SLB (NYSE:SLB) Price Target Raised to $63.00 at BMO Capital Markets

Key Points

• BMO Capital Markets raised its price target on SLB from $55 to $63 and reiterated an "outperform" rating, implying about a 13.11% upside from the prior close.
• Analyst sentiment is broadly positive with a consensus rating of "Moderate Buy" and a consensus target of $56.53; the street counts include 3 Strong Buy, 16 Buy, 3 Hold and 1 Sell, and several firms recently raised targets (e.g., TD Cowen to $66).
• Shares traded at $55.70 (down ~0.8%) with a market cap of $83.69B and a 52‑week range of $31.64–$56.90; SLB reported Q1 EPS of $0.52 (beat $0.51) and revenue of $8.72B, up 2.7% year‑over‑year.

SLB (NYSE:SLB - Get Free Report) had its price objective raised by BMO Capital Markets from $55.00 to $63.00 in a research note issued to investors on Monday, MarketBeat.com reports. The firm presently has an "outperform" rating on the oil and gas company's stock. BMO Capital Markets' price target indicates a potential upside of 13.11% from the company's previous close.

A number of other equities analysts also recently commented on the stock. Bank of America increased their price objective on shares of SLB from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Monday, January 26th. Sanford C. Bernstein upped their target price on SLB from $52.30 to $56.10 and gave the stock an "outperform" rating in a report on Thursday, March 12th. Stifel Nicolaus increased their price target on SLB from $56.00 to $61.00 and gave the company a "buy" rating in a research report on Monday. TD Cowen raised their price target on SLB from $55.00 to $66.00 and gave the company a "buy" rating in a research note on Monday. Finally, The Goldman Sachs Group boosted their price target on SLB from $53.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, March 4th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $56.53.

SLB Stock Down 0.8%

Shares of NYSE SLB traded down $0.45 during midday trading on Monday, reaching $55.70. The company's stock had a trading volume of 3,671,433 shares, compared to its average volume of 19,747,113. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. SLB has a fifty-two week low of $31.64 and a fifty-two week high of $56.90. The stock has a market capitalization of $83.69 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 3.85 and a beta of 0.69. The stock has a 50 day simple moving average of $50.27 and a 200-day simple moving average of $43.79.

SLB (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, April 24th. The oil and gas company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. The business had revenue of $8.72 billion during the quarter, compared to analysts' expectations of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The firm's revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.72 earnings per share. Equities research analysts predict that SLB will post 2.67 earnings per share for the current year.

Hedge Funds Weigh In On SLB

A number of large investors have recently made changes to their positions in the company. MV Capital Management Inc. bought a new position in SLB during the 4th quarter worth $28,000. Root Financial Partners LLC bought a new position in shares of SLB in the 3rd quarter valued at $29,000. Strategic Wealth Advisors LLC bought a new position in SLB in the fourth quarter valued at about $30,000. Strengthening Families & Communities LLC acquired a new position in SLB during the 3rd quarter worth approximately $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of SLB during the fourth quarter worth $31,000. Institutional investors own 81.99% of the company's stock.

SLB Company Profile

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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