JPMorgan Chase & Co. Cuts SLB (NYSE:SLB) Price Target to $43.00

SLB (NYSE:SLB) had its price objective trimmed by JPMorgan Chase & Co. from $44.00 to $43.00 in a report published on Monday morning,Benzinga reports. The firm currently has an overweight rating on the oil and gas company’s stock.

SLB has been the topic of several other research reports. Jefferies Financial Group reduced their price objective on shares of SLB from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Piper Sandler set a $42.00 price target on shares of SLB and gave the stock an “overweight” rating in a research note on Monday. Wells Fargo & Company downgraded shares of SLB from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 20th. Melius started coverage on SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 target price on the stock. Finally, UBS Group dropped their price target on SLB from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $51.69.

SLB Trading Up 4.0%

Shares of SLB stock opened at $34.88 on Monday. SLB has a fifty-two week low of $31.11 and a fifty-two week high of $44.97. 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 company has a market capitalization of $52.09 billion, a P/E ratio of 13.47, a P/E/G ratio of 9.34 and a beta of 0.97. The company has a fifty day moving average of $34.55 and a 200 day moving average of $34.49.

SLB (NYSE:SLB) last announced its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 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 the consensus estimate of $8.99 billion. During the same period in the previous year, the business earned $0.89 earnings per share. The business’s revenue was down 2.5% on a year-over-year basis. On average, sell-side analysts anticipate that SLB will post 3.38 earnings per share for the current fiscal year.

SLB Announces Dividend

The business 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. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.3%. SLB’s dividend payout ratio (DPR) is currently 44.02%.

Insiders Place Their Bets

In other news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the sale, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On SLB

Several hedge funds have recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC purchased a new position in shares of SLB during the second quarter valued at approximately $25,000. First Command Advisory Services Inc. increased its stake in 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 worth $27,000 after purchasing an additional 477 shares during the period. Atticus Wealth Management LLC bought a new stake in shares of SLB during the second quarter worth $29,000. Corsicana & Co. purchased a new stake in shares of SLB during the third quarter valued at $31,000. Finally, Atlas Capital Advisors Inc. purchased a new position in SLB in the 1st quarter worth about $33,000. 81.99% of the stock is currently owned by institutional investors.

About SLB

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.