Stifel Nicolaus Issues Positive Forecast for SLB (NYSE:SLB) Stock Price

SLB (NYSE:SLB) had its price objective hoisted by analysts at Stifel Nicolaus from $48.00 to $52.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 8.22% from the company’s previous close.

Other analysts have also issued reports about the stock. Evercore ISI set a $54.00 price target on shares of SLB and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. JPMorgan Chase & Co. cut their target price on shares of SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. TD Cowen increased their price target on SLB from $56.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Rothschild & Co Redburn began coverage on SLB in a research note on Monday, November 3rd. They issued a “buy” rating and a $48.00 price target on the stock. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $51.00 price objective on shares of SLB in a research report on Thursday, January 15th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, SLB has a consensus rating of “Moderate Buy” and a consensus target price of $53.42.

SLB Stock Performance

Shares of NYSE:SLB traded up $1.60 during midday trading on Wednesday, reaching $48.05. 10,264,361 shares of the company’s stock traded hands, compared to its average volume of 22,003,484. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. SLB has a one year low of $31.11 and a one year high of $48.33. The company has a market cap of $71.78 billion, a price-to-earnings ratio of 18.53 and a beta of 0.72. The stock has a 50 day moving average of $39.40 and a 200 day moving average of $36.43.

Insider Buying and Selling at SLB

In related news, Director Peter John Coleman sold 5,500 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total transaction of $197,010.00. Following the completion of the transaction, the director directly owned 18,671 shares of the company’s stock, valued at approximately $668,795.22. This trade represents a 22.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Stephane Biguet sold 38,447 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $36.75, for a total transaction of $1,412,927.25. Following the completion of the sale, the chief financial officer owned 175,690 shares in the company, valued at approximately $6,456,607.50. The trade was a 17.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 103,947 shares of company stock valued at $3,871,337 in the last three months. 0.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SLB

Several large investors have recently made changes to their positions in the company. apricus wealth LLC lifted its holdings in shares of SLB by 0.3% in the 4th quarter. apricus wealth LLC now owns 84,740 shares of the oil and gas company’s stock worth $3,252,000 after acquiring an additional 270 shares during the last quarter. Howard Capital Management Inc. raised its position in SLB by 3.2% in the 3rd quarter. Howard Capital Management Inc. now owns 9,165 shares of the oil and gas company’s stock worth $315,000 after purchasing an additional 288 shares during the period. Daymark Wealth Partners LLC lifted its stake in SLB by 3.2% in the fourth quarter. Daymark Wealth Partners LLC now owns 9,380 shares of the oil and gas company’s stock worth $360,000 after purchasing an additional 290 shares during the last quarter. Fielder Capital Group LLC lifted its stake in SLB by 2.5% in the third quarter. Fielder Capital Group LLC now owns 12,137 shares of the oil and gas company’s stock worth $417,000 after purchasing an additional 293 shares during the last quarter. Finally, Hedges Asset Management LLC boosted its position in shares of SLB by 0.9% during the third quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock valued at $1,203,000 after buying an additional 300 shares during the period. 81.99% of the stock is owned by 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.