Schlumberger (NYSE:SLB) Stock Rating Lowered by Wells Fargo & Company

Schlumberger (NYSE:SLB) was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report released on Monday, Marketbeat reports. They presently have a $53.00 target price on the oil and gas company’s stock, down from their prior target price of $68.00. Wells Fargo & Company‘s price target would indicate a potential upside of 11.63% from the stock’s current price.

A number of other brokerages have also recently issued reports on SLB. Stifel Nicolaus reissued a “buy” rating and issued a $64.00 target price on shares of Schlumberger in a report on Monday, April 22nd. BMO Capital Markets cut their price objective on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. TD Cowen lowered their target price on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Benchmark reiterated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Finally, Bank of America reduced their price target on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.72.

Schlumberger Stock Performance

SLB opened at $47.48 on Monday. The stock has a market cap of $67.87 billion, a PE ratio of 15.77, a P/E/G ratio of 0.95 and a beta of 1.60. Schlumberger has a 1 year low of $42.73 and a 1 year high of $62.12. The stock’s 50 day simple moving average is $51.73 and its 200-day simple moving average is $51.93. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. During the same quarter in the prior year, the company posted $0.63 EPS. The business’s revenue was up 12.6% on a year-over-year basis. Sell-side analysts forecast that Schlumberger will post 3.51 EPS for the current year.

Insider Activity

In other Schlumberger news, insider Gavin Rennick sold 20,045 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $48.77, for a total transaction of $977,594.65. Following the transaction, the insider now directly owns 77,563 shares in the company, valued at approximately $3,782,747.51. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gavin Rennick sold 20,045 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $48.77, for a total value of $977,594.65. Following the transaction, the insider now owns 77,563 shares in the company, valued at approximately $3,782,747.51. The disclosure for this sale can be found here. Insiders have sold 76,295 shares of company stock valued at $3,707,595 over the last 90 days. 0.26% of the stock is owned by company insiders.

Institutional Trading of Schlumberger

Institutional investors and hedge funds have recently modified their holdings of the stock. BluePath Capital Management LLC acquired a new stake in Schlumberger during the 3rd quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Schlumberger during the fourth quarter worth about $26,000. Register Financial Advisors LLC bought a new position in shares of Schlumberger during the 1st quarter valued at about $27,000. Transcendent Capital Group LLC acquired a new position in shares of Schlumberger in the 4th quarter valued at approximately $32,000. Finally, Janiczek Wealth Management LLC increased its stake in Schlumberger by 1,180.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 602 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

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.