SLB Limited (NYSE:SLB) Receives $58.95 Average Target Price from Analysts

SLB Limited (NYSE:SLB) has received an average rating of “Moderate Buy” from the twenty-three brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $59.7368.

Several analysts have recently issued reports on SLB shares. TD Cowen increased their target price on SLB from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Weiss Ratings lowered SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Stifel Nicolaus increased their target price on SLB from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Royal Bank Of Canada reissued an “outperform” rating and set a $61.00 target price on shares of SLB in a report on Monday, April 27th. Finally, Argus raised SLB to a “strong-buy” rating in a report on Monday, January 26th.

Insider Buying and Selling at SLB

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

Institutional Trading of SLB

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of SLB by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock worth $7,156,177,000 after buying an additional 1,080,999 shares during the last quarter. State Street Corp lifted its position in shares of SLB by 1.0% during the 4th quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company’s stock worth $3,263,998,000 after buying an additional 799,218 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of SLB by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company’s stock worth $2,072,844,000 after buying an additional 1,458,650 shares during the last quarter. Morgan Stanley lifted its position in shares of SLB by 1.3% during the 4th quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company’s stock worth $1,423,716,000 after buying an additional 482,533 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of SLB by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock worth $1,292,993,000 after buying an additional 510,747 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

SLB Stock Performance

Shares of NYSE SLB opened at $55.37 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The stock’s fifty day moving average price is $51.15 and its two-hundred day moving average price is $45.49. SLB has a one year low of $31.64 and a one year high of $57.20. The firm has a market cap of $82.78 billion, a price-to-earnings ratio of 24.18, a P/E/G ratio of 3.92 and a beta of 0.72.

SLB (NYSE:SLB) last issued its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 EPS. On average, equities analysts forecast that SLB will post 2.61 EPS for the current year.

SLB Dividend Announcement

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

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.