Brokerages Set SLB Limited (NYSE:SLB) PT at $61.35

Shares of SLB Limited (NYSE:SLB) have earned a consensus rating of “Moderate Buy” from the twenty-three analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $61.35.

Several equities analysts recently commented on SLB shares. Royal Bank Of Canada restated an “outperform” rating and set a $61.00 target price on shares of SLB in a research report on Tuesday, June 16th. BMO Capital Markets raised their price target on SLB from $59.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, July 27th. UBS Group lowered their price target on SLB from $69.00 to $66.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Wolfe Research initiated coverage on SLB in a research report on Wednesday, July 8th. They set an “outperform” rating and a $62.00 price target for the company. Finally, Raymond James Financial cut their price objective on SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, July 10th.

SLB Stock Up 0.1%

Shares of NYSE:SLB opened at $53.90 on Monday. The firm has a fifty day moving average price of $49.30 and a two-hundred day moving average price of $51.26. 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 has a one year low of $31.64 and a one year high of $58.82. The company has a market cap of $80.00 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 3.55 and a beta of 0.73.

SLB (NYSE:SLB) last released its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. SLB had a net margin of 8.53% and a return on equity of 14.05%. The firm had revenue of $8.97 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The business’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts anticipate that SLB will post 2.5 EPS for the current fiscal year.

SLB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Wednesday, September 2nd will be given a dividend of $0.295 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $1.18 annualized dividend and a yield of 2.2%. SLB’s payout ratio is presently 57.00%.

Hedge Funds Weigh In On SLB

Institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC raised its position in SLB by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 1,166 shares in the last quarter. Bison Wealth LLC purchased a new position in shares of SLB in the 4th quarter worth about $238,000. Marshall Wace LLP purchased a new position in shares of SLB in the 2nd quarter worth about $8,628,000. Nebula Research & Development LLC increased its position in shares of SLB by 76.0% during the 2nd quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company’s stock valued at $824,000 after purchasing an additional 10,522 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its holdings in shares of SLB by 7.6% during the 2nd quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company’s stock valued at $373,000 after buying an additional 799 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

About SLB

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.