SLB (NYSE:SLB) Price Target Raised to $69.00 at UBS Group

SLB (NYSE:SLB) had its price objective lifted by stock analysts at UBS Group from $61.00 to $69.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. UBS Group’s target price points to a potential upside of 24.03% from the stock’s current price.

Several other research analysts have also issued reports on SLB. Royal Bank Of Canada restated an “outperform” rating and issued a $61.00 price target on shares of SLB in a research report on Monday. Citigroup lifted their target price on SLB from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Loop Capital set a $48.00 target price on SLB in a report on Tuesday, January 27th. Jefferies Financial Group reiterated a “buy” rating and set a $65.00 target price on shares of SLB in a report on Sunday. Finally, Weiss Ratings upgraded SLB from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 22nd. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.32.

SLB Trading Down 0.0%

Shares of NYSE:SLB traded down $0.02 during midday trading on Wednesday, hitting $55.63. The company had a trading volume of 13,331,957 shares, compared to its average volume of 19,697,326. SLB has a 12 month low of $31.64 and a 12 month high of $56.90. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. The stock has a market cap of $83.59 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 3.79 and a beta of 0.69. The firm has a fifty day simple moving average of $50.48 and a 200 day simple moving average of $44.12.

SLB (NYSE:SLB) last posted its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same period last year, the company earned $0.72 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. On average, analysts predict that SLB will post 2.67 EPS for the current year.

Institutional Trading of SLB

Hedge funds and other institutional investors have recently modified their holdings of the company. MV Capital Management Inc. acquired a new stake in shares of SLB in the 4th quarter valued at about $28,000. Sound Income Strategies LLC raised its stake in shares of SLB by 71.1% in the 1st quarter. Sound Income Strategies LLC now owns 780 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 324 shares during the period. Steph & Co. raised its stake in shares of SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 394 shares during the period. Strategic Wealth Advisors LLC acquired a new stake in shares of SLB in the 4th quarter valued at about $30,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SLB in the 4th quarter valued at about $31,000. Institutional investors and hedge funds 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.