SLB (NYSE:SLB) Given New $43.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has reduced SLB's price target from $44.00 to $43.00, maintaining an "overweight" rating which suggests a potential upside of 28.65% from its current price.
• SLB has received a consensus rating of "Moderate Buy" among analysts, with a target price averaging $52.00.
• In its recent quarterly earnings report, SLB posted an EPS of $0.69, slightly surpassing expectations but showing a 2.5% decline in revenue compared to the previous year.

SLB (NYSE:SLB - Get Free Report) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $44.00 to $43.00 in a report released on Monday,Benzinga reports. The firm presently has an "overweight" rating on the oil and gas company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 28.65% from the company's current price.

Several other research analysts also recently weighed in on the company. Atb Cap Markets upgraded SLB from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Susquehanna dropped their price target on SLB from $44.00 to $42.00 and set a "positive" rating for the company in a research note on Monday, July 21st. Melius Research started coverage on SLB in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price objective on the stock. Barclays decreased their price objective on SLB from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Finally, Piper Sandler set a $42.00 price objective on SLB and gave the stock an "overweight" rating in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.00.

SLB Price Performance

SLB stock traded up $0.80 during midday trading on Monday, hitting $33.43. The company's stock had a trading volume of 17,850,549 shares, compared to its average volume of 16,483,430. SLB has a 12 month low of $31.11 and a 12 month high of $44.97. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $49.92 billion, a price-to-earnings ratio of 12.91, a price-to-earnings-growth ratio of 9.13 and a beta of 0.97. The company has a 50 day moving average of $34.49 and a two-hundred day moving average of $34.50.

SLB (NYSE:SLB - Get Free Report) last posted its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The business had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.99 billion. During the same period in the prior year, the company posted $0.89 EPS. The firm's revenue for the quarter was down 2.5% compared to the same quarter last year. On average, analysts expect that SLB will post 3.38 EPS for the current year.

Insiders Place Their Bets

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the sale, the insider owned 202,201 shares in the company, valued at $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.22% of the company's stock.

Institutional Trading of SLB

A number of hedge funds and other institutional investors have recently bought and sold shares of SLB. Twin Peaks Wealth Advisors LLC purchased a new stake in SLB in the second quarter worth $25,000. First Command Advisory Services Inc. grew its position in shares of SLB by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after buying an additional 477 shares in the last quarter. Atticus Wealth Management LLC bought a new position in shares of SLB during the 2nd quarter worth $29,000. Corsicana & Co. bought a new position in shares of SLB during the 3rd quarter worth $31,000. Finally, Atlas Capital Advisors Inc. bought a new position in shares of SLB during the 1st quarter worth $33,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

About SLB

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.

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