SLB Limited (NYSE:SLB) Receives $58.95 Average Target Price from Brokerages

SLB Limited (NYSE:SLB) has received an average rating of “Moderate Buy” from the twenty-three research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and three have issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $59.7368.

SLB has been the topic of a number of analyst reports. TD Cowen lifted their price objective on shares of SLB from $55.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Morgan Stanley set a $57.00 target price on shares of SLB in a research note on Monday, April 27th. UBS Group raised their price target on shares of SLB from $61.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Barclays lifted their price target on shares of SLB from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, April 27th.

Insider Transactions at SLB

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the transaction, the executive vice president owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.16% of the company’s stock.

Institutional Trading of SLB

A number of hedge funds and other institutional investors have recently made changes to their positions in SLB. Evergreen Advisors LLC bought a new stake in shares of SLB in the 1st quarter worth about $26,000. MV Capital Management Inc. bought a new position in shares of SLB during the fourth quarter worth about $28,000. Root Financial Partners LLC bought a new position in shares of SLB during the third quarter worth about $29,000. Strategic Wealth Advisors LLC acquired a new position in SLB in the fourth quarter worth about $30,000. Finally, Costello Asset Management INC grew its stake in SLB by 93.3% in the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 280 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

SLB Trading Down 0.8%

Shares of SLB stock opened at $55.33 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. SLB has a fifty-two week low of $31.64 and a fifty-two week high of $57.20. The firm’s 50 day moving average price is $51.44 and its two-hundred day moving average price is $45.70. The stock has a market cap of $82.72 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 3.92 and a beta of 0.72.

SLB (NYSE:SLB) last announced its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 EPS. On average, analysts anticipate that SLB will post 2.61 EPS for the current year.

SLB Dividend Announcement

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

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.