Brokerages Set SLB Limited (NYSE:SLB) PT at $60.83

SLB Limited (NYSE:SLB) has been assigned a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $60.1667.

Several research firms recently issued reports on SLB. TD Cowen dropped their price target on shares of SLB from $66.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday. BMO Capital Markets lifted their price objective on SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 price objective on shares of SLB in a research note on Sunday, April 26th. Evercore reissued an “outperform” rating and issued a $64.00 target price on shares of SLB in a report on Monday, April 27th. Finally, Sanford C. Bernstein raised their target price on SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th.

Insiders Place Their Bets

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s 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 transaction, the executive vice president directly owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of SLB 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 sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of SLB by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock valued at $7,156,177,000 after purchasing an additional 1,080,999 shares in the last quarter. State Street Corp grew its holdings in shares of SLB by 1.0% during the fourth quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company’s stock worth $3,263,998,000 after buying an additional 799,218 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in SLB by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company’s stock valued at $2,072,844,000 after buying an additional 1,458,650 shares during the last quarter. Morgan Stanley raised its position in SLB by 1.3% in the 4th quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company’s stock valued at $1,423,716,000 after buying an additional 482,533 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in SLB by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock valued at $1,292,993,000 after acquiring an additional 510,747 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

SLB Trading Down 0.1%

NYSE:SLB opened at $45.09 on Friday. The company’s 50 day moving average is $53.51 and its 200-day moving average is $49.60. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. SLB has a 12 month low of $31.64 and a 12 month high of $58.82. The firm has a market cap of $67.42 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 1.82 and a beta of 0.72.

SLB (NYSE:SLB) last issued its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same period in the previous year, the business posted $0.72 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts anticipate that SLB will post 2.6 EPS for the current year.

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.6%. SLB’s dividend payout ratio is 51.53%.

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.