SLB (NYSE:SLB) Stock Moved Up to Hold by Freedom Broker

SLB (NYSE:SLB) was upgraded by analysts at Freedom Broker from a “sell” rating to a “hold” rating in a research report issued on Monday, Benzinga reports. The brokerage presently has a $48.00 price target on the oil and gas company’s stock. Freedom Broker‘s price objective indicates a potential downside of 9.61% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Sanford C. Bernstein reiterated an “outperform” rating on shares of SLB in a report on Tuesday, September 1st. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 target price (down from $63.00) on shares of SLB in a report on Tuesday, September 1st. Wolfe Research began 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. Capital One Financial cut their price objective on SLB from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Tuesday, August 18th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $66.00 price objective (up from $65.00) on shares of SLB in a research note on Sunday, July 26th. Twenty-four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.52.

SLB Trading Up 0.1%

Shares of NYSE:SLB traded up $0.04 during trading on Monday, reaching $53.10. The stock had a trading volume of 12,774,089 shares, compared to its average volume of 15,844,092. The company has a quick ratio of 1.02, a current ratio of 1.39 and a debt-to-equity ratio of 0.41. The stock has a market cap of $78.81 billion, a P/E ratio of 25.78, a PEG ratio of 2.92 and a beta of 0.83. The business has a fifty day moving average price of $52.57 and a 200-day moving average price of $52.17. SLB has a fifty-two week low of $34.65 and a fifty-two week high of $60.46.

SLB (NYSE:SLB) last released its earnings results on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. The firm had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.27 billion. SLB had a return on equity of 13.77% and a net margin of 8.40%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 earnings per share. As a group, analysts anticipate that SLB will post 2.47 earnings per share for the current fiscal year.

Institutional Trading of SLB

A number of hedge funds have recently made changes to their positions in SLB. Saudi Central Bank raised its position in shares of SLB by 90.6% during the 2nd quarter. Saudi Central Bank now owns 105,079 shares of the oil and gas company’s stock valued at $4,885,000 after acquiring an additional 49,937 shares in the last quarter. Bank of America Corp DE boosted its holdings in SLB by 11.1% in the first quarter. Bank of America Corp DE now owns 10,536,104 shares of the oil and gas company’s stock worth $541,450,000 after purchasing an additional 1,052,239 shares during the period. Nan Shan Life Insurance Co. Ltd. increased its stake in SLB by 513.8% during the second quarter. Nan Shan Life Insurance Co. Ltd. now owns 736,544 shares of the oil and gas company’s stock valued at $34,242,000 after purchasing an additional 616,544 shares during the last quarter. State Street Corp boosted its stake in SLB by 0.8% in the second quarter. State Street Corp now owns 91,222,641 shares of the oil and gas company’s stock valued at $4,267,269,000 after acquiring an additional 722,060 shares during the period. Finally, QRG Capital Management Inc. grew its position in shares of SLB by 707.9% during the first quarter. QRG Capital Management Inc. now owns 115,079 shares of the oil and gas company’s stock worth $5,914,000 after acquiring an additional 100,834 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Key SLB News

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB reported third-quarter EPS of $0.64, above the $0.62 consensus estimate, while revenue of $9.45 billion exceeded expectations of $9.27 billion and rose 5.8% year over year. Positive cash flow and growth across regions—including a 13% sequential increase in Middle East revenue—helped support the recent share advance. SLB revenue rises 5% as cash flow stays positive in quarter
• Positive Sentiment: Management cited broad-based momentum in production systems, subsea operations, North America, offshore international markets and digital services. The ChampionX integration and a growing subsea backlog were identified as important longer-term growth drivers. The 5 most interesting analyst questions from SLB’s Q3 earnings call
• Positive Sentiment: SLB opened a Canadian modular data-center infrastructure facility intended to support Meta projects. The initiative expands the company’s exposure beyond oilfield services and could provide additional growth tied to hyperscale data-center demand. SLB opens Canada facility after data center win

About SLB

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.