SLB (NYSE:SLB) Price Target Raised to $66.00

SLB (NYSE:SLB) had its target price raised by Evercore from $63.00 to $66.00 in a research report sent to investors on Thursday.

A number of other equities analysts have also weighed in on SLB. Zacks Research upgraded SLB from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Stifel Nicolaus upped their price objective on shares of SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. TD Cowen raised their target price on shares of SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Sanford C. Bernstein reissued an “outperform” rating on shares of SLB in a research report on Tuesday, September 1st. Finally, Morgan Stanley upped their price target on shares of SLB from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Twenty-four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.38.

SLB Price Performance

Shares of NYSE:SLB opened at $48.92 on Thursday. SLB has a one year low of $31.64 and a one year high of $60.46. The stock has a fifty day moving average of $52.98 and a 200-day moving average of $52.24. The company has a market capitalization of $72.61 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 2.68 and a beta of 0.83. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44.

SLB (NYSE:SLB) last released its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. The business had revenue of $8.97 billion during the quarter, compared to analyst estimates of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company posted $0.74 EPS. As a group, equities analysts anticipate that SLB will post 2.49 EPS for the current fiscal year.

SLB Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Wednesday, September 2nd were given a dividend of $0.2950 per share. The ex-dividend date was Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a yield of 2.4%. SLB’s dividend payout ratio (DPR) is presently 57.00%.

Hedge Funds Weigh In On SLB

A number of large investors have recently made changes to their positions in the business. Evergreen Advisors LLC purchased a new position in SLB during the first quarter valued at approximately $26,000. MV Capital Management Inc. purchased a new stake in SLB in the 4th quarter worth approximately $28,000. Costello Asset Management INC boosted its stake 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 valued at $30,000 after buying an additional 280 shares during the period. Arlington Trust Co LLC boosted its stake in shares of SLB by 66.5% during the 2nd quarter. Arlington Trust Co LLC now owns 701 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 280 shares during the period. Finally, Maryland Capital Advisors Inc. purchased a new position in shares of SLB during the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Company Profile

SLB, formerly known as Schlumberger, is a global technology and services company serving the energy industry. The company provides equipment, technology, and technical expertise used to evaluate underground reservoirs, drill and complete wells, and optimize oil and natural gas production.

Its offerings include seismic and subsurface evaluation, well construction and drilling services, well completions, production systems, reservoir management, artificial lift, and related software and digital solutions.