Bank of America Forecasts Strong Price Appreciation for SLB (NYSE:SLB) Stock

SLB (NYSE:SLB) had its price target hoisted by Bank of America from $50.00 to $55.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Bank of America‘s target price indicates a potential upside of 8.48% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. Piper Sandler raised their price objective on shares of SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Sanford C. Bernstein raised their price target on SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $51.00 price objective on shares of SLB in a research note on Thursday, January 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of SLB in a research note on Wednesday, October 8th. Finally, Citigroup upped their target price on shares of SLB from $53.00 to $56.00 and gave the company a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $51.92.

SLB Stock Up 2.0%

SLB stock opened at $50.70 on Monday. The stock’s 50 day moving average price is $40.71 and its 200 day moving average price is $36.89. SLB has a 1-year low of $31.11 and a 1-year high of $51.67. The company has a market cap of $75.81 billion, a PE ratio of 21.39 and a beta of 0.72. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98.

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

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the completion of the transaction, the executive vice president directly owned 140,602 shares in the company, valued at approximately $6,987,919.40. This represents a 29.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Dianne B. Ralston sold 18,617 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.50, for a total transaction of $921,541.50. Following the transaction, the insider directly owned 224,097 shares of the company’s stock, valued at approximately $11,092,801.50. This represents a 7.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 260,849 shares of company stock valued at $11,668,003. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On SLB

Institutional investors and hedge funds have recently bought and sold shares of the business. Emerald Advisors LLC raised its holdings in SLB by 11.9% during the fourth quarter. Emerald Advisors LLC now owns 13,836 shares of the oil and gas company’s stock worth $531,000 after purchasing an additional 1,468 shares in the last quarter. Meritage Portfolio Management boosted its stake in SLB by 45.6% during the 4th quarter. Meritage Portfolio Management now owns 107,157 shares of the oil and gas company’s stock valued at $4,113,000 after purchasing an additional 33,549 shares in the last quarter. Arcataur Capital Management LLC acquired a new position in shares of SLB during the 4th quarter valued at $211,000. Godsey & Gibb Inc. raised its stake in shares of SLB by 2.0% in the 4th quarter. Godsey & Gibb Inc. now owns 538,313 shares of the oil and gas company’s stock worth $20,660,000 after buying an additional 10,656 shares in the last quarter. Finally, Vision Capital Management Inc. lifted its holdings in shares of SLB by 6.5% in the fourth quarter. Vision Capital Management Inc. now owns 122,408 shares of the oil and gas company’s stock valued at $4,698,000 after buying an additional 7,438 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB News Roundup

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.