SLB (NYSE:SLB) Stock Price Target Raised at Evercore

SLB (NYSE:SLB – Free Report) had its price target upped by Evercore from $63.00 to $66.00 in a research note published on Thursday.

Several other analysts also recently weighed in on the company. Susquehanna raised their target price on SLB from $55.00 to $62.00 and gave the company a “positive” rating in a research note on Monday, July 27th. Sanford C. Bernstein reiterated an “outperform” rating on shares of SLB in a research note on Tuesday, September 1st. Morgan Stanley increased their price objective on SLB from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. UBS Group boosted their price target on shares of SLB from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, September 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of SLB in a research note on Monday, August 3rd. Twenty-four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and an average target price of $62.38.

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Check Out Our Latest Analysis on SLB

SLB Stock Down 0.1%

SLB stock opened at $48.92 on Thursday. The company has a market cap of $72.61 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 2.68 and a beta of 0.83. SLB has a 1-year low of $31.64 and a 1-year high of $60.46. The stock’s 50 day moving average price is $52.98 and its 200 day moving average price is $52.24. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05.

SLB (NYSE:SLB – Get Free Report) last announced its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. The business had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.74 EPS. On average, sell-side analysts predict that SLB will post 2.49 EPS for the current fiscal year.

SLB Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd were given a dividend of $0.2950 per share. This represents a $1.18 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, September 2nd. SLB’s dividend payout ratio (DPR) is presently 57.00%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SLB. Evergreen Advisors LLC bought a new stake in SLB during the 1st quarter worth approximately $26,000. MV Capital Management Inc. acquired a new position in SLB during the fourth quarter valued at approximately $28,000. Costello Asset Management INC increased its position 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 buying an additional 280 shares in the last quarter. Arlington Trust Co LLC raised its holdings in SLB by 66.5% during the 2nd quarter. Arlington Trust Co LLC now owns 701 shares of the oil and gas company’s stock worth $33,000 after buying an additional 280 shares during the period. Finally, Maryland Capital Advisors Inc. bought a new position in SLB during the 2nd quarter worth about $35,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

About SLB

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SLB, formerly known as Schlumberger, is a global technology and services company serving the energy industry. The company provides equipment, technology, and technical expertise used to evaluate underground reservoirs, drill and complete wells, and optimize oil and natural gas production.

Its offerings include seismic and subsurface evaluation, well construction and drilling services, well completions, production systems, reservoir management, artificial lift, and related software and digital solutions.

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