Schlumberger (NYSE:SLB) Upgraded at Wells Fargo & Company

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

A number of other equities analysts have also weighed in on SLB. JPMorgan Chase & Co. upped their target price on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. TD Cowen lifted their price objective on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Piper Sandler initiated coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Finally, Jefferies Financial Group dropped their price objective 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. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.68.

Schlumberger Stock Performance

Shares of NYSE SLB opened at $33.15 on Tuesday. The stock has a market cap of $45.07 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The firm has a fifty day moving average price of $40.84 and a 200-day moving average price of $41.38. Schlumberger has a 1 year low of $31.86 and a 1 year high of $55.65.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter last year, the business posted $0.86 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. Equities analysts anticipate that Schlumberger will post 3.38 earnings per share for the current fiscal year.

Insider Transactions at Schlumberger

In related news, insider Gavin Rennick sold 26,990 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total value of $1,104,430.80. Following the completion of the sale, the insider now directly owns 53,584 shares of the company’s stock, valued at $2,192,657.28. This represents a 33.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Aparna Raman sold 25,133 shares of the firm’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the transaction, the insider now directly owns 31,031 shares in the company, valued at $1,311,990.68. This trade represents a 44.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 315,905 shares of company stock worth $13,609,283. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Several institutional investors have recently bought and sold shares of SLB. CX Institutional raised its position in shares of Schlumberger by 2.4% in the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock worth $398,000 after acquiring an additional 244 shares in the last quarter. TCW Group Inc. grew its stake in Schlumberger by 1.3% in the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock valued at $759,000 after purchasing an additional 259 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in Schlumberger by 0.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock worth $2,174,000 after purchasing an additional 262 shares in the last quarter. Vident Advisory LLC lifted its position in shares of Schlumberger by 1.0% during the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company’s stock valued at $1,067,000 after buying an additional 273 shares during the last quarter. Finally, Glen Eagle Advisors LLC boosted its holdings in shares of Schlumberger by 3.7% in the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company’s stock valued at $301,000 after buying an additional 282 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other 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.