SLB Limited (NYSE:SLB) Stock Has Consensus Price Target of $61.52 According to Brokerages

SLB Limited (NYSE:SLB) has been given an average rating of “Moderate Buy” by the twenty-eight analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and twenty-four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $61.52.

A number of equities research analysts recently weighed in on SLB shares. Susquehanna boosted their price target on shares of SLB from $55.00 to $62.00 and gave the company a “positive” rating in a research report on Monday, July 27th. UBS Group dropped their price objective on SLB from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, October 26th. Capital One Financial cut their target price on SLB from $64.00 to $63.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 18th. Weiss Ratings reissued a “hold (c)” rating on shares of SLB in a report on Friday. Finally, Piper Sandler boosted their target price on SLB from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 26th.

Insider Buying and Selling at SLB

In other SLB news, CAO Howard Guild sold 10,047 shares of the stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $53.65, for a total value of $539,021.55. Following the completion of the transaction, the chief accounting officer directly owned 12,845 shares of the company’s stock, valued at approximately $689,134.25. This trade represents a 43.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Dianne B. Ralston sold 20,986 shares of SLB stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $53.57, for a total transaction of $1,124,220.02. Following the sale, the insider owned 205,053 shares of the company’s stock, valued at approximately $10,984,689.21. The trade was a 9.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SLB. Bank of New York Mellon Corp bought a new position in shares of SLB during the 2nd quarter valued at about $1,339,567,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of SLB by 6,358.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,134,731 shares of the oil and gas company’s stock worth $471,164,000 after purchasing an additional 9,977,804 shares during the last quarter. Cardano Risk Management B.V. bought a new stake in shares of SLB in the 2nd quarter worth approximately $185,474,000. Canoe Financial LP raised its holdings in shares of SLB by 82.3% in the 2nd quarter. Canoe Financial LP now owns 7,730,966 shares of the oil and gas company’s stock worth $358,936,000 after purchasing an additional 3,489,344 shares in the last quarter. Finally, Danske Bank A S raised its holdings in shares of SLB by 2,928.3% in the 2nd quarter. Danske Bank A S now owns 2,825,743 shares of the oil and gas company’s stock worth $131,369,000 after purchasing an additional 2,732,433 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Trading Down 2.8%

NYSE:SLB opened at $52.25 on Friday. The stock has a 50-day simple moving average of $52.47 and a 200-day simple moving average of $51.40. The stock has a market cap of $77.55 billion, a P/E ratio of 25.36, a P/E/G ratio of 2.95 and a beta of 0.83. SLB has a 1 year low of $34.65 and a 1 year high of $60.46. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.39.

SLB (NYSE:SLB) last announced its quarterly earnings results on Friday, October 23rd. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. SLB had a net margin of 8.40% and a return on equity of 13.77%. The company had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the firm posted $0.69 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. As a group, analysts anticipate that SLB will post 2.46 earnings per share for the current fiscal year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Wednesday, December 2nd will be given a dividend of $0.2950 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.18 annualized dividend and a yield of 2.3%. SLB’s payout ratio is 57.28%.

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.