SLB (NYSE:SLB) Price Target Raised to $55.00

SLB (NYSE:SLB) had its target price hoisted by Morgan Stanley from $54.00 to $55.00 in a research report report published on Monday morning,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

A number of other research firms have also recently issued reports on SLB. Piper Sandler upped their price target on shares of SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Monday. TD Cowen lifted their price objective on SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday. UBS Group cut their price objective on SLB from $69.00 to $66.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Susquehanna increased their target price on SLB from $55.00 to $62.00 and gave the company a “positive” rating in a research note on Monday. Finally, Weiss Ratings lowered SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, SLB has a consensus rating of “Moderate Buy” and an average price target of $61.35.

SLB Trading Down 1.8%

Shares of SLB stock opened at $49.07 on Monday. SLB has a 12 month low of $31.64 and a 12 month high of $58.82. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $50.75 and its two-hundred day moving average is $50.74. The company has a market cap of $73.36 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 3.32 and a beta of 0.72.

SLB (NYSE:SLB) last posted its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. SLB’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $0.74 EPS. Equities analysts predict that SLB will post 2.49 EPS for the current year.

SLB Announces Dividend

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

Insider Transactions at SLB

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

Institutional Investors Weigh In On SLB

Several institutional investors and hedge funds have recently bought and sold shares of the business. Abel Hall LLC lifted its holdings in shares of SLB by 2.7% during the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock worth $387,000 after acquiring an additional 198 shares during the period. Private Wealth Asset Management LLC lifted its stake in SLB by 4.1% during the fourth quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock worth $193,000 after purchasing an additional 200 shares during the period. Capital Advisors Ltd. LLC lifted its stake in SLB by 9.3% during the first 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 during the period. Ballentine Partners LLC boosted 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 in the last quarter. Finally, Davis Capital Management grew its stake in shares of SLB by 1.0% in the 1st quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company’s stock valued at $1,129,000 after purchasing an additional 220 shares during the period. Institutional investors own 81.99% of the company’s stock.

SLB News Roundup

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.