SLB (NYSE:SLB) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

SLB (NYSE:SLB) had its price target raised by investment analysts at BMO Capital Markets from $53.00 to $55.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the oil and gas company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 12.25% from the stock’s current price.

Several other brokerages have also recently commented on SLB. Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Morgan Stanley restated an “overweight” rating and issued a $50.00 price target on shares of SLB in a research note on Wednesday. Rothschild & Co Redburn assumed coverage on shares of SLB in a research note on Monday, November 3rd. They issued a “buy” rating and a $48.00 target price for the company. Stifel Nicolaus increased their price target on SLB from $48.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Finally, Citigroup reissued a “buy” rating on shares of SLB in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, SLB currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.49.

SLB Stock Down 0.7%

Shares of SLB opened at $49.00 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33. The firm has a market cap of $73.20 billion, a P/E ratio of 20.67 and a beta of 0.72. The firm’s 50-day simple moving average is $40.14 and its 200 day simple moving average is $36.71. SLB has a 52 week low of $31.11 and a 52 week high of $51.67.

SLB (NYSE:SLB) last issued its quarterly earnings data 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 net margin of 9.45% and a return on equity of 17.45%. The company had revenue of $9.75 billion for the quarter, compared to analysts’ expectations of $9.54 billion. During the same quarter in the previous year, the firm posted $0.92 earnings per share. SLB’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts forecast that SLB will post 3.38 earnings per share for the current year.

Insider Activity at SLB

In other news, CFO Stephane Biguet sold 38,447 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $36.75, for a total value of $1,412,927.25. Following the completion of the transaction, the chief financial officer directly owned 175,690 shares of the company’s stock, valued at $6,456,607.50. This trade represents a 17.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total value of $2,261,400.00. Following the completion of the sale, the executive vice president owned 159,371 shares of the company’s stock, valued at $6,006,692.99. The trade was a 27.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 103,947 shares of company stock valued at $3,871,337 over the last 90 days. Insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SLB. Synergy Asset Management LLC raised its stake in shares of SLB by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 80,830 shares of the oil and gas company’s stock worth $2,732,000 after buying an additional 40,415 shares in the last quarter. Americana Partners LLC boosted its position in shares of SLB by 10.1% in the third quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company’s stock worth $8,526,000 after buying an additional 22,706 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of SLB by 13.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 210,056 shares of the oil and gas company’s stock worth $7,220,000 after acquiring an additional 25,417 shares in the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of SLB by 1,937.4% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company’s stock worth $34,265,000 after acquiring an additional 948,015 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in SLB by 4.9% during the 3rd quarter. Nordea Investment Management AB now owns 2,157,885 shares of the oil and gas company’s stock worth $72,354,000 after buying an additional 100,918 shares during the last quarter. 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.