SLB Limited (NYSE:SLB) Receives $52.38 Consensus Price Target from Analysts

Shares of SLB Limited (NYSE:SLB) have been given a consensus rating of “Moderate Buy” by the twenty-three ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $52.3842.

Several analysts have issued reports on SLB shares. Piper Sandler boosted their target price on SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Royal Bank Of Canada boosted their price objective on SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. TD Cowen upped their price objective on shares of SLB from $56.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Jefferies Financial Group lifted their target price on shares of SLB from $51.00 to $58.00 and gave the stock a “buy” rating in a research note on Sunday, February 1st. Finally, Rothschild & Co Redburn set a $48.00 price target on shares of SLB in a research note on Monday, November 3rd.

SLB Stock Performance

NYSE SLB opened at $51.68 on Monday. The company has a market capitalization of $77.28 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 3.53 and a beta of 0.73. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33. SLB has a 52-week low of $31.11 and a 52-week high of $52.40. The company has a 50-day simple moving average of $46.17 and a 200 day simple moving average of $39.24.

SLB (NYSE:SLB) last released its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. SLB had a net margin of 9.45% and a return on equity of 17.45%. The firm had revenue of $9.75 billion for the quarter, compared to analysts’ expectations of $9.54 billion. During the same period in the previous year, the company earned $0.92 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. On average, research analysts predict that SLB will post 3.38 EPS for the current year.

SLB Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be given a dividend of $0.295 per share. This is an increase from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, February 11th. SLB’s dividend payout ratio (DPR) is currently 49.79%.

Insider Buying and Selling

In other SLB news, EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the completion of the transaction, the executive vice president owned 140,602 shares of the company’s stock, valued at $6,987,919.40. The trade was a 29.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephane Biguet sold 61,017 shares of the stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $3,032,544.90. Following the completion of the sale, the chief financial officer directly owned 155,548 shares in the company, valued at approximately $7,730,735.60. The trade was a 28.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 156,902 shares of company stock valued at $7,796,666 in the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Institutional Trading of SLB

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of SLB by 23.3% during the 3rd quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock valued at $6,371,335,000 after purchasing an additional 35,057,313 shares in the last quarter. Norges Bank purchased a new position in SLB during the fourth quarter worth about $809,557,000. Bank of New York Mellon Corp grew its position in SLB by 64.4% during the fourth quarter. Bank of New York Mellon Corp now owns 15,696,831 shares of the oil and gas company’s stock worth $602,444,000 after buying an additional 6,149,511 shares in the last quarter. Wellington Management Group LLP increased its stake in SLB by 50.6% in the 4th quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company’s stock worth $638,473,000 after acquiring an additional 5,589,585 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of SLB by 7.0% in the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock valued at $2,898,037,000 after acquiring an additional 5,466,786 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Company Profile

SLB (NYSE: SLB), historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB’s product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.