SLB (NYSE:SLB) Stock Rating Upgraded by Freedom Broker

SLB (NYSE:SLB - Get Free Report) was upgraded by analysts at Freedom Broker from a "sell" rating to a "hold" rating in a note issued to investors on Monday, Benzinga reports. The firm currently has a $48.00 price objective on the oil and gas company's stock. Freedom Broker's price target points to a potential downside of 9.61% from the stock's previous close.

A number of other equities research analysts have also commented on the stock. The Goldman Sachs Group decreased their price objective on SLB from $63.00 to $62.00 in a report on Tuesday, July 7th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of SLB in a research note on Tuesday, September 1st. Capital One Financial decreased their price target on shares of SLB from $64.00 to $63.00 and set an "overweight" rating for the company in a research note on Tuesday, August 18th. Wolfe Research assumed coverage on shares of SLB in a research report on Wednesday, July 8th. They issued an "outperform" rating and a $62.00 price objective on the stock. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of SLB in a research report on Monday, August 3rd. Twenty-four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $61.52.

SLB Trading Up 0.1%

Shares of SLB stock traded up $0.04 on Monday, hitting $53.10. The stock had a trading volume of 12,783,077 shares, compared to its average volume of 15,844,092. The company has a current ratio of 1.39, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. SLB has a twelve month low of $34.65 and a twelve month high of $60.46. The company has a fifty day moving average price of $52.57 and a two-hundred day moving average price of $52.17. The firm has a market cap of $78.81 billion, a P/E ratio of 25.78, a PEG ratio of 2.92 and a beta of 0.83.

SLB (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. SLB had a return on equity of 13.77% and a net margin of 8.40%. The firm had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same period in the previous year, the company posted $0.69 earnings per share. The company's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, analysts forecast that SLB will post 2.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SLB. State Street Corp lifted its stake in shares of SLB by 0.8% in the 2nd quarter. State Street Corp now owns 91,222,641 shares of the oil and gas company's stock valued at $4,267,269,000 after acquiring an additional 722,060 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in SLB by 1.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 28,913,733 shares of the oil and gas company's stock worth $1,344,199,000 after purchasing an additional 537,566 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in SLB in the 2nd quarter worth about $1,339,567,000. Amundi increased its holdings in SLB by 15.8% in the 2nd quarter. Amundi now owns 19,815,245 shares of the oil and gas company's stock worth $921,211,000 after purchasing an additional 2,698,766 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in SLB by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 15,901,998 shares of the oil and gas company's stock valued at $817,246,000 after purchasing an additional 169,468 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Key Stories Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB reported third-quarter EPS of $0.64, above the $0.62 consensus estimate, while revenue of $9.45 billion exceeded expectations of $9.27 billion and rose 5.8% year over year. Positive cash flow and growth across regions—including a 13% sequential increase in Middle East revenue—helped support the recent share advance. SLB revenue rises 5% as cash flow stays positive in quarter
• Positive Sentiment: Management cited broad-based momentum in production systems, subsea operations, North America, offshore international markets and digital services. The ChampionX integration and a growing subsea backlog were identified as important longer-term growth drivers. The 5 most interesting analyst questions from SLB’s Q3 earnings call
• Positive Sentiment: SLB opened a Canadian modular data-center infrastructure facility intended to support Meta projects. The initiative expands the company’s exposure beyond oilfield services and could provide additional growth tied to hyperscale data-center demand. SLB opens Canada facility after data center win

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.