Analysts Set SLB Limited (NYSE:SLB) Price Target at $61.65

Shares of SLB Limited (NYSE:SLB) have earned an average recommendation of “Moderate Buy” from the twenty-three analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, eighteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $61.80.

A number of equities analysts have weighed in on the company. Evercore restated an “outperform” rating and issued a $66.00 price target on shares of SLB in a report on Monday, July 27th. Jefferies Financial Group reissued a “buy” rating and set a $66.00 target price on shares of SLB in a research report on Sunday, July 26th. UBS Group raised their price target on shares of SLB from $72.00 to $75.00 and gave the company a “buy” rating in a report on Monday. Citigroup lowered their price target on shares of SLB from $68.00 to $63.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Finally, TD Cowen boosted their price objective on shares of SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, July 27th.

Institutional Investors Weigh In On SLB

Hedge funds and other institutional investors have recently bought and sold shares of the business. Abel Hall LLC boosted its position in SLB by 2.7% during the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock worth $387,000 after acquiring an additional 198 shares during the period. E Fund Management Co. Ltd. increased its holdings in shares of SLB by 3.6% in the 2nd quarter. E Fund Management Co. Ltd. now owns 5,712 shares of the oil and gas company’s stock valued at $266,000 after purchasing an additional 199 shares during the period. Private Wealth Asset Management LLC increased its holdings in shares of SLB by 4.1% in the 4th quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock valued at $193,000 after purchasing an additional 200 shares during the period. Capital Advisors Ltd. LLC lifted its position in shares of SLB by 9.3% in the first quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock worth $129,000 after purchasing an additional 214 shares in the last quarter. Finally, Davis Capital Management lifted its position in shares of SLB by 1.0% in the first quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company’s stock worth $1,129,000 after purchasing an additional 220 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Trading Up 1.6%

NYSE:SLB opened at $54.16 on Friday. The business’s 50-day moving average is $52.19 and its two-hundred day moving average is $51.91. The firm has a market capitalization of $80.37 billion, a PE ratio of 26.16, a price-to-earnings-growth ratio of 3.03 and a beta of 0.76. SLB has a 12 month low of $31.64 and a 12 month high of $60.46. 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) last issued its 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. The company had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. Research analysts predict that SLB will post 2.5 earnings per share for the current fiscal year.

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be issued a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. SLB’s dividend payout ratio is currently 57.00%.

SLB Company Profile

SLB, formerly known as Schlumberger Limited, is a global technology and services company serving the energy industry. The company provides equipment, technology and technical expertise that help oil and gas producers locate, drill, complete and operate wells, as well as manage reservoirs and production assets.

Its offerings include seismic and subsurface evaluation, drilling and well-construction services, well completion and stimulation, artificial lift, production optimization, intervention services, subsea production systems and digital solutions.