SLB (NYSE:SLB) Stock Rating Upgraded by Piper Sandler

SLB (NYSE:SLB) was upgraded by equities research analysts at Piper Sandler from a “hold” rating to an “overweight” rating in a report released on Monday, MarketBeat.com reports.

Other equities research analysts have also issued reports about the company. Weiss Ratings reissued a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. UBS Group dropped their price target on SLB from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, August 20th. Barclays upped their price target on SLB from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. dropped their price target on SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Melius started coverage on SLB in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.69.

SLB Stock Performance

Shares of SLB opened at $33.51 on Monday. The business’s 50 day moving average is $34.52 and its two-hundred day moving average is $34.48. SLB has a 52-week low of $31.11 and a 52-week high of $44.97. The firm has a market cap of $50.05 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 9.35 and a beta of 0.97. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40.

SLB (NYSE:SLB) last announced its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $8.99 billion. During the same period in the prior year, the company posted $0.89 EPS. SLB’s quarterly revenue was down 2.5% on a year-over-year basis. Analysts forecast that SLB will post 3.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction on Friday, September 12th. The stock was 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 directly owned 202,201 shares in the company, valued at $7,295,412.08. This represents a 16.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.22% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. First Command Advisory Services Inc. grew its stake in shares of SLB by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 477 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of SLB in the second quarter worth $25,000. Atlas Capital Advisors Inc. bought a new position in shares of SLB in the first quarter worth $33,000. Alpine Bank Wealth Management bought a new position in shares of SLB in the first quarter worth $34,000. Finally, Atticus Wealth Management LLC bought a new position in shares of SLB in the second quarter worth $29,000. 81.99% of the stock is currently owned by institutional investors.

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.