SLB (NYSE:SLB) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

SLB (NYSE:SLB) had its price objective upped by equities researchers at Stifel Nicolaus from $48.00 to $52.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 5.99% from the company’s previous close.

Several other research firms have also recently issued reports on SLB. Royal Bank Of Canada reissued an “outperform” rating and set a $51.00 price target on shares of SLB in a report on Thursday, January 15th. TD Cowen boosted their target price on SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of SLB in a research note on Wednesday, October 8th. The Goldman Sachs Group restated a “buy” rating and issued a $49.00 price target on shares of SLB in a research note on Wednesday, January 14th. Finally, Piper Sandler upped their price objective on SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $49.84.

SLB Stock Performance

Shares of SLB opened at $49.06 on Wednesday. The stock has a market capitalization of $73.29 billion, a P/E ratio of 18.94 and a beta of 0.72. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. SLB has a 1 year low of $31.11 and a 1 year high of $49.58. The company’s fifty day moving average is $39.90 and its two-hundred day moving average is $36.61.

Insider Activity

In other SLB news, CFO Stephane Biguet sold 38,447 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $36.75, for a total transaction of $1,412,927.25. Following the transaction, the chief financial officer owned 175,690 shares of the company’s stock, valued at $6,456,607.50. This represents a 17.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Peter John Coleman sold 5,500 shares of SLB stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total value of $197,010.00. Following the completion of the sale, the director directly owned 18,671 shares of the company’s stock, valued at approximately $668,795.22. This represents a 22.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 103,947 shares of company stock valued at $3,871,337 over the last 90 days. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On SLB

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of SLB by 23.3% during the 3rd quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock valued at $6,371,335,000 after acquiring an additional 35,057,313 shares during the last quarter. Norges Bank purchased a new stake in SLB in the second quarter valued at approximately $618,697,000. State Street Corp increased its position in SLB by 7.0% during the third quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock worth $2,898,037,000 after purchasing an additional 5,466,786 shares during the last quarter. Franklin Resources Inc. raised its stake in SLB by 30.4% during the second quarter. Franklin Resources Inc. now owns 20,233,749 shares of the oil and gas company’s stock worth $683,901,000 after purchasing an additional 4,719,852 shares during the period. Finally, Greenhaven Associates Inc. purchased a new position in SLB during the fourth quarter worth approximately $178,883,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

About SLB

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.