SLB (NYSE:SLB) Price Target Cut to $43.00 by Analysts at JPMorgan Chase & Co.

SLB (NYSE:SLB) had its price target reduced by JPMorgan Chase & Co. from $44.00 to $43.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus decreased their target price on shares of SLB from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Jefferies Financial Group decreased their price objective on shares of SLB from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Piper Sandler set a $42.00 target price on shares of SLB and gave the company an “overweight” rating in a report on Monday. Susquehanna cut their target price on SLB from $44.00 to $42.00 and set a “positive” rating on the stock in a research report on Monday, July 21st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, SLB presently has an average rating of “Moderate Buy” and an average target price of $52.00.

SLB Stock Up 2.4%

SLB stock opened at $33.43 on Monday. SLB has a one year low of $31.11 and a one year high of $44.97. The firm has a market cap of $49.92 billion, a PE ratio of 12.91, a PEG ratio of 9.13 and a beta of 0.97. The firm’s 50 day moving average price is $34.51 and its 200-day moving average price is $34.49. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39.

SLB (NYSE:SLB) last posted its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The company had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.99 billion. During the same quarter last year, the firm earned $0.89 earnings per share. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that SLB will post 3.38 EPS for the current year.

SLB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a yield of 3.4%. SLB’s dividend payout ratio (DPR) is 44.02%.

Insider Transactions at SLB

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares in the company, valued at $7,295,412.08. The trade was a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.22% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SLB

Large investors have recently bought and sold shares of the business. Hedges Asset Management LLC raised its position in SLB by 0.9% in the 3rd quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock worth $1,203,000 after purchasing an additional 300 shares during the period. Legacy Wealth Asset Management LLC grew its stake in shares of SLB by 2.2% during the second quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock valued at $486,000 after buying an additional 308 shares during the last quarter. EntryPoint Capital LLC increased its holdings in shares of SLB by 4.5% in the first quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock worth $307,000 after buying an additional 316 shares during the period. Horizon Investments LLC lifted its stake in shares of SLB by 1.5% in the 1st quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock valued at $946,000 after acquiring an additional 330 shares during the last quarter. Finally, CreativeOne Wealth LLC boosted its holdings in SLB by 6.3% during the 1st quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock valued at $236,000 after acquiring an additional 335 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

About SLB

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.