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

Schlumberger (NYSE:SLB) was downgraded by equities researchers at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, The Fly reports.

A number of other analysts have also recently weighed in on SLB. Zacks Investment Research upgraded shares of Schlumberger from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 6th. Royal Bank of Canada set a $58.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a report on Friday, January 18th. Goldman Sachs Group assumed coverage on shares of Schlumberger in a report on Sunday, March 10th. They set a “buy” rating and a $55.00 target price for the company. Credit Suisse Group set a $44.00 target price on shares of Schlumberger and gave the stock a “hold” rating in a report on Friday, January 18th. Finally, Barclays set a $58.00 target price on shares of Schlumberger and gave the stock a “hold” rating in a report on Monday, December 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $66.00.

Shares of NYSE:SLB opened at $43.09 on Friday. The company has a market cap of $59.03 billion, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 2.30 and a beta of 1.34. Schlumberger has a 1-year low of $34.99 and a 1-year high of $75.43. The company has a quick ratio of 0.87, a current ratio of 1.17 and a debt-to-equity ratio of 0.40.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, January 18th. The oil and gas company reported $0.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.36. The firm had revenue of $8.18 billion during the quarter, compared to analysts’ expectations of $8.10 billion. Schlumberger had a net margin of 6.51% and a return on equity of 6.12%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share. As a group, sell-side analysts anticipate that Schlumberger will post 1.59 EPS for the current year.

In other news, EVP Patrick Schorn acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 20th. The stock was purchased at an average price of $37.55 per share, with a total value of $375,500.00. Following the purchase, the executive vice president now owns 35,000 shares of the company’s stock, valued at approximately $1,314,250. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Peuch Olivier Le sold 15,000 shares of the firm’s 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 disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Berman Capital Advisors LLC purchased a new stake in Schlumberger in the 4th quarter worth approximately $31,000. Bruderman Asset Management LLC purchased a new stake in Schlumberger in the 4th quarter worth approximately $33,000. Sontag Advisory LLC purchased a new stake in Schlumberger in the 4th quarter worth approximately $36,000. Exane Asset Management purchased a new stake in Schlumberger in the 4th quarter worth approximately $37,000. Finally, Highwater Wealth Management LLC purchased a new stake in Schlumberger in the 4th quarter worth approximately $45,000. 78.31% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Company Profile

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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