SLB (NYSE:SLB) Upgraded at Freedom Broker

SLB (NYSE:SLB) was upgraded by investment analysts at Freedom Broker from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a $48.00 price objective on the oil and gas company’s stock. Freedom Broker‘s price target would indicate a potential downside of 9.61% from the stock’s previous close.

Several other brokerages have also issued reports on SLB. Barclays decreased their price target on SLB from $66.00 to $63.00 and set an “overweight” rating on the stock in a research note on Monday. Susquehanna upped their price objective on SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a research report on Monday, July 27th. Rothschild & Co Redburn increased their target price on shares of SLB from $66.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, September 25th. Sanford C. Bernstein restated an “outperform” rating on shares of SLB in a research note on Tuesday, September 1st. Finally, The Goldman Sachs Group decreased their price target on shares of SLB from $63.00 to $62.00 in a report on Tuesday, July 7th. Twenty-four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.52.

SLB Stock Performance

Shares of SLB stock traded up $0.04 during trading on Monday, reaching $53.10. The company’s stock had a trading volume of 12,762,855 shares, compared to its average volume of 15,820,703. The company has a quick ratio of 1.02, a current ratio of 1.39 and a debt-to-equity ratio of 0.41. The business’s 50-day moving average price is $52.57 and its 200-day moving average price is $52.17. SLB has a 52 week low of $34.65 and a 52 week high of $60.46. The firm has a market cap of $78.81 billion, a PE ratio of 25.78, a P/E/G ratio of 2.92 and a beta of 0.83.

SLB (NYSE:SLB) last issued its quarterly earnings results on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.27 billion. SLB had a return on equity of 13.77% and a net margin of 8.40%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 earnings per share. Equities analysts forecast that SLB will post 2.47 earnings per share for the current year.

Hedge Funds Weigh In On SLB

Institutional investors have recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC raised its stake in shares of SLB by 2.5% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 21,701 shares of the oil and gas company’s stock worth $1,057,000 after purchasing an additional 523 shares during the period. apricus wealth LLC grew its position in SLB by 2.1% during the third quarter. apricus wealth LLC now owns 88,600 shares of the oil and gas company’s stock valued at $4,317,000 after buying an additional 1,860 shares during the period. Blume Capital Management Inc. grew its position in SLB by 1.7% during the third quarter. Blume Capital Management Inc. now owns 79,401 shares of the oil and gas company’s stock valued at $3,868,000 after buying an additional 1,321 shares during the period. Lakewood Asset Management LLC increased its holdings in SLB by 7.9% during the third quarter. Lakewood Asset Management LLC now owns 49,071 shares of the oil and gas company’s stock worth $2,391,000 after buying an additional 3,590 shares during the last quarter. Finally, Smith Chas P & Associates PA Cpas purchased a new stake in SLB during the third quarter worth about $432,000. 81.99% of the stock is owned by institutional investors and hedge funds.

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.