Piper Sandler Upgrades Schlumberger (NYSE:SLB) to Hold

Schlumberger (NYSE:SLB) was upgraded by stock analysts at Piper Sandler to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the company. Susquehanna decreased their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Evercore ISI reduced their target price on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Wells Fargo & Company reduced their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, JPMorgan Chase & Co. dropped their price target on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Four 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.85.

Schlumberger Stock Down 1.1 %

SLB opened at $36.91 on Wednesday. Schlumberger has a fifty-two week low of $36.52 and a fifty-two week 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 company’s 50-day moving average is $42.22 and its 200 day moving average is $43.80. The firm has a market capitalization of $52.12 billion, a P/E ratio of 11.87, a PEG ratio of 1.42 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced its 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. The firm had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 EPS. Research analysts expect that Schlumberger will post 3.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

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

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.