SLB Limited (NYSE:SLB) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts remain broadly positive on SLB: Twenty-three firms give the stock a consensus “Moderate Buy” rating, including 18 buys and two strong buys. The average 12-month price target is $61.80, compared with a recent price of $50.26.
• SLB exceeded quarterly expectations: The oilfield services company reported adjusted earnings of $0.55 per share and revenue of $8.97 billion, surpassing analyst estimates of $0.51 and $8.67 billion, respectively. Revenue increased 5% year over year.
• Investors receive a 2.3% dividend yield: SLB declared a quarterly dividend of $0.295 per share, or $1.18 annually, representing a 57% payout ratio.

Shares of SLB Limited (NYSE:SLB - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty-three ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $61.80.

SLB has been the topic of a number of recent research reports. BMO Capital Markets restated an "outperform" rating on shares of SLB in a report on Tuesday, September 1st. Royal Bank Of Canada reiterated an "outperform" rating and set a $61.00 price target on shares of SLB in a report on Tuesday, June 16th. Susquehanna increased their price target on SLB from $55.00 to $62.00 and gave the company a "positive" rating in a research report on Monday, July 27th. Sanford C. Bernstein restated an "outperform" rating on shares of SLB in a research note on Tuesday, September 1st. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of SLB in a report on Monday, August 3rd.

SLB Trading Up 3.1%

NYSE:SLB opened at $50.26 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05. SLB has a one year low of $31.64 and a one year high of $60.46. The company has a market cap of $74.60 billion, a PE ratio of 24.28, a PEG ratio of 2.78 and a beta of 0.83. The firm has a 50-day moving average of $53.01 and a 200-day moving average of $52.21.

SLB (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $8.97 billion for 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 quarter last year, the firm earned $0.74 EPS. As a group, equities research analysts expect that SLB will post 2.49 EPS for the current fiscal year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be given a dividend of $0.2950 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB's dividend payout ratio (DPR) is presently 57.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Evergreen Advisors LLC bought a new position in shares of SLB during the 1st quarter worth approximately $26,000. Costello Asset Management INC grew its holdings in shares of SLB by 93.3% in the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 280 shares in the last quarter. Arlington Trust Co LLC grew its holdings in shares of SLB by 66.5% in the second quarter. Arlington Trust Co LLC now owns 701 shares of the oil and gas company's stock valued at $33,000 after acquiring an additional 280 shares in the last quarter. MV Capital Management Inc. purchased a new stake in shares of SLB during the fourth quarter valued at approximately $28,000. Finally, Maryland Capital Advisors Inc. purchased a new stake in shares of SLB during the second quarter valued at approximately $35,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

About SLB

SLB, formerly known as Schlumberger, is a global technology and services company serving the energy industry. The company provides equipment, technology, and technical expertise used to evaluate underground reservoirs, drill and complete wells, and optimize oil and natural gas production.

Its offerings include seismic and subsurface evaluation, well construction and drilling services, well completions, production systems, reservoir management, artificial lift, and related software and digital solutions.

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