SLB (NYSE:SLB) Reaches New 1-Year High – What’s Next?

SLB Limited (NYSE:SLB) hit a new 52-week high on Wednesday . The stock traded as high as $48.33 and last traded at $47.9140, with a volume of 5299721 shares traded. The stock had previously closed at $46.45.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SLB shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $51.00 price target on shares of SLB in a research note on Thursday, January 15th. TD Cowen lifted their price target on shares of SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Rothschild Redb upgraded shares of SLB to a “strong-buy” rating in a research note on Monday, November 3rd. Sanford C. Bernstein lifted their target price on SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. Finally, JPMorgan Chase & Co. decreased their target price on SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.42.

SLB Price Performance

The company has a 50-day moving average of $39.40 and a 200-day moving average of $36.43. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. The stock has a market cap of $71.73 billion, a price-to-earnings ratio of 18.56 and a beta of 0.72.

Insider Activity at SLB

In other SLB news, Director Peter John Coleman sold 5,500 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total value of $197,010.00. Following the transaction, the director directly owned 18,671 shares of the company’s stock, valued at approximately $668,795.22. The trade was a 22.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the completion of the sale, the executive vice president owned 159,371 shares of the company’s stock, valued at $6,006,692.99. This trade represents a 27.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 103,947 shares of company stock worth $3,871,337 in the last three months. Insiders own 0.22% of the company’s stock.

Institutional Trading of SLB

Several hedge funds have recently modified their holdings of the business. Aaron Wealth Advisors LLC raised its position in SLB by 109.5% in the fourth quarter. Aaron Wealth Advisors LLC now owns 19,074 shares of the oil and gas company’s stock worth $732,000 after acquiring an additional 9,970 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its stake in shares of SLB by 18.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,632 shares of the oil and gas company’s stock valued at $101,000 after purchasing an additional 401 shares during the period. Capital Advisors Wealth Management LLC boosted its holdings in SLB by 27.3% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 13,543 shares of the oil and gas company’s stock worth $520,000 after buying an additional 2,903 shares in the last quarter. Cidel Asset Management Inc. boosted its stake in shares of SLB by 13.0% during the 4th quarter. Cidel Asset Management Inc. now owns 14,211 shares of the oil and gas company’s stock worth $545,000 after acquiring an additional 1,640 shares in the last quarter. Finally, Meridian Investment Counsel Inc. boosted its position in SLB by 101.9% during the fourth quarter. Meridian Investment Counsel Inc. now owns 26,350 shares of the oil and gas company’s stock worth $1,011,000 after purchasing an additional 13,300 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

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.