Wells Fargo & Company Issues Pessimistic Forecast for Schlumberger (NYSE:SLB) Stock Price

Schlumberger (NYSE:SLB - Get Free Report) had its price target decreased by equities researchers at Wells Fargo & Company from $46.00 to $43.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the oil and gas company's stock. Wells Fargo & Company's target price suggests a potential upside of 30.03% from the company's current price.

Several other research firms have also issued reports on SLB. Piper Sandler lowered their price target on Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Susquehanna lowered their price target on Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a research report on Monday, April 28th. Jefferies Financial Group lowered their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research report on Thursday, March 27th. Morgan Stanley lowered their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, Barclays lowered their price target on Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Five equities 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $52.38.

Schlumberger Stock Down 0.5%

Shares of NYSE SLB traded down $0.17 during mid-day trading on Thursday, hitting $33.07. 11,544,133 shares of the stock traded hands, compared to its average volume of 13,496,585. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. Schlumberger has a 52 week low of $31.11 and a 52 week high of $50.94. The company has a market cap of $44.98 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 10.10 and a beta of 1.06. The stock has a fifty day moving average price of $34.78 and a 200-day moving average price of $38.81.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. Research analysts anticipate that Schlumberger will post 3.38 EPS for the current year.

Insider Activity at Schlumberger

In related news, insider Aparna Raman sold 25,133 shares of the company's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. This represents a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the sale, the director now owns 23,525 shares of the company's stock, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Institutional Trading of Schlumberger

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd increased its position in Schlumberger by 32.2% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock worth $2,737,000 after buying an additional 17,405 shares in the last quarter. Geode Capital Management LLC increased 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 buying an additional 1,377,134 shares in the last quarter. Bryn Mawr Capital Management LLC increased its position in Schlumberger by 502.6% in 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 buying an additional 165,162 shares in the last quarter. Miller Financial Services LLC purchased a new stake in Schlumberger in the fourth quarter worth about $375,000. Finally, Ilmarinen Mutual Pension Insurance Co increased its position in Schlumberger by 40.4% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 220,685 shares of the oil and gas company's stock worth $8,461,000 after buying an additional 63,500 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

About Schlumberger

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.