SLB (NYSE:SLB) Hits New 1-Year High – Time to Buy?

SLB Limited (NYSE:SLB)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $57.99 and last traded at $57.98, with a volume of 740391 shares traded. The stock had previously closed at $57.28.

Wall Street Analyst Weigh In

Several brokerages recently commented on SLB. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $61.00 price objective on shares of SLB in a research note on Monday, April 27th. JPMorgan Chase & Co. raised their price target on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Piper Sandler boosted their price target 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. TD Cowen increased their price objective on SLB from $55.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, Susquehanna lifted their price objective on SLB from $60.00 to $65.00 and gave the company a “positive” rating in a research note on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $59.74.

SLB Trading Down 2.5%

The stock’s 50 day simple moving average is $53.16 and its 200 day simple moving average is $46.94. The firm has a market cap of $84.52 billion, a PE ratio of 24.69, a PEG ratio of 2.35 and a beta of 0.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34.

SLB (NYSE:SLB) last posted its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The company had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. During the same period in the previous year, the firm posted $0.72 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts forecast that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be issued a $0.295 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a yield of 2.1%. SLB’s dividend payout ratio (DPR) is 51.53%.

Insider Transactions at SLB

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the sale, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the transaction, the director directly owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by corporate insiders.

Institutional Trading of SLB

A number of hedge funds have recently bought and sold shares of the company. Abel Hall LLC boosted its holdings in shares of SLB by 2.7% in the first quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock worth $387,000 after buying an additional 198 shares during the last quarter. Private Wealth Asset Management LLC grew its position in shares of SLB by 4.1% during the 4th quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock valued at $193,000 after acquiring an additional 200 shares during the period. Capital Advisors Ltd. LLC increased its stake in shares of SLB by 9.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock worth $129,000 after purchasing an additional 214 shares in the last quarter. Ballentine Partners LLC grew its holdings in SLB by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock valued at $395,000 after purchasing an additional 218 shares during the period. Finally, Davis Capital Management increased its position in SLB by 1.0% in the first quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company’s stock worth $1,129,000 after buying an additional 220 shares in the last quarter. Hedge funds and other institutional investors 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.