SLB (NYSE:SLB) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

SLB (NYSE:SLB) had its price objective lifted by equities researchers at BMO Capital Markets from $59.00 to $63.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the oil and gas company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 20.16% from the stock’s previous close.

Several other research analysts also recently commented on SLB. Weiss Ratings downgraded shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 price objective on shares of SLB in a research note on Sunday. UBS Group cut their target price on SLB from $69.00 to $66.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Wolfe Research began coverage on SLB in a report on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price objective for the company. Finally, Stifel Nicolaus upped their target price on SLB from $61.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.50.

SLB Trading Up 0.0%

Shares of SLB stock opened at $52.43 on Monday. The business has a 50-day moving average of $51.16 and a 200 day moving average of $50.60. 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 1-year low of $31.64 and a 1-year high of $58.82. The stock has a market capitalization of $78.39 billion, a PE ratio of 25.33, a P/E/G ratio of 2.12 and a beta of 0.72.

SLB (NYSE:SLB) last announced its quarterly earnings results on Friday, July 24th. The oil and gas company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. SLB had a return on equity of 14.05% and a net margin of 8.53%.The business had revenue of $8.97 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same period in the previous year, the firm earned $0.74 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts anticipate that SLB will post 2.52 earnings per share for the current year.

Insider Activity at SLB

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction 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 transaction, the director directly owned 16,953 shares of the company’s stock, valued at $921,056.49. This represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the sale, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On SLB

Hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in SLB by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after acquiring an additional 1,166 shares during the period. Bison Wealth LLC purchased a new position in shares of SLB during the 4th quarter worth $238,000. Marshall Wace LLP purchased a new stake in shares of SLB in the 2nd quarter worth $8,628,000. Nebula Research & Development LLC lifted its position in SLB by 76.0% during the second 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 in the last quarter. Finally, Diversify Advisory Services LLC increased its position in SLB by 7.6% in the second quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company’s stock worth $373,000 after buying an additional 799 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

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.