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

Griffin Securities cut shares of Schlumberger (NYSE:SLB) from a buy rating to a neutral rating in a report released on Friday morning, MarketBeat reports.

SLB has been the topic of a number of other research reports. Evercore ISI dropped their price objective on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Morgan Stanley decreased their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Piper Sandler assumed coverage on Schlumberger in a research note on Thursday. They issued a “neutral” rating and a $47.00 price target on the stock. Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Barclays decreased their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $58.85.

Schlumberger Trading Down 0.2 %

NYSE SLB opened at $36.83 on Friday. The firm 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. 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 has a one year low of $36.52 and a one year high of $55.69. The company’s 50 day moving average price is $42.06 and its 200 day moving average price is $43.75.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping 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 firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 EPS. On average, sell-side analysts predict that Schlumberger will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On Schlumberger

Institutional investors and hedge funds have recently bought and sold shares of the stock. 1832 Asset Management L.P. acquired a new stake in shares of Schlumberger in the 2nd quarter worth approximately $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Schlumberger by 20.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after purchasing an additional 1,916,851 shares during the period. Legal & General Group Plc increased its position in shares of Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after purchasing an additional 1,560,684 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Schlumberger by 14.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock worth $333,445,000 after buying an additional 915,705 shares in the last quarter. Finally, Merewether Investment Management LP acquired a new stake in shares of Schlumberger in the second quarter valued at $42,957,000. Institutional investors own 81.99% of the company’s stock.

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.