SLB Limited (NYSE:SLB) Receives $61.65 Consensus PT from Brokerages

SLB Limited (NYSE:SLB) has received a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, eighteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $61.65.

Several research firms have weighed in on SLB. Sanford C. Bernstein reissued an “outperform” rating on shares of SLB in a research note on Tuesday, September 1st. Raymond James Financial reduced their price objective on SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, July 10th. Morgan Stanley boosted their target price on SLB from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Citigroup dropped their target price on SLB from $68.00 to $63.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Finally, BMO Capital Markets restated an “outperform” rating on shares of SLB in a research report on Tuesday, September 1st.

Institutional Investors Weigh In On SLB

Several institutional investors have recently added to or reduced their stakes in SLB. Brighton Jones LLC grew its stake in shares of SLB by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after purchasing an additional 1,166 shares during the last quarter. Bison Wealth LLC bought a new position in SLB during the 4th quarter valued at approximately $238,000. Marshall Wace LLP purchased a new stake in SLB in the 2nd quarter worth approximately $8,628,000. Nebula Research & Development LLC lifted its holdings in SLB by 76.0% in the 2nd quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company’s stock worth $824,000 after buying an additional 10,522 shares during the period. Finally, Diversify Advisory Services LLC lifted its holdings in SLB by 7.6% in the 2nd 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 during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Stock Up 0.1%

Shares of NYSE SLB opened at $56.09 on Friday. The stock has a market capitalization of $83.25 billion, a P/E ratio of 27.10, a PEG ratio of 3.19 and a beta of 0.76. SLB has a one year low of $31.64 and a one year high of $60.46. The firm’s 50 day simple moving average is $51.89 and its two-hundred day simple moving average is $51.88. 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 (NYSE:SLB) last announced its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. SLB had a net margin of 8.53% and a return on equity of 14.05%. The firm had revenue of $8.97 billion during the quarter, compared to analyst estimates of $8.67 billion. During the same period in the previous year, the business posted $0.74 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, analysts expect that SLB will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio is currently 57.00%.

SLB Company Profile

SLB, formerly known as Schlumberger Limited, is a global technology and services company serving the energy industry. The company provides equipment, technology and technical expertise that help oil and gas producers locate, drill, complete and operate wells, as well as manage reservoirs and production assets.

Its offerings include seismic and subsurface evaluation, drilling and well-construction services, well completion and stimulation, artificial lift, production optimization, intervention services, subsea production systems and digital solutions.