SLB (NYSE:SLB) Price Target Raised to $54.00 at JPMorgan Chase & Co.

SLB (NYSE:SLB) had its price objective hoisted by equities researchers at JPMorgan Chase & Co. from $43.00 to $54.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 9.52% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler lifted their price objective on shares of SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Bank of America lifted their price target on shares of SLB from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday. Stifel Nicolaus increased their price objective on shares of SLB from $48.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. TD Cowen raised their price objective on SLB from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, Citigroup reiterated a “buy” rating and issued a $56.00 target price (up from $53.00) on shares of SLB in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and an average target price of $51.70.

SLB Price Performance

SLB stock traded up $0.16 during trading on Monday, reaching $49.31. The company’s stock had a trading volume of 6,101,737 shares, compared to its average volume of 23,211,436. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. The company’s fifty day moving average is $40.14 and its 200-day moving average is $36.71. The company has a market capitalization of $73.66 billion, a P/E ratio of 20.92 and a beta of 0.72. SLB has a 1 year low of $31.11 and a 1 year high of $51.67.

SLB (NYSE:SLB) last released its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $9.75 billion during the quarter, compared to analyst estimates of $9.54 billion. SLB had a return on equity of 17.45% and a net margin of 9.45%.The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 earnings per share. On average, research analysts expect that SLB will post 3.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Peter John Coleman sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total value of $197,010.00. Following the completion of the sale, the director owned 18,671 shares in the company, valued at approximately $668,795.22. This trade represents a 22.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the completion of the sale, 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 SEC filing for this sale provides additional information. Insiders sold a total of 103,947 shares of company stock worth $3,871,337 over the last three months. 0.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SLB. Brighton Jones LLC raised its position in SLB by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 1,166 shares in the last quarter. Bison Wealth LLC purchased a new position in shares of SLB during the fourth quarter valued at $238,000. Patton Fund Management Inc. bought a new stake in shares of SLB in the second quarter valued at about $216,000. Avior Wealth Management LLC raised its holdings in shares of SLB by 70.4% in the second quarter. Avior Wealth Management LLC now owns 8,905 shares of the oil and gas company’s stock valued at $301,000 after acquiring an additional 3,678 shares in the last quarter. Finally, Washington Capital Management Inc. lifted its stake in SLB by 22.4% in the second quarter. Washington Capital Management Inc. now owns 37,185 shares of the oil and gas company’s stock worth $1,257,000 after acquiring an additional 6,800 shares during the period. 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.