Brokerages Set SLB Limited (NYSE:SLB) Price Target at $59.74

Shares of SLB Limited (NYSE:SLB) have earned an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, sixteen have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $60.6667.

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of SLB in a research note on Monday, April 27th. Morgan Stanley set a $57.00 price objective on SLB in a research note on Monday, April 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 price target on shares of SLB in a report on Sunday, April 26th. Piper Sandler lifted their price objective on shares of SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Finally, JPMorgan Chase & Co. boosted their target price on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, April 27th.

Insider Buying and Selling at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the sale, the executive vice president directly owned 47,421 shares in the company, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the transaction, the director directly owned 16,953 shares of the company’s stock, valued at $921,056.49. The trade was a 10.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.16% of the company’s stock.

Institutional Trading of SLB

Several institutional investors have recently modified their holdings of SLB. Evergreen Advisors LLC acquired a new stake in shares of SLB in the first quarter worth approximately $26,000. Costello Asset Management INC boosted its holdings in shares of SLB by 93.3% during the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 280 shares during the last quarter. MV Capital Management Inc. acquired a new stake in shares of SLB in the fourth quarter valued at approximately $28,000. Sound Income Strategies LLC lifted its position in SLB by 71.1% during the first quarter. Sound Income Strategies LLC now owns 780 shares of the oil and gas company’s stock worth $39,000 after buying an additional 324 shares in the last quarter. Finally, Steph & Co. raised its position in shares of SLB by 97.5% during the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 394 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Trading Up 0.7%

NYSE:SLB opened at $56.22 on Wednesday. The stock has a market capitalization of $84.05 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 2.29 and a beta of 0.70. SLB has a 52 week low of $31.64 and a 52 week high of $58.82. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $54.35 and a 200 day moving average of $48.17.

SLB (NYSE:SLB) last issued its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 earnings per share. As a group, sell-side analysts anticipate that SLB will post 2.62 earnings per share for the current fiscal year.

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio is currently 51.53%.

About SLB

SLB (NYSE: SLB), historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB’s product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.