SLB Limited (NYSE:SLB) Receives $60.30 Consensus PT from Analysts

Shares of SLB Limited (NYSE:SLB) have earned an average rating of “Moderate Buy” from the twenty-three analysts that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $61.35.

SLB has been the subject of a number of research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $61.00 price objective on shares of SLB in a research report on Tuesday, June 16th. Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 price objective on shares of SLB in a research report on Sunday. Weiss Ratings cut shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. BMO Capital Markets upped their target price on SLB from $59.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Piper Sandler lifted their price objective on shares of SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday.

SLB Stock Performance

Shares of NYSE:SLB opened at $49.07 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05. SLB has a 1 year low of $31.64 and a 1 year high of $58.82. The firm has a market capitalization of $73.36 billion, a PE ratio of 23.70, a P/E/G ratio of 3.32 and a beta of 0.72. The business’s 50 day moving average price is $50.75 and its 200-day moving average price is $50.74.

SLB (NYSE:SLB) last announced its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. SLB had a return on equity of 14.05% and a net margin of 8.53%.The company had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same quarter last year, the firm posted $0.74 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities research analysts expect that SLB will post 2.49 earnings per share for the current fiscal year.

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio (DPR) is currently 57.00%.

Insiders Place Their Bets

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the business’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 completion of the transaction, the director owned 16,953 shares of the company’s stock, valued at $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction, the executive vice president owned 47,421 shares in the company, valued at $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SLB

Large investors have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of SLB in the 4th quarter valued at approximately $809,557,000. Bank of New York Mellon Corp raised its holdings in shares of SLB by 56.8% during the first quarter. Bank of New York Mellon Corp now owns 24,615,243 shares of the oil and gas company’s stock valued at $1,264,977,000 after buying an additional 8,918,412 shares during the last quarter. Wellington Management Group LLP lifted its holdings in SLB by 50.6% in the fourth quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company’s stock worth $638,473,000 after purchasing an additional 5,589,585 shares during the period. State Street Corp increased its position in shares of SLB by 7.0% during the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock valued at $2,898,037,000 after purchasing an additional 5,466,786 shares during the period. Finally, Capital International Investors lifted its holdings in SLB by 86.9% in the 4th quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock valued at $446,247,000 after acquiring an additional 5,404,948 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Key SLB News

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB beat second-quarter expectations, reporting $0.55 in earnings per share versus the $0.51 consensus estimate and $8.97 billion in revenue versus $8.67 billion expected. Revenue increased 5% year over year, supporting the view that international oilfield-services activity remains resilient. The results also increased attention on energy ETFs with significant SLB exposure, including IEZ, OIH and XLE. Here’s How SLB’s Q2 Earnings Impact Energy ETFs
• Positive Sentiment: BMO Capital Markets raised its SLB price target to $63, while Morgan Stanley said the stock is expected to rise. Goldman Sachs reiterated a Buy rating with a $62 target, citing an international recovery, data-center expansion opportunities and potential for above-peer earnings and returns. These targets imply meaningful upside from recent trading levels. BMO Capital Markets Increases SLB Price Target to $63.00 SLB Stock Price Expected to Rise, Morgan Stanley Analyst Says
• Positive Sentiment: Longer-term valuation analysis described SLB as reasonably priced, with potential upside based on discounted cash-flow estimates. Offshore scale, digital services, production gains from ChampionX and data-center infrastructure initiatives are cited as growth drivers. SLB Stock Looks Reasonable Despite Its Five Year Run
• Neutral Sentiment: SLB has attracted unusually high investor and Zacks.com user interest following its earnings report, but the attention itself does not establish a clear change in fundamentals or valuation. SLB Is Attracting Investor Attention
• Negative Sentiment: Zacks Research downgraded SLB from “hold” to “strong sell,” likely weighing on sentiment and helping explain why the stock has decreased despite the earnings beat and bullish broker targets. Zacks Downgrades SLB
• Negative Sentiment: Near-term risks include Middle East disruptions, uncertainty around oil prices, elevated net debt and the possibility that earnings growth will take longer to materialize. SLB’s $0.55 quarterly EPS also remained below the $0.74 reported in the prior-year period. SLB Growth Outlook Hinges on Offshore, Digital and Production Gains

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.