SLB (NYSE:SLB) Given New $56.10 Price Target at Sanford C. Bernstein

Key Points

• Sanford C. Bernstein raised its price target on SLB to $56.10 (from $52.30) and kept an "outperform" rating, implying roughly a 23.9% upside from the prior close.
• Shares fell about 6.0% to $45.29 despite SLB beating quarterly estimates (EPS $0.78 vs $0.74; revenue $9.75B vs $9.54B), leaving the stock below its 50‑day moving average.
• Analyst consensus remains constructive—MarketBeat shows a "Moderate Buy" consensus with an average price target of $53.16 after multiple firms raised targets, while insiders sold roughly 156,902 shares in the last quarter.

SLB (NYSE:SLB - Get Free Report) had its target price increased by investment analysts at Sanford C. Bernstein from $52.30 to $56.10 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the oil and gas company's stock. Sanford C. Bernstein's target price would indicate a potential upside of 23.86% from the stock's previous close.

Other equities analysts have also issued research reports about the stock. TD Cowen upped their price target on shares of SLB from $56.00 to $57.00 and gave the stock a "buy" rating in a research report on Thursday, December 11th. Citigroup upped their price objective on SLB from $53.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, January 26th. Wall Street Zen raised SLB from a "hold" rating to a "buy" rating in a research report on Saturday, February 28th. Bank of America lifted their target price on SLB from $50.00 to $55.00 and gave the company a "buy" rating in a report on Monday, January 26th. Finally, Morgan Stanley restated an "overweight" rating and set a $50.00 price target on shares of SLB in a research note on Wednesday, January 21st. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.16.

SLB Trading Down 6.0%

NYSE SLB traded down $2.88 during trading hours on Thursday, hitting $45.29. 3,354,633 shares of the company's stock were exchanged, compared to its average volume of 20,246,887. The business's 50 day moving average is $48.30 and its 200-day moving average is $40.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33. SLB has a 12-month low of $31.11 and a 12-month high of $52.45. The firm has a market capitalization of $68.06 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 3.27 and a beta of 0.68.

SLB (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.04. The company had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.54 billion. SLB had a net margin of 9.45% and a return on equity of 17.45%. The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 EPS. As a group, analysts anticipate that SLB will post 3.38 EPS for the current fiscal year.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 4,000 shares of the business's stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $50.29, for a total transaction of $201,160.00. Following the transaction, the director directly owned 19,525 shares of the company's stock, valued at approximately $981,912.25. The trade was a 17.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Dianne B. Ralston sold 18,617 shares of the company's stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.50, for a total value of $921,541.50. Following the completion of the transaction, the insider owned 224,097 shares of the company's stock, valued at approximately $11,092,801.50. This represents a 7.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 156,902 shares of company stock worth $7,796,666 in the last quarter. Insiders own 0.16% of the company's stock.

Institutional Investors Weigh In On SLB

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLB. Twin Peaks Wealth Advisors LLC bought a new stake in SLB in the second quarter valued at about $25,000. MV Capital Management Inc. acquired a new position in shares of SLB in the 4th quarter worth approximately $28,000. Root Financial Partners LLC bought a new stake in shares of SLB in the 3rd quarter valued at approximately $29,000. Strategic Wealth Advisors LLC bought a new stake in shares of SLB in the 4th quarter valued at approximately $30,000. Finally, Corsicana & Co. acquired a new stake in shares of SLB during the 3rd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

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.

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