Wall Street Zen Upgrades SLB (NYSE:SLB) to “Buy”

SLB (NYSE:SLB) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also weighed in on the stock. Piper Sandler upped their price objective on shares of SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Susquehanna upped their price target on shares of SLB from $52.00 to $58.00 and gave the stock a “positive” rating in a research report on Monday, January 26th. Rothschild & Co Redburn set a $48.00 price objective on shares of SLB in a report on Monday, November 3rd. Evercore set a $54.00 price objective on shares of SLB and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Finally, Loop Capital set a $48.00 target price on SLB in a research report on Tuesday, January 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, SLB presently has an average rating of “Moderate Buy” and an average target price of $52.38.

SLB Stock Down 0.3%

Shares of NYSE:SLB opened at $51.34 on Friday. The business’s 50 day moving average is $46.70 and its 200 day moving average is $39.54. The stock has a market cap of $77.13 billion, a P/E ratio of 21.66, a price-to-earnings-growth ratio of 3.49 and a beta of 0.68. SLB has a 52-week low of $31.11 and a 52-week high of $52.40. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36.

SLB (NYSE:SLB) last issued its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The business had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.54 billion. During the same period in the prior year, the business earned $0.92 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. Sell-side analysts predict that SLB will post 3.38 EPS for the current year.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 4,000 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $50.29, for a total value of $201,160.00. Following the completion of the transaction, the director owned 19,525 shares in the company, valued at $981,912.25. This trade represents a 17.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Howard Guild sold 13,268 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $659,419.60. Following the sale, the chief accounting officer owned 22,407 shares in the company, valued at approximately $1,113,627.90. The trade was a 37.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 156,902 shares of company stock valued at $7,796,666. 0.22% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SLB

Several hedge funds and other institutional investors have recently bought and sold shares of the business. KW Wealth Management LLC boosted its holdings in shares of SLB by 3.8% in the 4th quarter. KW Wealth Management LLC now owns 7,306 shares of the oil and gas company’s stock valued at $280,000 after acquiring an additional 268 shares during the last quarter. MidFirst Bank purchased a new position in shares of SLB during the 4th quarter valued at about $322,000. MV Capital Management Inc. acquired a new position in shares of SLB in the 4th quarter valued at about $28,000. Cambient Family Office LLC purchased a new stake in shares of SLB in the fourth quarter worth about $386,000. Finally, McLaughlin Asset Management Inc. acquired a new stake in SLB during the fourth quarter worth about $545,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Company Profile

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.