Schlumberger (NYSE:SLB) Upgraded by Wells Fargo & Company to “Overweight” Rating

Schlumberger (NYSE:SLB) was upgraded by equities research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report released on Tuesday,Benzinga reports. The firm currently has a $44.00 price objective on the oil and gas company’s stock, down from their previous price objective of $46.00. Wells Fargo & Company‘s price target suggests a potential upside of 32.75% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. TD Cowen lifted their price target on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. Jefferies Financial Group decreased their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. Citigroup lifted their price objective on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. increased their target price on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.68.

Schlumberger Stock Performance

Shares of NYSE:SLB opened at $33.15 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $40.84 and a 200-day moving average price of $41.38. The company has a market cap of $45.07 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11. Schlumberger has a 12 month low of $31.86 and a 12 month high of $55.65.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 EPS. As a group, equities analysts anticipate that Schlumberger will post 3.38 EPS for the current year.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the sale, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dianne B. Ralston sold 43,161 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total value of $1,897,357.56. Following the completion of the transaction, the insider now owns 235,024 shares in the company, valued at approximately $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 315,905 shares of company stock worth $13,609,283. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Schlumberger by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company’s stock worth $2,913,312,000 after purchasing an additional 5,225,828 shares during the period. Geode Capital Management LLC raised its position in Schlumberger by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company’s stock worth $1,146,195,000 after acquiring an additional 1,377,134 shares during the period. Deutsche Bank AG boosted its stake in shares of Schlumberger by 12.2% during the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company’s stock worth $1,101,804,000 after acquiring an additional 3,119,543 shares during the last quarter. First Eagle Investment Management LLC grew its position in shares of Schlumberger by 1.2% during the 4th quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company’s stock valued at $1,067,254,000 after acquiring an additional 343,261 shares during the period. Finally, Norges Bank purchased a new stake in shares of Schlumberger in the 4th quarter worth $735,398,000. 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.