10th. They set a “buy” rating and a $55.00 price target on the stock. Zacks Investment Research raised Schlumberger from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 6th. Credit Suisse Group set a $44.00 price objective on Schlumberger and gave the company a “hold” rating in a report on Friday, January 18th. Royal Bank of Canada set a $58.00 price objective on Schlumberger and gave the company a “buy” rating in a report on Friday, January 18th. Finally, Citigroup decreased their price objective on Schlumberger from $57.00 to $54.00 and set a “buy” rating for the company in a report on Friday, January 4th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $66.00.

Schlumberger stock opened at $43.09 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.87 and a debt-to-equity ratio of 0.40. The stock has a market cap of $59.03 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 2.30 and a beta of 1.34. Schlumberger has a fifty-two week low of $34.99 and a fifty-two week high of $75.43.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 18th. The oil and gas company reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The business had revenue of $8.18 billion for the quarter, compared to the consensus estimate of $8.10 billion. Schlumberger had a return on equity of 6.12% and a net margin of 6.51%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.48 EPS. On average, research analysts forecast that Schlumberger will post 1.59 earnings per share for the current year.

In other Schlumberger news, EVP Peuch Olivier Le sold 15,000 shares of the stock in a transaction that occurred on Tuesday, January 22nd. The stock was sold at an average price of $44.00, for a total transaction of $660,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Patrick Schorn bought 10,000 shares of Schlumberger stock in a transaction on Thursday, December 20th. The shares were purchased at an average cost of $37.55 per share, with a total value of $375,500.00. Following the acquisition, the executive vice president now directly owns 35,000 shares of the company’s stock, valued at $1,314,250. The disclosure for this purchase can be found here. Corporate insiders own 0.48% of the company’s stock.

Several institutional investors have recently made changes to their positions in the business. Highwater Wealth Management LLC purchased a new stake in shares of Schlumberger in the fourth quarter valued at approximately $45,000. IMS Capital Management purchased a new position in Schlumberger in the third quarter worth approximately $46,000. Berman Capital Advisors LLC purchased a new position in Schlumberger in the fourth quarter worth approximately $31,000. Bruderman Asset Management LLC purchased a new position in Schlumberger in the fourth quarter worth approximately $33,000. Finally, Sontag Advisory LLC purchased a new position in Schlumberger in the fourth quarter worth approximately $36,000. 78.31% of the stock is owned by institutional investors and hedge funds.

About Schlumberger

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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