SLB Limited (NYSE:SLB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of SLB Limited (NYSE:SLB) have earned an average rating of “Moderate Buy” from the twenty-three analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $59.7368.

SLB has been the subject of a number of analyst reports. Susquehanna lifted their price target on SLB from $60.00 to $65.00 and gave the company a “positive” rating in a research note on Monday, April 27th. UBS Group lifted their price target on SLB from $61.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Sanford C. Bernstein lifted their price target on SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. BMO Capital Markets lifted their price target on SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Finally, The Goldman Sachs Group lifted their price target on SLB from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th.

SLB Stock Performance

Shares of SLB opened at $56.57 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The stock has a 50-day moving average of $53.66 and a 200-day moving average of $47.32. The company has a market cap of $84.58 billion, a PE ratio of 24.70, a P/E/G ratio of 2.22 and a beta of 0.70. SLB has a one year low of $31.64 and a one year high of $58.82.

SLB (NYSE:SLB) last issued its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The company had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.72 EPS. On average, equities research analysts predict that SLB will post 2.62 EPS for the current fiscal year.

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be paid a dividend of $0.295 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.1%. SLB’s payout ratio is 51.53%.

Insider Activity at SLB

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction that occurred on Friday, May 1st. The shares were 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 of the company’s stock, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following 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 SEC filing for this sale provides additional information. 0.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On SLB

Several hedge funds have recently modified their holdings of the company. Abel Hall LLC lifted its position in shares of SLB by 2.7% during the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock worth $387,000 after buying an additional 198 shares in the last quarter. Private Wealth Asset Management LLC lifted its position in shares of SLB by 4.1% during the 4th quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock worth $193,000 after buying an additional 200 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of SLB by 9.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock worth $129,000 after buying an additional 214 shares in the last quarter. Ballentine Partners LLC lifted its position in shares of SLB by 2.2% during the 4th quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock worth $395,000 after buying an additional 218 shares in the last quarter. Finally, Davis Capital Management lifted its position in shares of SLB by 1.0% during the 1st quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company’s stock worth $1,129,000 after buying an additional 220 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

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.