Schlumberger (SLB) Shares Soar 12.61% After Wells Fargo Upgrade

Schlumberger (SLB) shares surged 12.61% today, marking a significant rebound from their lowest level since July 2022, with an intraday decline of 2.63%.

On April 8, 2025, Wells Fargo upgraded Schlumberger's rating from Equal-Weight to Overweight. This upgrade is likely to boost investor confidence, potentially driving the stock price higher. The positive sentiment from the upgrade could outweigh other negative factors, such as insider selling and target price reductions.

On March 28, 2025, Aparna Raman, Chief Strategy & Marketing Officer, sold 25,133 shares of Schlumberger. This insider selling could be seen as a negative signal by investors, potentially causing some concern about the company's future prospects. However, the impact of insider selling may be mitigated by the recent upgrade from Wells Fargo.

UBS reduced its target price for Schlumberger from $51 to $44. This reduction in target price from a major financial institution could negatively impact investor perception and influence the stock price. However, the recent upgrade from Wells Fargo and the overall market sentiment may offset this negative impact.