SLB Limited (NYSE:SLB) Stock Has Consensus Target Price of $61.80 According to Brokerages

Shares of SLB Limited (NYSE:SLB) have received an average recommendation of “Moderate Buy” from the twenty-seven brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $62.38.

Several equities analysts have issued reports on SLB shares. Raymond James Financial dropped their price target on SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, July 10th. UBS Group lifted their price objective on shares of SLB from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, September 14th. Citigroup dropped their price target on SLB from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Barclays upped their price objective on shares of SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Finally, TD Cowen lifted their target price on SLB from $62.00 to $64.00 in a research report on Wednesday, August 5th.

SLB Stock Performance

Shares of SLB opened at $48.92 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $72.61 billion, a P/E ratio of 23.63, a price-to-earnings-growth ratio of 2.68 and a beta of 0.83. The firm’s fifty day simple moving average is $52.98 and its two-hundred day simple moving average is $52.24. SLB has a 12 month low of $31.64 and a 12 month high of $60.46.

SLB (NYSE:SLB) last posted 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. SLB had a return on equity of 14.05% and a net margin of 8.53%. The firm had revenue of $8.97 billion during the quarter, compared to analyst estimates of $8.67 billion. During the same period last year, the company posted $0.74 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, analysts predict that SLB will post 2.49 EPS for the current year.

SLB Announces Dividend

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

Institutional Trading of SLB

Several institutional investors and hedge funds have recently made changes to their positions in SLB. Evergreen Advisors LLC purchased a new stake in SLB in the 1st quarter valued at about $26,000. Costello Asset Management INC boosted its stake in shares of SLB by 93.3% in the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after buying an additional 280 shares during the last quarter. Arlington Trust Co LLC boosted its stake in shares of SLB by 66.5% in the 2nd quarter. Arlington Trust Co LLC now owns 701 shares of the oil and gas company’s stock worth $33,000 after buying an additional 280 shares during the last quarter. MV Capital Management Inc. bought a new position in shares of SLB in the fourth quarter valued at approximately $28,000. Finally, Maryland Capital Advisors Inc. bought a new position in shares of SLB in the second quarter valued at approximately $35,000. Hedge funds and other institutional investors 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.