SLB's (SLB) Hold (C-) Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "hold (C-)" rating for SLB, despite other analysts upgrading the stock to ratings as high as "strong-buy".
• SLB reported $0.69 earnings per share for the last quarter, exceeding estimates, but its revenue was down 2.5% year-over-year.
• Insider Dianne B. Ralston sold 39,727 shares of SLB, decreasing her position by 16.42%, which was disclosed to the SEC.

SLB (NYSE:SLB - Get Free Report)'s stock had its "hold (c-)" rating reissued by stock analysts at Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

SLB has been the topic of a number of other reports. Atb Cap Markets upgraded SLB from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Piper Sandler set a $42.00 price objective on SLB and gave the stock an "overweight" rating in a report on Monday. Citigroup increased their price objective on SLB from $46.00 to $47.00 and gave the stock a "buy" rating in a report on Tuesday. Stifel Nicolaus decreased their price objective on SLB from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Finally, Barclays increased their price objective on SLB from $46.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, SLB presently has an average rating of "Moderate Buy" and a consensus target price of $51.69.

SLB Stock Down 0.5%

Shares of SLB stock opened at $35.84 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. The business's 50 day simple moving average is $34.66 and its 200-day simple moving average is $34.53. The stock has a market capitalization of $53.54 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 9.96 and a beta of 0.97. SLB has a twelve month low of $31.11 and a twelve month high of $44.97.

SLB (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.02. The business had revenue of $8.93 billion for the quarter, compared to analysts' expectations of $8.99 billion. SLB had a return on equity of 18.97% and a net margin of 10.34%.The business's quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS. Equities research analysts forecast that SLB will post 3.38 earnings per share for the current year.

Insider Transactions at SLB

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.22% of the company's stock.

Hedge Funds Weigh In On SLB

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLB. Charles Schwab Investment Management Inc. boosted its stake in SLB by 478.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock valued at $1,994,674,000 after purchasing an additional 39,474,501 shares in the last quarter. Vanguard Group Inc. boosted its stake in SLB by 14.2% during the 2nd quarter. Vanguard Group Inc. now owns 150,317,566 shares of the oil and gas company's stock valued at $5,080,734,000 after purchasing an additional 18,672,021 shares in the last quarter. Norges Bank bought a new position in SLB during the 2nd quarter valued at $618,697,000. Franklin Resources Inc. boosted its stake in SLB by 30.4% during the 2nd quarter. Franklin Resources Inc. now owns 20,233,749 shares of the oil and gas company's stock valued at $683,901,000 after purchasing an additional 4,719,852 shares in the last quarter. Finally, Boston Partners boosted its stake in shares of SLB by 27.7% during the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock worth $824,160,000 after acquiring an additional 4,300,222 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

SLB 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.