JPMorgan Chase & Co. Forecasts Strong Price Appreciation for SLB (NYSE:SLB) Stock

SLB (NYSE:SLB) had its price target hoisted by analysts at JPMorgan Chase & Co. from $43.00 to $54.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 6.51% from the stock’s previous close.

Other analysts have also issued research reports about the company. Rothschild Redb upgraded SLB to a “strong-buy” rating in a report on Monday, November 3rd. Redburn Partners set a $48.00 price objective on SLB in a research report on Monday, November 3rd. Bank of America upped their target price on SLB from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday. Piper Sandler upped their price objective on shares of SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Finally, Stifel Nicolaus boosted their price target on shares of SLB from $48.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $51.92.

SLB Stock Performance

Shares of NYSE SLB opened at $50.70 on Monday. The stock’s fifty day simple moving average is $40.71 and its 200 day simple moving average is $36.89. The stock has a market capitalization of $75.81 billion, a price-to-earnings ratio of 21.39 and a beta of 0.72. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. SLB has a 52-week low of $31.11 and a 52-week high of $51.67.

SLB (NYSE:SLB) last issued its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The firm had revenue of $9.75 billion for the quarter, compared to analysts’ expectations of $9.54 billion. During the same quarter last year, the business posted $0.92 EPS. SLB’s revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts forecast that SLB will post 3.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Howard Guild sold 13,268 shares of the firm’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $659,419.60. Following the sale, the chief accounting officer directly owned 22,407 shares in the company, valued at $1,113,627.90. This trade represents a 37.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Stephane Biguet sold 61,017 shares of SLB stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $3,032,544.90. Following the completion of the sale, the chief financial officer directly owned 155,548 shares in the company, valued at approximately $7,730,735.60. This represents a 28.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 260,849 shares of company stock valued at $11,668,003. 0.22% of the stock is owned by corporate insiders.

Institutional Trading of SLB

A number of hedge funds and other institutional investors have recently modified their holdings of SLB. Foster Victor Wealth Advisors LLC increased its position in SLB by 3.0% during the 4th quarter. Foster Victor Wealth Advisors LLC now owns 8,281 shares of the oil and gas company’s stock valued at $318,000 after purchasing an additional 238 shares during the period. apricus wealth LLC grew its position in SLB by 0.3% during the fourth quarter. apricus wealth LLC now owns 84,740 shares of the oil and gas company’s stock worth $3,252,000 after buying an additional 270 shares in the last quarter. Private Trust Co. NA raised its stake in shares of SLB by 9.2% during the fourth quarter. Private Trust Co. NA now owns 3,277 shares of the oil and gas company’s stock worth $126,000 after acquiring an additional 277 shares in the last quarter. Howard Capital Management Inc. boosted its holdings in shares of SLB by 3.2% during the third quarter. Howard Capital Management Inc. now owns 9,165 shares of the oil and gas company’s stock worth $315,000 after purchasing an additional 288 shares during the period. Finally, Daymark Wealth Partners LLC lifted its stake in shares of SLB by 3.2% in the 4th quarter. Daymark Wealth Partners LLC now owns 9,380 shares of the oil and gas company’s stock valued at $360,000 after purchasing an additional 290 shares during the period. Institutional investors own 81.99% of the company’s stock.

Key Headlines Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: Multiple brokerages raised ratings/targets and issued bullish notes (BofA raised to $55, BMO to $55, Susquehanna to $58, RBC to $54, JPMorgan to $54; Argus upgraded to “strong-buy”), supporting upside expectations and buy-side demand. Analyst Upgrades Summary
• Neutral Sentiment: Analysts and commentators are re-examining SLB’s role in evolving energy markets and international revenue trends — pieces that provide context on valuation and growth drivers but are not immediate catalysts. Is SLB Pricing Reflect Its Role In Evolving Energy Markets? Interpreting SLB International Revenue Trends
• Negative Sentiment: SLB’s joint venture with Aker Carbon Capture reported a loss on a carbon-capture project, raising near-term execution/asset-quality questions for the CC business. That news could temper enthusiasm for SLB’s energy-transition growth narrative. SLB and Aker CC venture hit by loss on carbon capture project
• Negative Sentiment: Several senior insiders sold material stakes on Jan. 26 (CFO Stéphane Biguet, EVP Abdellah Merad, CAO Howard Guild, director La Chevardière Patrick De, and insider Dianne Ralston). Large insider disposals can be perceived negatively by the market even if they’re routine or for diversification. SEC filings: CFO Read More.; CAO Read More.; EVP Read More.; director Read More.; insider Ralston Read More.

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.