Freedom Broker upgraded shares of SLB (NYSE:SLB – Free Report) from a sell rating to a hold rating in a report published on Monday, MarketBeat Ratings reports. Freedom Broker currently has $48.00 price target on the oil and gas company’s stock.
Other research analysts also recently issued research reports about the company. Raymond James Financial cut their price target on SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. Susquehanna lifted their price objective on SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a report on Monday, July 27th. The Goldman Sachs Group lowered their price objective on SLB from $63.00 to $62.00 in a research note on Tuesday, July 7th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of SLB in a report on Tuesday, September 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of SLB from $61.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Twenty-four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.52.
Check Out Our Latest Analysis on SLB
SLB Price Performance
SLB stock opened at $53.71 on Monday. SLB has a 12 month low of $34.65 and a 12 month high of $60.46. The company has a current ratio of 1.39, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The business’s 50 day simple moving average is $52.49 and its 200 day simple moving average is $51.28. The company has a market cap of $79.71 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 2.92 and a beta of 0.83.
SLB (NYSE:SLB – Get Free Report) last announced its quarterly earnings data on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.27 billion. SLB had a return on equity of 13.77% and a net margin of 8.40%. SLB’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 earnings per share. Sell-side analysts forecast that SLB will post 2.47 EPS for the current year.
SLB Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 2nd will be paid a dividend of $0.2950 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, December 2nd. SLB’s payout ratio is presently 57.28%.
Institutional Trading of SLB
A number of institutional investors have recently added to or reduced their stakes in SLB. Evergreen Advisors LLC bought a new stake in SLB during the 1st quarter worth approximately $26,000. Costello Asset Management INC raised its holdings in shares of SLB by 93.3% in the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 280 shares in the last quarter. Arlington Trust Co LLC lifted its position in SLB by 66.5% during the second quarter. Arlington Trust Co LLC now owns 701 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 280 shares during the last quarter. Maryland Capital Advisors Inc. bought a new stake in shares of SLB during the 2nd quarter worth $35,000. Finally, Sound Income Strategies LLC lifted its stake in SLB by 71.1% during the first quarter. Sound Income Strategies LLC now owns 780 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 324 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.
About SLB
SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.
The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.
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