SLB (NYSE:SLB) Coverage Initiated by Analysts at Wolfe Research

Equities research analysts at Wolfe Research assumed coverage on shares of SLB (NYSE:SLB) in a report issued on Wednesday. The brokerage set an “outperform” rating and a $62.00 price target on the oil and gas company’s stock. Wolfe Research’s price target points to a potential upside of 33.42% from the company’s current price.

SLB has been the topic of several other research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $61.00 target price on shares of SLB in a research note on Tuesday, June 16th. Jefferies Financial Group restated a “buy” rating and issued a $65.00 price target on shares of SLB in a report on Sunday, April 26th. Wall Street Zen lowered shares of SLB from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Susquehanna decreased their target price on shares of SLB from $65.00 to $55.00 and set a “positive” rating for the company in a research report on Wednesday. Finally, Stifel Nicolaus raised their target price on shares of SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, SLB presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.74.

SLB Stock Up 1.6%

Shares of NYSE SLB opened at $46.47 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $69.48 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.85 and a beta of 0.72. The stock’s fifty day simple moving average is $53.13 and its two-hundred day simple moving average is $49.79. SLB has a 12-month low of $31.64 and a 12-month high of $58.82.

SLB (NYSE:SLB) last announced its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.72 EPS. As a group, analysts expect that SLB will post 2.6 EPS for the current fiscal year.

Insider Activity

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the transaction, the executive vice president directly owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the completion of the sale, the director owned 16,953 shares of the company’s stock, valued at $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On SLB

Several hedge funds have recently made changes to their positions in SLB. Evanson Financial LLC acquired a new position in shares of SLB in the second quarter valued at about $393,000. Foster Group Inc. acquired a new stake in shares of SLB during the second quarter worth about $544,000. Hamlin Capital Management LLC boosted its position in SLB by 53.4% in the second quarter. Hamlin Capital Management LLC now owns 1,644,026 shares of the oil and gas company’s stock valued at $76,431,000 after buying an additional 572,287 shares during the last quarter. Mirador Capital Partners LP boosted its position in SLB by 9.4% in the second quarter. Mirador Capital Partners LP now owns 14,758 shares of the oil and gas company’s stock valued at $686,000 after buying an additional 1,268 shares during the last quarter. Finally, Balefire LLC acquired a new position in SLB in the 2nd quarter worth approximately $539,000. 81.99% of the stock is owned by institutional investors and hedge funds.

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.