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

Schlumberger (NYSE:SLB - Get Free Report) was upgraded by research analysts at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage presently has a $44.00 price target on the oil and gas company's stock, down from their prior price target of $46.00. Wells Fargo & Company's price objective would suggest a potential upside of 29.65% from the stock's previous close.

A number of other research analysts also recently issued reports on the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $57.00 price target on shares of Schlumberger in a report on Tuesday, January 21st. Stifel Nicolaus reduced their target price on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a report on Monday, December 23rd. BMO Capital Markets lowered their price target on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Jefferies Financial Group decreased their target price on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research report on Thursday, March 27th. Finally, Griffin Securities downgraded shares of Schlumberger from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. Five investment 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $54.68.

Schlumberger Stock Up 4.3 %

Shares of SLB traded up $1.40 during midday trading on Tuesday, reaching $33.94. 20,882,247 shares of the stock were exchanged, compared to its average volume of 12,996,115. 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's 50 day moving average is $39.99 and its two-hundred day moving average is $41.03. The company has a market capitalization of $46.15 billion, a P/E ratio of 10.91, a PEG ratio of 10.10 and a beta of 1.11. Schlumberger has a 52 week low of $31.11 and a 52 week high of $54.63.

Schlumberger (NYSE:SLB - Get Free Report) last issued 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 net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion for the quarter, compared to analysts' expectations of $9.24 billion. During the same period in the prior year, the business earned $0.86 EPS. The firm's quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts anticipate that Schlumberger will post 3.38 earnings per share for the current year.

Insider Activity at Schlumberger

In related news, insider Aparna Raman sold 25,133 shares of the firm's stock in a transaction on 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 sale, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. This trade represents a 44.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the transaction, the vice president now directly owns 11,240 shares of the company's stock, valued at $496,808. The trade was a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 315,905 shares of company stock worth $13,609,283 over the last three months. Company insiders own 0.26% of the company's stock.

Hedge Funds Weigh In On Schlumberger

Institutional investors and hedge funds have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky grew its holdings in Schlumberger by 25.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company's stock valued at $31,961,000 after purchasing an additional 156,698 shares during the period. Wilmington Savings Fund Society FSB grew its stake in Schlumberger by 27.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company's stock valued at $3,223,000 after acquiring an additional 16,350 shares during the period. Dynamic Technology Lab Private Ltd increased its holdings in Schlumberger by 32.2% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock worth $2,737,000 after acquiring an additional 17,405 shares in the last quarter. Geode Capital Management LLC grew its position in shares of 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 valued at $1,146,195,000 after purchasing an additional 1,377,134 shares during the period. Finally, Bryn Mawr Capital Management LLC increased its stake in shares of Schlumberger by 502.6% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company's stock worth $7,592,000 after purchasing an additional 165,162 shares in the last quarter. Hedge funds and other 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.