Brokerages Set SLB Limited (NYSE:SLB) Target Price at $61.35

SLB Limited (NYSE:SLB) has received an average recommendation of “Moderate Buy” from the twenty-three analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $61.35.

A number of research firms recently commented on SLB. Weiss Ratings reiterated a “hold (c)” rating on shares of SLB in a report on Monday, August 3rd. BMO Capital Markets raised their price objective on SLB from $59.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Sanford C. Bernstein lifted their target price on SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Evercore reissued an “outperform” rating and set a $66.00 target price on shares of SLB in a report on Monday, July 27th. Finally, UBS Group decreased their target price on SLB from $69.00 to $66.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st.

Hedge Funds Weigh In On SLB

Several large investors have recently modified their holdings of SLB. Abel Hall LLC boosted its holdings in shares of SLB by 2.7% during the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock worth $387,000 after buying an additional 198 shares during the period. E Fund Management Co. Ltd. grew its stake in SLB by 3.6% in the 2nd quarter. E Fund Management Co. Ltd. now owns 5,712 shares of the oil and gas company’s stock valued at $266,000 after buying an additional 199 shares during the last quarter. Private Wealth Asset Management LLC raised its holdings in SLB by 4.1% in the 4th quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock valued at $193,000 after acquiring an additional 200 shares during the period. Capital Advisors Ltd. LLC lifted its position in SLB by 9.3% during the first quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock worth $129,000 after acquiring an additional 214 shares during the last quarter. Finally, Ballentine Partners LLC lifted its position in SLB by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock worth $395,000 after acquiring an additional 218 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

SLB Stock Performance

Shares of SLB opened at $53.90 on Monday. The firm has a 50-day moving average of $49.30 and a 200-day moving average of $51.24. SLB has a one year low of $31.64 and a one year high of $58.82. The company has a market cap of $80.00 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 3.53 and a beta of 0.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05.

SLB (NYSE:SLB) last issued its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. SLB had a net margin of 8.53% and a return on equity of 14.05%. The company had revenue of $8.97 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same period in the prior year, the firm earned $0.74 EPS. SLB’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, equities analysts forecast that SLB will post 2.5 earnings per share for the current year.

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Wednesday, September 2nd will be issued a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 2nd. SLB’s payout ratio is currently 57.00%.

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.