TD Cowen Raises SLB (NYSE:SLB) Price Target to $66.00

Key Points

• TD Cowen raised its price target for SLB to $66.00 (from $55), keeping a "buy" rating and implying roughly a 18.23% upside from the current share price.
• SLB reported quarterly EPS of $0.52, beating estimates by $0.01, and revenue of $8.72 billion (slightly below consensus) with revenue up 2.7% year‑over‑year.
• The stock has a consensus rating of "Moderate Buy" with an average analyst target of $56.01, most analysts rated it Buy or Strong Buy, and institutional investors own about 82% of the shares.

SLB (NYSE:SLB - Get Free Report) had its price objective hoisted by research analysts at TD Cowen from $55.00 to $66.00 in a research note issued to investors on Monday, MarketBeat reports. The firm presently has a "buy" rating on the oil and gas company's stock. TD Cowen's price target would indicate a potential upside of 18.23% from the stock's current price.

A number of other equities research analysts also recently commented on the company. Loop Capital set a $48.00 target price on SLB in a research report on Tuesday, January 27th. UBS Group restated a "buy" rating on shares of SLB in a research report on Tuesday, January 27th. Weiss Ratings upgraded SLB from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday. Morgan Stanley lifted their target price on SLB from $50.00 to $55.00 and gave the company an "overweight" rating in a research report on Wednesday, April 15th. Finally, Argus upgraded SLB to a "strong-buy" rating in a research report on Monday, January 26th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $56.01.

SLB Trading Down 0.6%

NYSE:SLB traded down $0.33 on Monday, reaching $55.82. The company's stock had a trading volume of 1,390,273 shares, compared to its average volume of 19,708,316. SLB has a 12-month low of $31.64 and a 12-month high of $56.90. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The firm has a market cap of $83.88 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 3.85 and a beta of 0.69. The stock has a 50 day moving average price of $50.27 and a 200 day moving average price of $43.79.

SLB (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, April 24th. The oil and gas company reported $0.52 EPS 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 company had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. The company's revenue for the quarter 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 fiscal year.

Institutional Investors Weigh In On SLB

A number of institutional investors have recently modified their holdings of SLB. Synergy Asset Management LLC grew its position in shares of SLB by 100.0% in the third quarter. Synergy Asset Management LLC now owns 80,830 shares of the oil and gas company's stock valued at $2,732,000 after purchasing an additional 40,415 shares during the last quarter. Americana Partners LLC increased its stake in shares of SLB by 10.1% during the 3rd quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company's stock worth $8,526,000 after purchasing an additional 22,706 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of SLB by 13.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 210,056 shares of the oil and gas company's stock worth $7,220,000 after purchasing an additional 25,417 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of SLB by 4.9% during the 3rd quarter. Nordea Investment Management AB now owns 2,157,885 shares of the oil and gas company's stock worth $72,354,000 after purchasing an additional 100,918 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG increased its stake in shares of SLB by 1,937.4% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company's stock worth $34,265,000 after purchasing an additional 948,015 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

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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