Piper Sandler Issues Pessimistic Forecast for SLB (NYSE:SLB) Stock Price

SLB (NYSE:SLB) had its price objective cut by investment analysts at Piper Sandler from $64.00 to $63.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Piper Sandler’s target price points to a potential upside of 27.32% from the company’s current price.

Several other research analysts have also recently issued reports on SLB. Capital One Financial decreased their price objective on shares of SLB from $64.00 to $63.00 and set an “overweight” rating for the company in a report on Tuesday, August 18th. Wolfe Research started coverage on SLB in a research report on Wednesday, July 8th. They set an “outperform” rating and a $62.00 price target on the stock. Rothschild & Co Redburn lifted their target price on SLB from $66.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, September 25th. Raymond James Financial cut their target price on shares of SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. Finally, Barclays reduced their target price on SLB from $67.00 to $66.00 and set an “overweight” rating for the company in a report on Thursday. Twenty-four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $62.31.

SLB Trading Down 0.0%

NYSE:SLB opened at $49.48 on Monday. SLB has a 1 year low of $31.64 and a 1 year high of $60.46. The stock has a market cap of $73.44 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 2.72 and a beta of 0.83. The business has a fifty day moving average of $52.81 and a 200-day moving average of $52.15. 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 issued its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. SLB had a return on equity of 14.05% and a net margin of 8.53%. The company had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same period last year, the company earned $0.74 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities analysts predict that SLB will post 2.48 earnings per share for the current year.

Hedge Funds Weigh In On SLB

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLB. Evergreen Advisors LLC acquired a new stake in shares of SLB in the first quarter worth $26,000. MV Capital Management Inc. purchased a new position in shares of SLB during the fourth quarter valued at $28,000. Costello Asset Management INC grew its holdings in shares of SLB by 93.3% during the first 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 in the last quarter. Arlington Trust Co LLC raised its position in SLB by 66.5% during the second 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. acquired a new position in SLB during the second quarter valued at $35,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Company Profile

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.