SLB Limited (NYSE:SLB) Stock Has Average Target Price of $61.52 According to Analysts

SLB Limited (NYSE:SLB) has earned a consensus recommendation of “Moderate Buy” from the twenty-eight research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $61.52.

A number of equities analysts have recently issued reports on SLB shares. Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 price objective (up from $65.00) on shares of SLB in a report on Sunday, July 26th. Barclays lowered their target price on shares of SLB from $66.00 to $63.00 and set an “overweight” rating on the stock in a research note on Monday, October 26th. TD Cowen reiterated a “buy” rating on shares of SLB in a research report on Monday, October 26th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of SLB in a research note on Tuesday, September 1st. Finally, Piper Sandler boosted their target price on shares of SLB from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 26th.

SLB Price Performance

SLB opened at $49.96 on Friday. The firm has a market capitalization of $73.74 billion, a PE ratio of 24.25, a P/E/G ratio of 2.90 and a beta of 0.80. The company has a fifty day moving average price of $52.21 and a two-hundred day moving average price of $51.48. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.39. SLB has a 52 week low of $34.65 and a 52 week high of $60.46.

SLB (NYSE:SLB) last issued its earnings results on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.27 billion. SLB had a net margin of 8.40% and a return on equity of 13.77%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $0.69 earnings per share. As a group, analysts anticipate that SLB will post 2.46 earnings per share for the current year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 2nd will be given a $0.2950 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, December 2nd. SLB’s dividend payout ratio (DPR) is 57.28%.

Insider Buying and Selling

In other SLB news, insider Dianne B. Ralston sold 20,986 shares of the business’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $53.57, for a total transaction of $1,124,220.02. Following the completion of the transaction, the insider owned 205,053 shares in the company, valued at approximately $10,984,689.21. The trade was a 9.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Howard Guild sold 10,047 shares of SLB stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $53.65, for a total value of $539,021.55. Following the completion of the transaction, the chief accounting officer owned 12,845 shares in the company, valued at $689,134.25. The trade was a 43.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company 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 business. Abel Hall LLC grew its position in SLB by 2.7% in the first quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock valued at $387,000 after acquiring an additional 198 shares during the period. E Fund Management Co. Ltd. boosted its position 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. Signature Equity Partners LLC lifted its position in SLB by 42.5% during the 3rd quarter. Signature Equity Partners LLC now owns 751 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 224 shares during the period. TOWER TRUST & INVESTMENT Co raised its stake in shares of SLB by 1.2% during the third quarter. TOWER TRUST & INVESTMENT Co now owns 18,696 shares of the oil and gas company’s stock worth $911,000 after buying an additional 230 shares during the last quarter. Finally, Cypress Capital Group raised its position in shares of SLB by 1.9% during the 1st quarter. Cypress Capital Group now owns 12,308 shares of the oil and gas company’s stock valued at $633,000 after acquiring an additional 234 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

SLB Company Profile

SLB (NYSE: SLB), formerly known as Schlumberger, is a global technology company serving the energy industry. Founded in 1926, the company adopted the SLB name in 2022 and provides technologies and services across the energy value chain.

Its offerings include subsurface evaluation, drilling and well-construction services, production systems, and digital tools that help customers plan and manage energy projects. SLB also develops solutions for areas such as carbon capture and storage, geothermal energy, and lithium production.

Headquartered in Houston, Texas, SLB serves customers in energy-producing regions around the world.