SLB (NYSE:SLB) Price Target Lowered to $55.00 at Susquehanna

SLB (NYSE:SLB) had its price objective reduced by stock analysts at Susquehanna from $65.00 to $55.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price objective would suggest a potential upside of 18.36% from the company’s current price.

SLB has been the subject of a number of other research reports. Weiss Ratings lowered shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. BMO Capital Markets increased their price objective on SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Evercore restated an “outperform” rating and set a $64.00 target price on shares of SLB in a research report on Monday, April 27th. JPMorgan Chase & Co. raised their price target on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 price objective on shares of SLB in a research report on Sunday, April 26th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, SLB has an average rating of “Moderate Buy” and an average target price of $59.61.

SLB Stock Performance

Shares of NYSE:SLB opened at $46.47 on Wednesday. The business has a fifty day moving average of $53.13 and a 200-day moving average of $49.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. SLB has a twelve month low of $31.64 and a twelve month high of $58.82. The firm has a market cap of $69.48 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.85 and a beta of 0.72.

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 the consensus estimate 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 net margin of 9.26% and a return on equity of 15.54%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. On average, equities research analysts predict that SLB will post 2.6 EPS for the current fiscal year.

Insider Buying and Selling at SLB

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

Institutional Investors Weigh In On SLB

Several large investors have recently bought and sold shares of SLB. Evergreen Advisors LLC bought a new position in shares of SLB during the first quarter worth about $26,000. MV Capital Management Inc. acquired a new position in SLB during the fourth quarter worth $28,000. Strategic Wealth Advisors LLC bought a new position in SLB in the fourth quarter valued at $30,000. Costello Asset Management INC grew its position in SLB by 93.3% in the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 280 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in SLB during the 4th quarter worth about $31,000. Institutional investors own 81.99% of the company’s stock.

SLB Company Profile

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.