Schlumberger Limited. (SLB) is Downgraded by Societe Generale to Hold

Schlumberger Limited. (SLB) was Downgraded by Societe Generale to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Societe Generale advised their investors in a research report released on Apr 28, 2016.

Many Wall Street Analysts have commented on Schlumberger Limited.. Shares were Reiterated by Barclays on Apr 26, 2016 to “Overweight” and Lowered the Price Target to $ 92 from a previous price target of $93 .Company shares were Reiterated by Cowen on Apr 25, 2016 to “Outperform”, Firm has raised the Price Target to $ 85 from a previous price target of $75 .Company shares were Reiterated by Nomura on Apr 25, 2016 to “Buy”, Firm has raised the Price Target to $ 88 from a previous price target of $81 .

On the company’s financial health, Schlumberger Limited. reported $0.40 EPS for the quarter, based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus estimate of $0.40. The company had revenue of $6520.00 million for the quarter, compared to analysts expectations of $6533.64 million. The company’s revenue was down -36.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.06 EPS.

Schlumberger Limited. opened for trading at $79.78 and hit $81.18 on the upside on Wednesday, eventually ending the session at $80.6, with a gain of 1.77% or 1.4 points. The heightened volatility saw the trading volume jump to 73,11,719 shares. Company has a market cap of $101,263 M.

In a different news, on Apr 27, 2016, Sherif Foda (President Production Group) sold 3,500 shares at $78.92 per share price. According to the SEC, on Jan 25, 2016, Mark Danton (Vice President-Director of Tax) sold 2,294 shares at $65.92 per share price. On Jan 25, 2016, Howard Guild (Chief Accounting Officer) sold 2,305 shares at $65.86 per share price, according to the Form-4 filing with the securities and exchange commission.

Schlumberger N.V. is a supplier of technology integrated project management and information solutions to the international oil and gas exploration and production industry. The Company operates in the oilfield service markets through three Groups which include Reservoir Characterization Group which consists of the principal technologies involved in finding and defining hydrocarbon resources; Drilling Group which consists of the principal technologies involved in the drilling and positioning of oil and gas wells and Production Group which consists of the principal technologies involved in the lifetime production of oil and gas reservoirs and includes Well Services Completions Artificial Lift Well Intervention Water Services and the Schlumberger Production Management field production projects.

Schlumberger Limited.

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