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NEW YORK (TheStreet) -- Schlumberger (SLB) stock is down 0.28% to $72.38 in late morning trading on Monday as lower oil prices pressure shares of the Houston-based oilfield service provider.

WTI crude is declining 1.12% to $39.02 per barrel on the New York Mercantile Exchange, while Brent crude is falling 1.58% to $39.80 per barrel on the Intercontinental Exchange this morning as concerns over growing supplies persist.

On Friday, Schlumberger announced that the Chinese Ministry of Commerce approved the proposed $14.8 billion acquisition of Cameron International Corp. (CAM), a Houston-based oil and gas flow equipment products, systems and services provider.

(Schlumberger is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holdings with a free trial.)

The approval was the last major regulatory clearance needed for the transaction, which is expected to close on Friday, Schlumberger said in a statement.

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Shares of Cameron are up 0.39% to $66.26 this morning.

Separately, Schlumberger has a "hold" rating and a letter grade of C at TheStreet Ratings because of the company's strengths, such as solid financial position based on certain debt and liquidity measures, and its weaknesses, including deteriorating net income, weak operating cash flow and disappointing return on equity.

You can view the full analysis from the report here: SLB

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.

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