SLB Limited (NYSE:SLB) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of SLB Limited (NYSE:SLB) have been given an average recommendation of “Moderate Buy” by the twenty-three research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $60.30.

SLB has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Susquehanna lowered their target price on shares of SLB from $65.00 to $55.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Royal Bank Of Canada restated an “outperform” rating and set a $61.00 target price on shares of SLB in a report on Tuesday, June 16th. Barclays reduced their price target on SLB from $66.00 to $64.00 and set an “overweight” rating for the company in a research report on Thursday, July 16th. Finally, BMO Capital Markets upped their price target on SLB from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th.

SLB Price Performance

Shares of SLB opened at $47.72 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. The firm has a market cap of $71.34 billion, a PE ratio of 20.84, a PEG ratio of 1.88 and a beta of 0.72. The firm’s 50 day moving average price is $51.39 and its 200 day moving average price is $50.49. SLB has a twelve month low of $31.64 and a twelve month high of $58.82.

SLB (NYSE:SLB) last posted its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The company had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, research analysts expect that SLB will post 2.52 EPS for the current fiscal year.

Insider Activity at SLB

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the transaction, the executive vice president owned 47,421 shares in the company, valued at $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total transaction of $108,660.00. Following the completion of the transaction, the director directly owned 16,953 shares in the company, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by insiders.

Institutional Trading of SLB

Several large investors have recently modified their holdings of the company. Merit Financial Group LLC grew its stake in SLB by 6.4% in the 2nd quarter. Merit Financial Group LLC now owns 57,583 shares of the oil and gas company’s stock valued at $2,677,000 after buying an additional 3,473 shares during the last quarter. Farther Finance Advisors LLC lifted its position in SLB by 8.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 34,315 shares of the oil and gas company’s stock worth $1,595,000 after acquiring an additional 2,728 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in SLB by 10.2% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 50,099 shares of the oil and gas company’s stock worth $2,329,000 after acquiring an additional 4,636 shares during the last quarter. Maryland Capital Advisors Inc. bought a new stake in SLB during the second quarter valued at about $35,000. Finally, HM Payson & Co. boosted its holdings in SLB by 6.0% during the second quarter. HM Payson & Co. now owns 17,714 shares of the oil and gas company’s stock valued at $824,000 after acquiring an additional 1,000 shares during the period. 81.99% of the stock is owned by 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.