SLB's (SLB) Outperform Rating Reaffirmed at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reiterated its outperform rating on SLB and kept a $61 price target, implying about 12.78% upside from the prior close.
• Other analysts remain broadly positive on SLB, with recent target raises from firms including UBS, Piper Sandler, Susquehanna, and BMO Capital Markets. MarketBeat shows a Moderate Buy consensus and an average target of $60.67.
• SLB shares traded at $54.09, and the company recently reported Q1 EPS of $0.52, edging past estimates. Revenue came in at $8.72 billion, slightly below expectations, while insiders also disclosed recent stock sales.

SLB (NYSE:SLB - Get Free Report)'s stock had its "outperform" rating reiterated by equities researchers at Royal Bank Of Canada in a note issued to investors on Tuesday,Benzinga reports. They presently have a $61.00 price target on the oil and gas company's stock. Royal Bank Of Canada's price objective would indicate a potential upside of 12.78% from the company's previous close.

Several other analysts have also commented on the stock. Wall Street Zen lowered shares of SLB from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. UBS Group increased their target price on shares of SLB from $61.00 to $69.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Piper Sandler raised their target price on SLB from $53.00 to $59.00 and gave the company an "overweight" rating in a research report on Wednesday, April 15th. Susquehanna lifted their price target on SLB from $60.00 to $65.00 and gave the company a "positive" rating in a research note on Monday, April 27th. Finally, BMO Capital Markets increased their price target on SLB from $55.00 to $63.00 and gave the stock an "outperform" rating in a research report on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $60.67.

SLB Stock Performance

SLB stock traded up $0.38 during trading on Tuesday, hitting $54.09. 1,879,034 shares of the company traded hands, compared to its average volume of 17,571,447. SLB has a 1 year low of $31.64 and a 1 year high of $58.82. The company has a market cap of $80.86 billion, a PE ratio of 23.57, a P/E/G ratio of 2.28 and a beta of 0.70. The stock's 50-day simple moving average is $54.72 and its 200 day simple moving average is $48.72. 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 issued its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business had revenue of $8.72 billion for the quarter, compared to analysts' expectations of $8.76 billion. During the same quarter last year, the company earned $0.72 EPS. The business's revenue was up 2.7% on a year-over-year basis. On average, equities analysts expect that SLB will post 2.62 earnings per share for the current fiscal year.

Insider Buying and Selling at SLB

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the firm's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the transaction, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the sale, the director directly owned 16,953 shares in the company, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by corporate insiders.

Institutional Trading of SLB

A number of hedge funds have recently bought and sold shares of the business. Brighton Jones LLC boosted its stake in SLB by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock worth $253,000 after buying an additional 1,166 shares during the last quarter. Bison Wealth LLC acquired a new stake in shares of SLB in the 4th quarter worth $238,000. Marshall Wace LLP purchased a new position in shares of SLB during the 2nd quarter worth $8,628,000. Nebula Research & Development LLC boosted its position in shares of SLB by 76.0% during the 2nd quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company's stock valued at $824,000 after acquiring an additional 10,522 shares during the last quarter. Finally, Diversify Advisory Services LLC boosted its position in shares of SLB by 7.6% during the 2nd quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company's stock valued at $373,000 after acquiring an additional 799 shares during the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.