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

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

Other analysts have also recently issued research reports about the company. TD Cowen lowered their price target on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Benchmark reissued a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 target price on shares of Schlumberger in a report on Monday, April 22nd. BMO Capital Markets lowered their price target on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research report on Monday, April 22nd. Finally, Bank of America cut their price objective on Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.72.

Schlumberger Trading Down 3.5 %

Schlumberger stock 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. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average price of $51.73 and a 200 day moving average price of $51.93. Schlumberger has a 52 week low of $42.73 and a 52 week high of $62.12.

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 the consensus estimate of $0.75. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Equities research analysts predict that Schlumberger will post 3.51 earnings per share for the current fiscal year.

Insider Transactions at Schlumberger

In other news, insider Gavin Rennick sold 20,045 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $48.77, for a total transaction of $977,594.65. Following the completion of the sale, the insider now owns 77,563 shares of the company’s stock, valued at $3,782,747.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Gavin Rennick sold 20,045 shares of Schlumberger 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 completion of the transaction, the insider now directly owns 77,563 shares in the company, valued at $3,782,747.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the transaction, the chief financial officer now directly owns 242,932 shares in the company, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,295 shares of company stock valued at $3,707,595. 0.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SLB. Private Advisor Group LLC increased its position in Schlumberger by 18.4% in the first quarter. Private Advisor Group LLC now owns 132,327 shares of the oil and gas company’s stock worth $7,253,000 after buying an additional 20,583 shares during the period. J.W. Cole Advisors Inc. grew its position in shares of Schlumberger by 13.9% during the first quarter. J.W. Cole Advisors Inc. now owns 17,340 shares of the oil and gas company’s stock worth $950,000 after acquiring an additional 2,118 shares during the last quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. increased its holdings in shares of Schlumberger by 329.0% in the 1st quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 47,835 shares of the oil and gas company’s stock worth $2,622,000 after acquiring an additional 36,685 shares during the period. Norden Group LLC bought a new stake in Schlumberger in the 1st quarter valued at about $253,000. Finally, SpiderRock Advisors LLC acquired a new position in Schlumberger during the 1st quarter valued at about $2,372,000. 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.