SLB (NYSE:SLB) Price Target Raised to $69.00 at UBS Group

Key Points

• UBS raised its price target on SLB to $69 (from $61) and kept a "buy" rating, implying roughly a 24.03% upside from the current price.
• Analyst consensus remains positive—MarketBeat lists a "Moderate Buy" average rating and an average price target of $58.32, with multiple firms recently raising targets or reaffirming Buy/Outperform views.
• SLB shares trade around $55.63 (near a 12‑month high of $56.90); the company slightly beat EPS estimates ($0.52 vs. $0.51) last quarter while revenue of $8.72B narrowly missed expectations.

SLB (NYSE:SLB - Get Free Report) had its price target lifted by equities researchers at UBS Group from $61.00 to $69.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the oil and gas company's stock. UBS Group's target price indicates a potential upside of 24.03% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $61.00 price target on shares of SLB in a report on Monday. The Goldman Sachs Group raised their price target on SLB from $53.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, March 4th. Morgan Stanley set a $57.00 price target on SLB in a report on Monday. BMO Capital Markets raised their price target on SLB from $55.00 to $63.00 and gave the company an "outperform" rating in a report on Monday. Finally, Barclays raised their price target on SLB from $49.00 to $51.00 and gave the company an "overweight" rating in a report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $58.32.

SLB Price Performance

Shares of SLB traded down $0.02 during mid-day trading on Wednesday, reaching $55.63. The company had a trading volume of 13,331,957 shares, compared to its average volume of 19,697,326. The company's 50-day moving average is $50.48 and its 200-day moving average is $44.12. SLB has a twelve month low of $31.64 and a twelve month high of $56.90. The company has a market capitalization of $83.59 billion, a P/E ratio of 24.29, a P/E/G ratio of 3.79 and a beta of 0.69. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm had revenue of $8.72 billion during the quarter, compared to analysts' expectations of $8.76 billion. During the same period last year, the firm posted $0.72 EPS. The business's revenue was up 2.7% on a year-over-year basis. On average, equities analysts anticipate that SLB will post 2.67 EPS for the current year.

Institutional Investors Weigh In On SLB

Hedge funds and other institutional investors have recently made changes to their positions in the company. MV Capital Management Inc. acquired a new stake in shares of SLB in the 4th quarter valued at $28,000. Sound Income Strategies LLC boosted its position in shares of SLB by 71.1% in the 1st quarter. Sound Income Strategies LLC now owns 780 shares of the oil and gas company's stock worth $39,000 after purchasing an additional 324 shares during the last quarter. Steph & Co. boosted its position in shares of SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 394 shares during the last quarter. Strategic Wealth Advisors LLC bought a new position in shares of SLB in the 4th quarter worth $30,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of SLB in the 4th quarter worth $31,000. 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.

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