Analysts Set SLB Limited (NYSE:SLB) PT at $53.27

Shares of SLB Limited (NYSE:SLB) have received an average recommendation of “Moderate Buy” from the twenty-three brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $54.2684.

SLB has been the subject of a number of recent analyst reports. UBS Group reaffirmed a “buy” rating on shares of SLB in a research note on Tuesday, January 27th. Piper Sandler raised their price objective on shares of SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Sanford C. Bernstein raised their price objective on shares of SLB from $52.30 to $56.10 and gave the stock an “outperform” rating in a research note on Thursday, March 12th. BMO Capital Markets raised their price objective on shares of SLB from $53.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Finally, Wall Street Zen lowered shares of SLB from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th.

SLB Price Performance

SLB stock traded up $0.71 during mid-day trading on Tuesday, hitting $52.91. The company’s stock had a trading volume of 1,730,791 shares, compared to its average volume of 19,816,229. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $79.51 billion, a P/E ratio of 22.29, a P/E/G ratio of 3.61 and a beta of 0.69. SLB has a twelve month low of $31.64 and a twelve month high of $54.80. The stock’s fifty day moving average price is $49.96 and its two-hundred day moving average price is $43.22.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.04. SLB had a net margin of 9.45% and a return on equity of 17.45%. The firm had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.54 billion. During the same quarter in the previous year, the business posted $0.92 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Research analysts forecast that SLB will post 2.67 earnings per share for the current year.

SLB Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th were paid a $0.295 dividend. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. This is a positive change from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio (DPR) is 49.79%.

Insider Transactions at SLB

In other SLB news, Director La Chevardiere Patrick De sold 4,000 shares of SLB stock in a transaction on Monday, January 26th. The shares were sold at an average price of $50.29, for a total transaction of $201,160.00. Following the completion of the sale, the director owned 19,525 shares of the company’s stock, valued at $981,912.25. This trade represents a 17.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Dianne B. Ralston sold 18,617 shares of SLB stock in a transaction on Monday, January 26th. The shares were sold at an average price of $49.50, for a total transaction of $921,541.50. Following the sale, the insider directly owned 224,097 shares of the company’s stock, valued at $11,092,801.50. This trade represents a 7.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 156,902 shares of company stock worth $7,796,666. 0.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SLB

A number of institutional investors have recently modified their holdings of SLB. MV Capital Management Inc. acquired a new stake in shares of SLB during the 4th quarter valued at $28,000. Root Financial Partners LLC bought a new position in shares of SLB during the 3rd quarter valued at $29,000. Strategic Wealth Advisors LLC bought a new position in shares of SLB during the 4th quarter valued at $30,000. Corsicana & Co. bought a new position in shares of SLB during the 3rd quarter valued at $31,000. Finally, Strengthening Families & Communities LLC bought a new position in shares of SLB during the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

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.