SLB (NYSE:SLB) Coverage Initiated at Rothschild & Co Redburn

Equities research analysts at Rothschild & Co Redburn began coverage on shares of SLB (NYSE:SLB) in a research report issued on Monday, Marketbeat reports. The firm set a “buy” rating and a $48.00 price target on the oil and gas company’s stock. Rothschild & Co Redburn’s target price suggests a potential upside of 32.90% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Barclays upped their price objective on shares of SLB from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Melius Research started coverage on shares of SLB in a report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective on the stock. Piper Sandler set a $42.00 price objective on shares of SLB and gave the company an “overweight” rating in a report on Monday, October 20th. Susquehanna dropped their price objective on shares of SLB from $44.00 to $42.00 and set a “positive” rating on the stock in a report on Monday, July 21st. Finally, Stifel Nicolaus dropped their price objective on shares of SLB from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.28.

SLB Price Performance

Shares of NYSE:SLB opened at $36.12 on Monday. The company’s 50-day moving average is $34.94 and its 200 day moving average is $34.64. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. The company has a market capitalization of $53.96 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 10.19 and a beta of 0.97. SLB has a fifty-two week low of $31.11 and a fifty-two week high of $44.97.

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

Insider Buying and Selling at SLB

In other news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction dated 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 sale, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.22% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SLB. Brighton Jones LLC increased its position in shares of SLB by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after purchasing an additional 1,166 shares during the last quarter. Bison Wealth LLC bought a new position in shares of SLB in the fourth quarter worth approximately $238,000. Mutual Advisors LLC increased its position in shares of SLB by 97.2% in the first quarter. Mutual Advisors LLC now owns 10,359 shares of the oil and gas company’s stock worth $433,000 after purchasing an additional 5,107 shares during the last quarter. Silver Oak Securities Incorporated bought a new position in shares of SLB in the first quarter worth approximately $309,000. Finally, OneDigital Investment Advisors LLC increased its position in shares of SLB by 26.7% in the first quarter. OneDigital Investment Advisors LLC now owns 13,261 shares of the oil and gas company’s stock worth $554,000 after purchasing an additional 2,794 shares during the last quarter. 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.