SLB Limited (NYSE:SLB) Receives $52.00 Average Price Target from Brokerages

Shares of SLB Limited (NYSE:SLB) have been assigned a consensus recommendation of “Moderate Buy” from the twenty ratings firms that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $51.6875.

A number of analysts have recently issued reports on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a report on Wednesday, October 8th. Melius assumed coverage on SLB in a report on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price for the company. Jefferies Financial Group decreased their target price on SLB from $54.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, June 26th. Piper Sandler set a $42.00 target price on SLB and gave the stock an “overweight” rating in a report on Monday. Finally, Citigroup boosted their target price on SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday.

Insider Buying and Selling at SLB

In other news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.22% of the stock is owned by insiders.

Institutional Investors Weigh In On SLB

Institutional investors and hedge funds have recently modified their holdings of the stock. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of SLB in the second quarter worth about $25,000. First Command Advisory Services Inc. boosted its position in shares of SLB by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after buying an additional 477 shares during the period. Atticus Wealth Management LLC purchased a new stake in shares of SLB in the second quarter worth about $29,000. Corsicana & Co. purchased a new stake in shares of SLB in the third quarter worth about $31,000. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of SLB in the first quarter worth about $33,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

SLB stock opened at $36.06 on Tuesday. The firm has a market capitalization of $53.86 billion, a P/E ratio of 13.92, a PEG ratio of 9.66 and a beta of 0.97. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average price of $34.61 and a 200 day moving average price of $34.51. SLB has a 52 week low of $31.11 and a 52 week high of $44.97.

SLB (NYSE:SLB) last released its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.99 billion. SLB had a return on equity of 18.97% and a net margin of 10.34%.The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business posted $0.89 EPS. Equities research analysts anticipate that SLB will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be given a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. SLB’s dividend payout ratio is presently 44.02%.

About SLB

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.