SLB (NYSE:SLB) Upgraded at Zacks Research

SLB (NYSE:SLB) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research analysts have also recently commented on SLB. Sanford C. Bernstein upped their target price on SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. raised their price target on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. UBS Group dropped their price objective on SLB from $69.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Wolfe Research started coverage on SLB in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 target price on the stock. Finally, Stifel Nicolaus boosted their target price on shares of SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and an average price target of $61.35.

SLB Trading Up 0.7%

SLB stock opened at $53.66 on Tuesday. SLB has a twelve month low of $31.64 and a twelve month high of $58.82. The stock has a market capitalization of $79.64 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 3.52 and a beta of 0.73. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The firm’s fifty day simple moving average is $49.38 and its two-hundred day simple moving average is $51.34.

SLB (NYSE:SLB) last released its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 EPS. As a group, analysts anticipate that SLB will post 2.5 earnings per share for the current year.

Institutional Trading of SLB

A number of hedge funds have recently added to or reduced their stakes in the business. Evergreen Advisors LLC purchased a new position in SLB during the 1st quarter valued at about $26,000. MV Capital Management Inc. purchased a new stake in shares of SLB in the 4th quarter worth approximately $28,000. Strategic Wealth Advisors LLC purchased a new stake in shares of SLB in the 4th quarter worth approximately $30,000. Costello Asset Management INC boosted its stake in shares of SLB by 93.3% during the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 280 shares in the last quarter. Finally, Lloyd Advisory Services LLC. bought a new position in shares of SLB during the fourth quarter valued at approximately $31,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: New North Sea carbon-storage contract: SLB was selected as strategic reservoir partner for Norway’s Havstjerne carbon-storage project. The company will provide reservoir technology and engineering services during the concept and front-end engineering and design phases, strengthening its position in Europe’s emerging carbon-capture and storage market. SLB selected as reservoir partner for Havstjerne carbon storage project
• Positive Sentiment: Potential Venezuelan growth opportunity: A contract with Venezuela’s state-run PDVSA reportedly gives SLB access to the country’s oilfield data. Access to data from one of the world’s largest oil-reserve holders could create opportunities for future reservoir evaluation, production optimization and oilfield-services work, though the commercial benefits remain uncertain. SLB gains access to Venezuela’s coveted oilfield data through contract
• Neutral Sentiment: CEO share sale: Chief Executive Olivier Le Peuch sold 25,000 SLB shares under a prearranged Rule 10b5-1 trading plan. Because the transaction was scheduled in advance, it does not necessarily signal a change in management’s view of the company, but it can still attract investor attention. SLB CEO Olivier Le Peuch executes sale of 25,000 shares
• Negative Sentiment: Recent trading weakness: SLB declined in the prior session even as the broader market advanced, indicating some relative investor caution despite the new project announcements. SLB stock falls amid market uptick

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.