SLB (NYSE:SLB) Stock Rating Upgraded by Freedom Broker

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

A number of other analysts have also recently weighed in on the company. Raymond James Financial cut their price objective on shares of SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. Barclays dropped their target price on shares of SLB from $66.00 to $63.00 and set an “overweight” rating on the stock in a research report on Monday. The Goldman Sachs Group cut their price target on shares of SLB from $63.00 to $62.00 in a research note on Tuesday, July 7th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of SLB in a report on Tuesday, September 1st. Finally, Citigroup decreased their price target on shares of SLB from $63.00 to $62.00 and set a “buy” rating for the company in a report on Monday, October 19th. Twenty-four 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 company. According to MarketBeat, SLB presently has a consensus rating of “Moderate Buy” and an average target price of $61.52.

SLB Stock Up 0.1%

Shares of SLB stock traded up $0.04 during trading on Monday, hitting $53.10. 12,787,201 shares of the stock traded hands, compared to its average volume of 15,844,138. The company has a current ratio of 1.39, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. SLB has a 52-week low of $34.65 and a 52-week high of $60.46. The stock’s fifty day simple moving average is $52.57 and its 200 day simple moving average is $52.17. The firm has a market cap of $78.81 billion, a P/E ratio of 25.78, a price-to-earnings-growth ratio of 2.92 and a beta of 0.83.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Saudi Central Bank lifted its stake in shares of SLB by 90.6% in the second quarter. Saudi Central Bank now owns 105,079 shares of the oil and gas company’s stock worth $4,885,000 after buying an additional 49,937 shares in the last quarter. Bank of America Corp DE grew its stake in SLB by 11.1% during the 1st quarter. Bank of America Corp DE now owns 10,536,104 shares of the oil and gas company’s stock valued at $541,450,000 after acquiring an additional 1,052,239 shares in the last quarter. Nan Shan Life Insurance Co. Ltd. raised its holdings in SLB by 513.8% in the 2nd quarter. Nan Shan Life Insurance Co. Ltd. now owns 736,544 shares of the oil and gas company’s stock valued at $34,242,000 after acquiring an additional 616,544 shares during the last quarter. State Street Corp raised its holdings in SLB by 0.8% in the 2nd quarter. State Street Corp now owns 91,222,641 shares of the oil and gas company’s stock valued at $4,267,269,000 after acquiring an additional 722,060 shares during the last quarter. Finally, QRG Capital Management Inc. raised its holdings in SLB by 707.9% in the 1st quarter. QRG Capital Management Inc. now owns 115,079 shares of the oil and gas company’s stock valued at $5,914,000 after acquiring an additional 100,834 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB News Roundup

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB reported third-quarter EPS of $0.64, above the $0.62 consensus estimate, while revenue of $9.45 billion exceeded expectations of $9.27 billion and rose 5.8% year over year. Positive cash flow and growth across regions—including a 13% sequential increase in Middle East revenue—helped support the recent share advance. SLB revenue rises 5% as cash flow stays positive in quarter
• Positive Sentiment: Management cited broad-based momentum in production systems, subsea operations, North America, offshore international markets and digital services. The ChampionX integration and a growing subsea backlog were identified as important longer-term growth drivers. The 5 most interesting analyst questions from SLB’s Q3 earnings call
• Positive Sentiment: SLB opened a Canadian modular data-center infrastructure facility intended to support Meta projects. The initiative expands the company’s exposure beyond oilfield services and could provide additional growth tied to hyperscale data-center demand. SLB opens Canada facility after data center win

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.