SLB (NYSE:SLB) Earns Outperform Rating from Analysts at Wolfe Research

Stock analysts at Wolfe Research assumed coverage on shares of SLB (NYSE:SLB) in a research note issued on Wednesday. The brokerage set an “outperform” rating and a $62.00 price target on the oil and gas company’s stock. Wolfe Research’s target price suggests a potential upside of 33.42% from the company’s current price.

A number of other research analysts also recently commented on SLB. Evercore reiterated an “outperform” rating and set a $64.00 target price on shares of SLB in a research report on Monday, April 27th. Royal Bank Of Canada restated an “outperform” rating and issued a $61.00 price target on shares of SLB in a research report on Tuesday, June 16th. TD Cowen reduced their target price on shares of SLB from $66.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Piper Sandler upped their target price on shares of SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Finally, Barclays lifted their price target on SLB from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $59.74.

SLB Stock Up 1.6%

SLB opened at $46.47 on Wednesday. SLB has a 52 week low of $31.64 and a 52 week high of $58.82. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The firm has a 50-day simple moving average of $53.13 and a two-hundred day simple moving average of $49.79. The company has a market capitalization of $69.48 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.85 and a beta of 0.72.

SLB (NYSE:SLB) last announced its quarterly earnings results 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. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. During the same period in the prior year, the company earned $0.72 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. Analysts forecast that SLB will post 2.6 earnings per share for the current fiscal year.

Insider Transactions at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the sale, the director owned 16,953 shares of the company’s stock, valued at $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $56.18, for a total value of $2,998,832.22. Following the transaction, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by insiders.

Institutional Trading of SLB

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fearnley Asset Management AS bought a new stake in shares of SLB in the fourth quarter valued at about $8,574,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in SLB by 4.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock worth $126,303,000 after acquiring an additional 128,660 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in SLB during the 1st quarter valued at about $47,528,000. Cibc World Market Inc. increased its position in SLB by 48.7% during the 4th quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock valued at $52,468,000 after purchasing an additional 447,667 shares during the period. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of SLB by 65.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company’s stock valued at $7,898,000 after purchasing an additional 81,045 shares in the last quarter. Hedge funds and other 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.