SLB Limited (NYSE:SLB) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of SLB Limited (NYSE:SLB) have been assigned an average rating of “Moderate Buy” from the twenty-one analysts that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $51.2778.

Several research analysts recently issued reports on the company. Barclays increased their price objective on SLB from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Susquehanna decreased their price target on shares of SLB from $44.00 to $42.00 and set a “positive” rating on the stock in a research note on Monday, July 21st. Piper Sandler set a $42.00 price objective on shares of SLB and gave the company an “overweight” rating in a research report on Monday, October 20th. Rothschild & Co Redburn started coverage on shares of SLB in a research note on Monday, November 3rd. They set a “buy” rating and a $48.00 price objective on the stock. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th.

Insiders Place Their Bets

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the transaction, the insider directly owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total value of $2,261,400.00. Following the transaction, the executive vice president owned 159,371 shares in the company, valued at approximately $6,006,692.99. This represents a 27.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 138,174 shares of company stock worth $5,107,677 over the last three months. 0.22% of the stock is owned by insiders.

Institutional Investors Weigh In On SLB

Hedge funds have recently bought and sold shares of the business. Howard Capital Management Inc. grew its holdings in shares of SLB by 3.2% during the third quarter. Howard Capital Management Inc. now owns 9,165 shares of the oil and gas company’s stock valued at $315,000 after purchasing an additional 288 shares during the last quarter. Fielder Capital Group LLC grew its stake in SLB by 2.5% during the 3rd quarter. Fielder Capital Group LLC now owns 12,137 shares of the oil and gas company’s stock worth $417,000 after buying an additional 293 shares during the last quarter. Hedges Asset Management LLC increased its position in SLB by 0.9% in the third quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock worth $1,203,000 after buying an additional 300 shares during the period. Gables Capital Management Inc. increased its position in SLB by 31.6% in the third quarter. Gables Capital Management Inc. now owns 1,250 shares of the oil and gas company’s stock worth $43,000 after buying an additional 300 shares during the period. Finally, Legacy Wealth Asset Management LLC lifted its stake in SLB by 2.2% in 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. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Stock Performance

NYSE SLB opened at $36.95 on Friday. SLB has a 1 year low of $31.11 and a 1 year high of $44.97. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. The company has a market capitalization of $55.20 billion, a PE ratio of 14.27, a P/E/G ratio of 10.19 and a beta of 0.97. The company has a fifty day moving average of $35.03 and a two-hundred day moving average of $34.76.

SLB (NYSE:SLB) last issued its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.99 billion. During the same quarter in the previous year, the firm posted $0.89 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, analysts expect that SLB will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a yield of 3.1%. SLB’s dividend payout ratio is 44.02%.

SLB Company Profile

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.