SLB (NYSE:SLB) Upgraded at Piper Sandler

Piper Sandler upgraded shares of SLB (NYSE:SLB) from a hold rating to an overweight rating in a research report released on Monday, MarketBeat Ratings reports.

A number of other equities research analysts have also recently commented on the stock. Jefferies Financial Group decreased their target price on shares of SLB from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th. Zacks Research upgraded shares of SLB from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Susquehanna decreased their target price on shares of SLB from $44.00 to $42.00 and set a “positive” rating on the stock in a research note on Monday, July 21st. Melius started coverage on shares of SLB in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective on the stock. Finally, Barclays lifted their price objective on shares of SLB from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, SLB presently has an average rating of “Moderate Buy” and an average price target of $51.69.

SLB Price Performance

NYSE SLB opened at $34.88 on Monday. SLB has a 12 month low of $31.11 and a 12 month high of $44.97. The stock has a market cap of $52.09 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 9.34 and a beta of 0.97. The company’s 50 day moving average is $34.55 and its two-hundred day moving average is $34.49. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40.

SLB (NYSE:SLB) last released its earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. SLB had a net margin of 10.34% and a return on equity of 18.97%. The company had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.99 billion. During the same quarter last year, the business earned $0.89 EPS. The firm’s revenue was down 2.5% compared to the same quarter last year. As a group, research analysts anticipate that SLB will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, December 3rd. SLB’s payout ratio is currently 44.02%.

Insiders Place Their Bets

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares of the company’s stock, valued at $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Institutional Trading of SLB

A number of large investors have recently made changes to their positions in SLB. First Command Advisory Services Inc. raised its holdings in shares of SLB by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 477 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of SLB in the second quarter valued at about $25,000. Atlas Capital Advisors Inc. bought a new stake in shares of SLB in the first quarter valued at about $33,000. Alpine Bank Wealth Management bought a new stake in shares of SLB in the first quarter valued at about $34,000. Finally, Atticus Wealth Management LLC purchased a new stake in shares of SLB during the second quarter valued at about $29,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.