Royal Bank Of Canada Forecasts Strong Price Appreciation for SLB (NYSE:SLB) Stock

SLB (NYSE:SLB) had its price target raised by investment analysts at Royal Bank Of Canada from $51.00 to $54.00 in a report released on Monday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the oil and gas company’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 6.51% from the stock’s previous close.

Several other research firms have also issued reports on SLB. JPMorgan Chase & Co. dropped their price target on shares of SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. UBS Group increased their price objective on SLB from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Morgan Stanley restated an “overweight” rating and issued a $50.00 target price on shares of SLB in a research note on Wednesday, January 21st. Rothschild & Co Redburn started coverage on shares of SLB in a research note on Monday, November 3rd. They issued a “buy” rating and a $48.00 target price for the company. Finally, Evercore ISI set a $54.00 target price on SLB and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $51.92.

SLB Trading Up 2.0%

SLB stock opened at $50.70 on Monday. SLB has a 12 month low of $31.11 and a 12 month high of $51.67. The stock has a market cap of $75.81 billion, a price-to-earnings ratio of 21.39 and a beta of 0.72. The business has a 50 day moving average price of $40.71 and a two-hundred day moving average price of $36.89. 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 (NYSE:SLB) last posted 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 net margin of 9.45% and a return on equity of 17.45%. The firm had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.54 billion. During the same quarter in the previous year, the company earned $0.92 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. As a group, equities analysts forecast that SLB will post 3.38 EPS for the current year.

Insider Transactions at SLB

In other news, CAO Howard Guild sold 13,268 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $659,419.60. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephane Biguet sold 61,017 shares of SLB stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $3,032,544.90. Following the sale, the chief financial officer directly owned 155,548 shares of the company’s stock, valued at approximately $7,730,735.60. This trade represents a 28.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 260,849 shares of company stock valued at $11,668,003. 0.22% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SLB

Several large investors have recently bought and sold shares of SLB. Brighton Jones LLC raised its stake in SLB by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after buying an additional 1,166 shares during the period. Bison Wealth LLC acquired a new stake in SLB during the 4th quarter worth approximately $238,000. Patton Fund Management Inc. bought a new stake in shares of SLB during the second quarter worth $216,000. Avior Wealth Management LLC lifted its position in SLB by 70.4% in the 2nd quarter. Avior Wealth Management LLC now owns 8,905 shares of the oil and gas company’s stock valued at $301,000 after acquiring an additional 3,678 shares in the last quarter. Finally, Washington Capital Management Inc. boosted its stake in SLB by 22.4% in the 2nd quarter. Washington Capital Management Inc. now owns 37,185 shares of the oil and gas company’s stock worth $1,257,000 after purchasing an additional 6,800 shares during the period. Institutional investors own 81.99% of the company’s stock.

Key SLB News

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.

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.