Sanford C. Bernstein Raises SLB (NYSE:SLB) Price Target to $56.10

SLB (NYSE:SLB) had its price objective increased by research analysts at Sanford C. Bernstein from $52.30 to $56.10 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the oil and gas company’s stock. Sanford C. Bernstein’s price target indicates a potential upside of 25.45% from the stock’s previous close.

SLB has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their price target on SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Susquehanna upped their price objective on shares of SLB from $52.00 to $58.00 and gave the company a “positive” rating in a research note on Monday, January 26th. Argus upgraded shares of SLB to a “strong-buy” rating in a report on Monday, January 26th. Wall Street Zen raised shares of SLB from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, Citigroup boosted their price target on shares of SLB from $53.00 to $56.00 and gave the company a “buy” rating in a report on Monday, January 26th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.16.

SLB Price Performance

Shares of NYSE:SLB opened at $44.72 on Thursday. The company has a market capitalization of $67.19 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 3.03 and a beta of 0.68. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33. The stock has a fifty day moving average of $48.52 and a 200-day moving average of $40.40. SLB has a one year low of $31.11 and a one year high of $52.45.

SLB (NYSE:SLB) last issued its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The business had revenue of $9.75 billion for the quarter, compared to analysts’ expectations of $9.54 billion. SLB had a return on equity of 17.45% and a net margin of 9.45%.The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 EPS. As a group, equities analysts anticipate that SLB will post 3.38 EPS for the current fiscal year.

Insider Buying and Selling at SLB

In other SLB news, insider Dianne B. Ralston sold 18,617 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.50, for a total value of $921,541.50. Following the transaction, the insider directly owned 224,097 shares of the company’s stock, valued at $11,092,801.50. This represents a 7.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Howard Guild sold 13,268 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $659,419.60. Following the sale, the chief accounting officer directly owned 22,407 shares of the company’s stock, valued at $1,113,627.90. This trade represents a 37.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 156,902 shares of company stock valued at $7,796,666 in the last quarter. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On SLB

Several large investors have recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in SLB by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after acquiring an additional 1,166 shares during the last quarter. Bison Wealth LLC acquired a new position in shares of SLB during the 4th quarter worth $238,000. AE Wealth Management LLC increased its stake in shares of SLB by 73.6% during the 2nd quarter. AE Wealth Management LLC now owns 37,836 shares of the oil and gas company’s stock worth $1,279,000 after purchasing an additional 16,040 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of SLB by 4.0% during the 2nd quarter. ProShare Advisors LLC now owns 291,243 shares of the oil and gas company’s stock valued at $9,844,000 after purchasing an additional 11,093 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of SLB by 7.6% during the 2nd quarter. Allworth Financial LP now owns 24,279 shares of the oil and gas company’s stock valued at $821,000 after purchasing an additional 1,721 shares in the last quarter. 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.