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

SLB Limited (NYSE:SLB)’s share price reached a new 52-week high on Wednesday . The company traded as high as $51.88 and last traded at $51.2490, with a volume of 3189920 shares changing hands. The stock had previously closed at $50.32.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SLB. Royal Bank Of Canada raised their price target on shares of SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Bank of America upped their price target on SLB from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Argus upgraded SLB to a “strong-buy” rating in a research note on Monday, January 26th. Susquehanna upped their target price on SLB from $52.00 to $58.00 and gave the company a “positive” rating in a report on Monday, January 26th. Finally, Piper Sandler boosted their price objective on shares of SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and an average price target of $52.38.

SLB Price Performance

The stock has a market cap of $75.34 billion, a PE ratio of 21.31, a PEG ratio of 3.51 and a beta of 0.73. 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 business’s 50-day simple moving average is $43.98 and its 200-day simple moving average is $38.12.

SLB (NYSE:SLB) last announced its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.54 billion. SLB had a net margin of 9.45% and a return on equity of 17.45%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 EPS. On average, research analysts expect that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be given a $0.295 dividend. This is a positive change from SLB’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.18 dividend on an annualized basis and a yield of 2.3%. SLB’s payout ratio is presently 49.79%.

Insiders Place Their Bets

In related news, Director Peter John Coleman sold 5,500 shares of the firm’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 completion of the transaction, the director directly owned 18,671 shares of the company’s stock, valued at approximately $668,795.22. This trade represents a 22.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the completion of the sale, the executive vice president directly owned 140,602 shares in the company, valued at approximately $6,987,919.40. This represents a 29.91% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 162,402 shares of company stock valued at $7,993,676. 0.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SLB

A number of institutional investors have recently modified their holdings of SLB. Private Wealth Asset Management LLC raised its stake in SLB by 4.1% in the fourth quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock worth $193,000 after buying an additional 200 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of SLB by 2.2% in the 4th quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock valued at $395,000 after acquiring an additional 218 shares during the period. Bruce G. Allen Investments LLC raised its position in shares of SLB by 37.0% in the 4th quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 227 shares in the last quarter. Rothschild Investment LLC lifted its stake in shares of SLB by 4.4% during the 4th quarter. Rothschild Investment LLC now owns 5,540 shares of the oil and gas company’s stock worth $213,000 after purchasing an additional 236 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC boosted its position in SLB by 3.0% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 8,281 shares of the oil and gas company’s stock valued at $318,000 after purchasing an additional 238 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

SLB Company Profile

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.