SLB Limited (NYSE:SLB) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• SLB has a consensus analyst rating of "Moderate Buy" from 23 firms, with most analysts rating it a buy or strong buy. The average 1-year price target is $60.30.
• Recent analyst reports were generally positive, with several firms raising price targets or maintaining buy-style ratings. Notable targets include JPMorgan at $61, Stifel at $64, and Jefferies at $65.
• SLB’s latest quarterly results slightly beat EPS expectations, reporting $0.52 per share versus the expected $0.51, while revenue came in a bit below estimates at $8.72 billion. The company also reported 2.7% year-over-year revenue growth.

SLB Limited (NYSE:SLB - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twenty-three ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eighteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $60.30.

SLB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on SLB from $54.00 to $61.00 and gave the company an "overweight" rating in a report on Monday, April 27th. Raymond James Financial dropped their price target on SLB from $62.00 to $61.00 and set an "outperform" rating on the stock in a research report on Friday, July 10th. Stifel Nicolaus increased their price objective on SLB from $61.00 to $64.00 and gave the stock a "buy" rating in a research note on Thursday, June 18th. Piper Sandler raised their price objective on SLB from $53.00 to $59.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $65.00 target price on shares of SLB in a research note on Sunday, April 26th.

SLB Stock Performance

Shares of NYSE SLB opened at $47.72 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $71.34 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.88 and a beta of 0.72. SLB has a 52-week low of $31.64 and a 52-week high of $58.82. The stock's fifty day simple moving average is $51.39 and its 200 day simple moving average is $50.49.

SLB (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The firm had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. During the same quarter last year, the business posted $0.72 EPS. The company's revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts forecast that SLB will post 2.52 earnings per share for the current fiscal year.

Insider Activity at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the transaction, the director owned 16,953 shares in the company, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the sale, the executive vice president owned 47,421 shares of the company's stock, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.16% of the company's stock.

Hedge Funds Weigh In On SLB

Hedge funds have recently modified their holdings of the stock. Merit Financial Group LLC boosted its position in SLB by 6.4% during the second quarter. Merit Financial Group LLC now owns 57,583 shares of the oil and gas company's stock valued at $2,677,000 after purchasing an additional 3,473 shares during the last quarter. Farther Finance Advisors LLC grew its stake in SLB by 8.6% in the second quarter. Farther Finance Advisors LLC now owns 34,315 shares of the oil and gas company's stock valued at $1,595,000 after purchasing an additional 2,728 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its position in SLB by 10.2% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 50,099 shares of the oil and gas company's stock worth $2,329,000 after purchasing an additional 4,636 shares during the last quarter. Maryland Capital Advisors Inc. acquired a new position in SLB in the 2nd quarter worth about $35,000. Finally, HM Payson & Co. raised its stake in shares of SLB by 6.0% during the 2nd quarter. HM Payson & Co. now owns 17,714 shares of the oil and gas company's stock worth $824,000 after purchasing an additional 1,000 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.