SLB (NYSE:SLB) Stock Gets Price Target Trim from Piper Sandler

SLB (NYSE:SLB) had its target price reduced by Piper Sandler from $64.00 to $63.00 in a research note issued to investors on Monday morning, Marketbeat.com reports. They currently have an overweight rating on the oil and gas company’s stock.

Other analysts have also recently issued reports about the company. Evercore upped their target price on SLB from $63.00 to $66.00 in a report on Thursday, October 8th. UBS Group raised their price target on shares of SLB from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, September 14th. Zacks Research upgraded shares of SLB from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. TD Cowen boosted their price target on shares of SLB from $62.00 to $64.00 in a research report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of SLB from $61.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Twenty-four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, SLB has a consensus rating of “Moderate Buy” and an average price target of $62.27.

SLB Trading Up 2.3%

NYSE SLB opened at $51.14 on Monday. The firm has a market capitalization of $75.89 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 2.75 and a beta of 0.83. The business’s 50-day moving average price is $52.63 and its two-hundred day moving average price is $52.15. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. SLB has a 12 month low of $34.00 and a 12 month high of $60.46.

SLB (NYSE:SLB) last issued its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The company had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share. On average, analysts expect that SLB will post 2.48 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Guardian Partners Inc. increased its stake in SLB by 19.7% during the 3rd quarter. Guardian Partners Inc. now owns 4,012 shares of the oil and gas company’s stock valued at $195,000 after purchasing an additional 659 shares in the last quarter. Sawyer & Company Inc acquired a new position in SLB during the third quarter worth $256,000. Banque Pictet & Cie SA lifted its stake in shares of SLB by 5.0% in the third quarter. Banque Pictet & Cie SA now owns 622,963 shares of the oil and gas company’s stock valued at $30,351,000 after buying an additional 29,768 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in shares of SLB by 4.8% in the third quarter. V Square Quantitative Management LLC now owns 29,465 shares of the oil and gas company’s stock valued at $1,436,000 after buying an additional 1,345 shares in the last quarter. Finally, Fortitude Advisory Group L.L.C. lifted its stake in shares of SLB by 1.7% in the third quarter. Fortitude Advisory Group L.L.C. now owns 22,264 shares of the oil and gas company’s stock valued at $1,085,000 after buying an additional 378 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

About SLB

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.