SLB Limited (NYSE:SLB) Stock Has Consensus Target Price of $61.80

Shares of SLB Limited (NYSE:SLB) have received an average rating of “Moderate Buy” from the twenty-three research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $61.80.

SLB has been the subject of several analyst reports. Piper Sandler raised their price objective on SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Royal Bank Of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of SLB in a research report on Tuesday, June 16th. Morgan Stanley increased their target price on shares of SLB from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Barclays raised their price objective on shares of SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Finally, Stifel Nicolaus upped their target price on SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, June 18th.

SLB Price Performance

NYSE:SLB opened at $48.98 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $72.69 billion, a P/E ratio of 23.66, a P/E/G ratio of 2.62 and a beta of 0.83. SLB has a 12 month low of $31.64 and a 12 month high of $60.46. The business’s 50-day moving average is $52.99 and its 200 day moving average is $52.26.

SLB (NYSE:SLB) last announced 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 company had revenue of $8.97 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same quarter in the previous year, the business posted $0.74 earnings per share. SLB’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities research analysts forecast that SLB will post 2.49 earnings per share for the current fiscal year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd were given a dividend of $0.2950 per share. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.4%. SLB’s dividend payout ratio is presently 57.00%.

Institutional Trading of SLB

Several institutional investors and hedge funds have recently made changes to their positions in SLB. Bank of New York Mellon Corp bought a new position in SLB in the second quarter worth approximately $1,339,567,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in SLB by 6,358.2% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,134,731 shares of the oil and gas company’s stock valued at $471,164,000 after acquiring an additional 9,977,804 shares in the last quarter. Capital International Investors increased its holdings in shares of SLB by 86.9% in the 4th quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock valued at $446,247,000 after acquiring an additional 5,404,948 shares during the period. Cardano Risk Management B.V. purchased a new position in shares of SLB in the 2nd quarter valued at $185,474,000. Finally, Franklin Resources Inc. raised its position in shares of SLB by 23.0% in the 4th quarter. Franklin Resources Inc. now owns 20,949,940 shares of the oil and gas company’s stock worth $804,059,000 after acquiring an additional 3,913,048 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

About SLB

SLB, formerly known as Schlumberger, is a global technology and services company serving the energy industry. The company provides equipment, technology, and technical expertise used to evaluate underground reservoirs, drill and complete wells, and optimize oil and natural gas production.

Its offerings include seismic and subsurface evaluation, well construction and drilling services, well completions, production systems, reservoir management, artificial lift, and related software and digital solutions.