Schlumberger (NYSE:SLB) Raised to Overweight at Wells Fargo & Company

Schlumberger (NYSE:SLB) was upgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued on Tuesday, MarketBeat Ratings 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 would suggest a potential upside of 22.26% from the company’s previous close.

Several other brokerages have also recently commented on SLB. TD Cowen increased their price target on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Stifel Nicolaus cut their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. Jefferies Financial Group cut their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. Finally, Piper Sandler started coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.68.

Schlumberger Stock Up 12.6 %

SLB stock opened at $35.99 on Tuesday. 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 stock has a market capitalization of $48.94 billion, a P/E ratio of 11.57, a P/E/G ratio of 10.10 and a beta of 1.11. The business has a 50-day moving average of $40.29 and a 200-day moving average of $41.16. Schlumberger has a fifty-two week low of $31.11 and a fifty-two week high of $54.63.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating 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 period in the prior year, the firm posted $0.86 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Schlumberger will post 3.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 123,097 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the sale, the executive vice president now owns 184,626 shares of the company’s stock, valued at $8,140,160.34. This trade represents a 40.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the sale, the insider now directly owns 235,024 shares in the company, valued at approximately $10,331,655.04. This trade represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 315,905 shares of company stock valued at $13,609,283. 0.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position 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 acquiring an additional 5,225,828 shares in the last quarter. Geode Capital Management LLC increased its holdings in Schlumberger by 4.8% during the 4th 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 purchasing an additional 1,377,134 shares in the last quarter. Deutsche Bank AG increased its holdings in 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 purchasing an additional 3,119,543 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in 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 worth $1,067,254,000 after purchasing an additional 343,261 shares in the last quarter. Finally, Norges Bank bought a new stake in Schlumberger during the 4th quarter worth approximately $735,398,000. 81.99% of the stock is owned by institutional investors and hedge funds.

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.