SLB (NYSE:SLB) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

SLB Limited (NYSE:SLB - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $51.52 and traded as high as $51.69. SLB shares last traded at $51.5750, with a volume of 5,075,258 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SLB shares. Capital One Financial lowered their price objective 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. Barclays dropped their target price on SLB from $66.00 to $63.00 and set an "overweight" rating on the stock in a research report on Monday, October 26th. Freedom Broker upgraded shares of SLB from a "sell" rating to a "hold" rating and set a $48.00 price target on the stock in a report on Monday, October 26th. Citigroup decreased their price objective on shares of SLB from $63.00 to $62.00 and set a "buy" rating for the company in a research note on Monday, October 19th. Finally, BMO Capital Markets restated an "outperform" rating and set a $62.00 price objective (down from $63.00) on shares of SLB in a research note on Tuesday, September 1st. Twenty-three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.63.

SLB Price Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.39 and a quick ratio of 1.02. The stock has a 50 day moving average price of $51.48 and a 200-day moving average price of $51.52. The stock has a market capitalization of $76.13 billion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 2.83 and a beta of 0.80.

SLB (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, October 23rd. The oil and gas company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. The business had revenue of $9.45 billion during the quarter, compared to analysts' expectations of $9.27 billion. SLB had a net margin of 8.40% and a return on equity of 13.77%. The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 earnings per share. On average, analysts forecast that SLB Limited will post 2.46 earnings per share for the current year.

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 2nd will be issued a $0.2950 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, December 2nd. SLB's dividend payout ratio (DPR) is currently 57.28%.

Insider Activity at SLB

In related news, CAO Howard Guild sold 10,047 shares of the firm's stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $53.65, for a total transaction of $539,021.55. Following the completion of the sale, the chief accounting officer directly owned 12,845 shares of the company's stock, valued at approximately $689,134.25. This trade represents a 43.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dianne B. Ralston sold 20,986 shares of the business's stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $53.57, for a total value of $1,124,220.02. Following the completion of the sale, the insider directly owned 205,053 shares in the company, valued at approximately $10,984,689.21. The trade was a 9.28% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by company insiders.

Institutional Trading of SLB

Large investors have recently made changes to their positions in the company. Saudi Central Bank raised its stake in SLB by 90.6% during the 2nd quarter. Saudi Central Bank now owns 105,079 shares of the oil and gas company's stock valued at $4,885,000 after purchasing an additional 49,937 shares during the period. State Street Corp grew its holdings in shares of SLB by 0.8% during the second 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 buying an additional 722,060 shares in the last quarter. Bank of America Corp DE grew its stake in SLB by 11.1% during the 1st quarter. Bank of America Corp DE now owns 10,536,104 shares of the oil and gas company's stock valued at $541,450,000 after acquiring an additional 1,052,239 shares in the last quarter. Nan Shan Life Insurance Co. Ltd. grew its stake in SLB by 513.8% during the 2nd quarter. Nan Shan Life Insurance Co. Ltd. now owns 736,544 shares of the oil and gas company's stock valued at $34,242,000 after acquiring an additional 616,544 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of SLB by 2.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,269,354 shares of the oil and gas company's stock valued at $105,502,000 after purchasing an additional 53,224 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

About SLB

SLB NYSE: SLB, formerly known as Schlumberger, is a global technology company serving the energy industry. Founded in 1926, the company adopted the SLB name in 2022 and provides technologies and services across the energy value chain. Its offerings include subsurface evaluation, drilling and well-construction services, production systems, and digital tools that help customers plan and manage energy projects. SLB also develops solutions for areas such as carbon capture and storage, geothermal energy, and lithium production.

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