SLB (NYSE:SLB) Now Covered by Rothschild & Co Redburn

Stock analysts at Rothschild & Co Redburn began coverage on shares of SLB (NYSE:SLB) in a research note issued on Monday. The brokerage set a “buy” rating and a $48.00 price target on the oil and gas company’s stock. Rothschild & Co Redburn’s price objective indicates a potential upside of 33.12% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. UBS Group reiterated a “buy” rating and issued a $44.00 price objective on shares of SLB in a report on Tuesday, October 21st. Citigroup increased their price objective on SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Wells Fargo & Company cut SLB from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 20th. Melius Research started coverage on SLB in a research report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective for the company. Finally, Piper Sandler set a $42.00 price target on SLB and gave the stock an “overweight” rating in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.28.

SLB Price Performance

SLB stock opened at $36.06 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. The firm has a market cap of $53.87 billion, a P/E ratio of 13.92, a P/E/G ratio of 10.19 and a beta of 0.97. The business’s fifty day moving average is $34.90 and its two-hundred day moving average is $34.62. SLB has a 52 week low of $31.11 and a 52 week high of $44.97.

SLB (NYSE:SLB) last issued its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The business had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. During the same quarter in the prior year, the firm posted $0.89 earnings per share. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities research analysts forecast that SLB will post 3.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the transaction, the insider owned 202,201 shares in the company, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SLB

A number of hedge funds have recently added to or reduced their stakes in the stock. Hedges Asset Management LLC increased its stake in shares of SLB by 0.9% in the 3rd quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock valued at $1,203,000 after purchasing an additional 300 shares during the last quarter. Legacy Wealth Asset Management LLC increased its stake in shares of SLB by 2.2% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock valued at $486,000 after purchasing an additional 308 shares during the last quarter. EntryPoint Capital LLC boosted its holdings in shares of SLB by 4.5% during the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock valued at $307,000 after acquiring an additional 316 shares in the last quarter. Horizon Investments LLC boosted its holdings in shares of SLB by 1.5% during the 1st quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock valued at $946,000 after acquiring an additional 330 shares in the last quarter. Finally, CreativeOne Wealth LLC boosted its holdings in shares of SLB by 6.3% during the 1st quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock valued at $236,000 after acquiring an additional 335 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

SLB Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.