Brokerages Set SLB Limited (NYSE:SLB) Target Price at $51.28

by · The Markets Daily

Shares of SLB Limited (NYSE:SLB – Get Free Report) have received an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $52.3150.

Several analysts have recently weighed in on SLB shares. Melius Research assumed coverage on shares of SLB in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SLB in a research note on Wednesday, October 8th. Sanford C. Bernstein upped their price objective on shares of SLB from $47.60 to $52.30 and gave the company an “outperform” rating in a report on Thursday. TD Cowen raised their target price on SLB from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Barclays boosted their target price on SLB from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st.

Get Our Latest Report on SLB

SLB Trading Down 2.2%

SLB opened at $39.44 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. SLB has a fifty-two week low of $31.11 and a fifty-two week high of $44.66. The company’s 50 day moving average price is $35.87 and its two-hundred day moving average price is $35.12. The firm has a market capitalization of $58.92 billion, a price-to-earnings ratio of 15.23 and a beta of 0.73.

SLB (NYSE:SLB – Get Free Report) last posted its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. SLB had a return on equity of 18.97% and a net margin of 10.34%.The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 earnings per share. As a group, research analysts predict that SLB will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a dividend yield of 2.9%. SLB’s payout ratio is currently 44.02%.

Insider Transactions at SLB

In other SLB news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the transaction, the executive vice president owned 159,371 shares in the company, valued at approximately $6,006,692.99. This represents a 27.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Stephane Biguet sold 38,447 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $36.75, for a total transaction of $1,412,927.25. Following the completion of the transaction, the chief financial officer directly owned 175,690 shares in the company, valued at $6,456,607.50. This trade represents a 17.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 103,947 shares of company stock valued at $3,871,337 over the last ninety days. 0.22% of the stock is owned by company insiders.

Institutional Investors Weigh In On SLB

A number of institutional investors and hedge funds have recently made changes to their positions in SLB. Twin Peaks Wealth Advisors LLC bought a new stake in SLB during the 2nd quarter worth approximately $25,000. Atlas Capital Advisors Inc. purchased a new position in shares of SLB during the first quarter valued at approximately $33,000. Root Financial Partners LLC bought a new stake in SLB during the third quarter worth $29,000. Atticus Wealth Management LLC purchased a new stake in SLB in the 2nd quarter valued at $29,000. Finally, Corsicana & Co. bought a new position in SLB during the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

About SLB

(Get Free Report)

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.

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