SLB (NYSE:SLB) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Key Points

• Stifel Nicolaus raised its price target on SLB to $52 (from $48) and maintains a "buy" rating; multiple firms have lifted targets recently and the MarketBeat consensus price target is $53.42 with an average rating of "Moderate Buy".
• SLB traded up about 3.4% to $48.05 midday on 10.26M shares (vs. a 22.0M average), sits near its 52-week high of $48.33, and has a market cap of $71.78 billion with a PE of 18.53.
• Insiders have been net sellers, disposing of 103,947 shares worth ~$3.87M over the last three months; insiders now own 0.22% of the stock while institutional investors hold about 81.99%.

SLB (NYSE:SLB - Get Free Report) had its price target raised by equities researchers at Stifel Nicolaus from $48.00 to $52.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the oil and gas company's stock. Stifel Nicolaus' price objective indicates a potential upside of 8.22% from the company's current price.

Several other equities analysts have also issued reports on the company. UBS Group boosted their price target on SLB from $44.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, December 12th. TD Cowen upped their target price 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. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $49.00 price objective on shares of SLB in a research note on Wednesday, January 14th. Rothschild Redb raised shares of SLB to a "strong-buy" rating in a report on Monday, November 3rd. Finally, Susquehanna upped their price target on shares of SLB from $42.00 to $52.00 and gave the company a "positive" rating in a report on Wednesday, January 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, SLB presently has an average rating of "Moderate Buy" and a consensus price target of $53.42.

SLB Stock Up 3.4%

SLB stock traded up $1.60 during midday trading on Wednesday, hitting $48.05. 10,264,361 shares of the company were exchanged, compared to its average volume of 22,003,484. SLB has a fifty-two week low of $31.11 and a fifty-two week high of $48.33. The company has a market cap of $71.78 billion, a PE ratio of 18.53 and a beta of 0.72. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. The company's fifty day moving average price is $39.40 and its 200-day moving average price is $36.43.

Insider Activity at SLB

In other news, Director Peter John Coleman sold 5,500 shares of the firm's stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $35.82, for a total value of $197,010.00. Following the completion of the sale, the director directly owned 18,671 shares in the company, valued at $668,795.22. This trade represents a 22.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Abdellah Merad sold 60,000 shares of the firm's stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the completion of the transaction, the executive vice president directly owned 159,371 shares in the company, valued at $6,006,692.99. This trade represents a 27.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 103,947 shares of company stock worth $3,871,337 over the last three months. Company 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 the company. Twin Peaks Wealth Advisors LLC bought a new position in shares of SLB during the second quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in SLB during the 4th quarter valued at about $31,000. Root Financial Partners LLC purchased a new position in SLB in the third quarter worth about $29,000. Corsicana & Co. bought a new position in shares of SLB in the third quarter worth approximately $31,000. Finally, Strengthening Families & Communities LLC bought a new position in shares of SLB in the third quarter worth approximately $31,000. 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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