SLB (NYSE:SLB) Price Target Raised to $55.00

SLB (NYSE:SLB) had its price objective upped by Morgan Stanley from $54.00 to $55.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Morgan Stanley’s target price would indicate a potential upside of 4.73% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on SLB. Citigroup reduced their target price on shares of SLB from $68.00 to $63.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. TD Cowen reaffirmed a “buy” rating and set a $64.00 price target (up from $62.00) on shares of SLB in a research report on Monday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of SLB in a research note on Tuesday, June 16th. Sanford C. Bernstein boosted their price objective on shares of SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. raised their target price on shares of SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.35.

SLB Stock Performance

Shares of NYSE SLB traded up $0.09 during trading hours on Monday, reaching $52.51. 6,857,743 shares of the stock were exchanged, compared to its average volume of 17,315,199. The firm has a market capitalization of $78.51 billion, a price-to-earnings ratio of 25.35, a P/E/G ratio of 2.12 and a beta of 0.72. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. SLB has a 52 week low of $31.64 and a 52 week high of $58.82. The stock’s fifty day simple moving average is $51.16 and its 200 day simple moving average is $50.60.

SLB (NYSE:SLB) last released its quarterly earnings results on Friday, July 24th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. SLB had a return on equity of 14.05% and a net margin of 8.53%.The business had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same period in the previous year, the company posted $0.74 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. Sell-side analysts predict that SLB will post 2.52 EPS for the current year.

Insider Activity

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the transaction, the executive vice president directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Merit Financial Group LLC increased its stake in shares of SLB by 6.4% in the 2nd quarter. Merit Financial Group LLC now owns 57,583 shares of the oil and gas company’s stock valued at $2,677,000 after purchasing an additional 3,473 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of SLB by 8.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 34,315 shares of the oil and gas company’s stock worth $1,595,000 after buying an additional 2,728 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in SLB by 10.2% in the second quarter. Fifth Third Wealth Advisors LLC now owns 50,099 shares of the oil and gas company’s stock valued at $2,329,000 after buying an additional 4,636 shares in the last quarter. Maryland Capital Advisors Inc. bought a new position in SLB in the second quarter valued at about $35,000. Finally, HM Payson & Co. grew its position in SLB by 6.0% in the second quarter. HM Payson & Co. now owns 17,714 shares of the oil and gas company’s stock valued at $824,000 after acquiring an additional 1,000 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: Analysts raised their forecasts following the earnings beat, while BMO Capital Markets increased its price target from $59 to $63 and maintained an “outperform” rating. SLB Analysts Increase Their Forecasts After Upbeat Q2 Results
• Positive Sentiment: Management’s outlook points to a gradual Middle East recovery, deepwater project growth and rising demand for digital services. These trends could support stronger revenue, margins and cash flow. SLB Q2 Earnings Call Flags Recovery Path and Deepwater Upside
• Positive Sentiment: SLB delivered sequential revenue growth, adjusted EBITDA growth and margin expansion. Expectations for fourth-quarter revenue above $10 billion and a 24% adjusted EBITDA margin reinforce the view that 2027 earnings may be stronger than currently reflected in the stock. SLB: A Stronger 2027 Is Not Fully Priced In
• Positive Sentiment: Investors are also viewing energy-security spending related to Middle East tensions and artificial-intelligence-driven demand for SLB’s digital offerings as potential longer-term growth catalysts. Why SLB Stock Surged This Past Week
• Neutral Sentiment: International revenue trends remain central to the investment case. A recovery in overseas activity could improve Wall Street estimates, but results remain dependent on regional spending and project timing. Assessing SLB’s International Revenue Trends
• Negative Sentiment: Year-over-year earnings declined, and Middle East disruptions remain a near-term headwind. The bullish reaction therefore depends on SLB converting its recovery and deepwater projections into sustained operating improvement.

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.