SLB (NYSE:SLB) Stock Price Expected to Rise, Susquehanna Analyst Says

SLB (NYSE:SLB) had its price objective hoisted by analysts at Susquehanna from $52.00 to $58.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s target price would indicate a potential upside of 16.60% from the stock’s previous close.

A number of other brokerages have also issued reports on SLB. UBS Group lifted their target price on shares of SLB from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Sanford C. Bernstein lifted their price objective on SLB from $47.60 to $52.30 and gave the company an “outperform” rating in a research report on Thursday, December 11th. BMO Capital Markets boosted their target price on SLB from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $49.00 price target on shares of SLB in a research note on Wednesday, January 14th. Finally, Evercore ISI set a $54.00 price target on SLB and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $50.81.

SLB Trading Up 1.2%

Shares of NYSE SLB opened at $49.74 on Monday. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. SLB has a one year low of $31.11 and a one year high of $51.67. The business has a 50-day moving average price of $40.14 and a two-hundred day moving average price of $36.71. The firm has a market capitalization of $74.31 billion, a PE ratio of 20.99 and a beta of 0.72.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. SLB had a net margin of 9.45% and a return on equity of 17.45%. The business had revenue of $9.75 billion during the quarter, compared to analyst estimates of $9.54 billion. During the same period in the prior year, the firm earned $0.92 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. As a group, analysts predict that SLB will post 3.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Stephane Biguet sold 38,447 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $36.75, for a total transaction of $1,412,927.25. Following the completion of the transaction, the chief financial officer directly owned 175,690 shares in the company, valued at $6,456,607.50. The trade was a 17.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter John Coleman sold 5,500 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total value of $197,010.00. Following the completion of the sale, the director directly owned 18,671 shares of the company’s stock, valued at $668,795.22. This represents a 22.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 103,947 shares of company stock valued at $3,871,337 in the last three months. Company insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Twin Peaks Wealth Advisors LLC bought a new stake in shares of SLB in the second quarter valued at about $25,000. Root Financial Partners LLC bought a new stake in shares of SLB in the 3rd quarter worth approximately $29,000. Corsicana & Co. bought a new stake in shares of SLB in the 3rd quarter worth approximately $31,000. Strengthening Families & Communities LLC bought a new stake in shares of SLB during the third quarter valued at approximately $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of SLB during the fourth quarter valued at approximately $31,000. Institutional investors own 81.99% of the company’s stock.

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.