SLB (NYSE:SLB) Raised to Strong-Buy at Argus

SLB (NYSE:SLB) was upgraded by analysts at Argus to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other analysts also recently issued reports on SLB. Evercore ISI set a $54.00 price objective on SLB and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Sanford C. Bernstein upped their target price on shares of SLB from $47.60 to $52.30 and gave the company an “outperform” rating in a research report on Thursday, December 11th. Morgan Stanley restated an “overweight” rating and set a $50.00 price objective on shares of SLB in a research report on Wednesday, January 21st. JPMorgan Chase & Co. lifted their target price on SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Redburn Partners set a $48.00 target price on SLB in a research report on Monday, November 3rd. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $51.92.

SLB Stock Up 2.0%

NYSE SLB opened at $50.70 on Monday. SLB has a 12 month low of $31.11 and a 12 month high of $51.67. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. The stock has a market cap of $75.81 billion, a PE ratio of 21.39 and a beta of 0.72. The stock’s 50 day moving average is $40.71 and its 200 day moving average is $36.89.

SLB (NYSE:SLB) last released its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04. SLB had a net margin of 9.45% and a return on equity of 17.45%. The firm had revenue of $9.75 billion for the quarter, compared to analysts’ expectations of $9.54 billion. During the same quarter last year, the business posted $0.92 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. Research analysts predict that SLB will post 3.38 EPS for the current fiscal year.

Insider Buying and Selling at SLB

In other news, CAO Howard Guild sold 13,268 shares of SLB stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $659,419.60. Following the transaction, the chief accounting officer owned 22,407 shares of the company’s stock, valued at $1,113,627.90. The trade was a 37.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the completion of the transaction, the executive vice president directly owned 140,602 shares in the company, valued at $6,987,919.40. This represents a 29.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 260,849 shares of company stock worth $11,668,003. 0.22% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SLB

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Twin Peaks Wealth Advisors LLC purchased a new position in shares of SLB during the 2nd quarter valued at approximately $25,000. Steph & Co. raised its position in SLB by 97.5% during the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 394 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in SLB during the fourth quarter worth $31,000. Root Financial Partners LLC purchased a new position in SLB during the third quarter valued at $29,000. Finally, Corsicana & Co. purchased a new position in SLB during the third quarter valued at $31,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: Multiple brokerages raised ratings/targets and issued bullish notes (BofA raised to $55, BMO to $55, Susquehanna to $58, RBC to $54, JPMorgan to $54; Argus upgraded to “strong-buy”), supporting upside expectations and buy-side demand. Analyst Upgrades Summary
• Neutral Sentiment: Analysts and commentators are re-examining SLB’s role in evolving energy markets and international revenue trends — pieces that provide context on valuation and growth drivers but are not immediate catalysts. Is SLB Pricing Reflect Its Role In Evolving Energy Markets? Interpreting SLB International Revenue Trends
• Negative Sentiment: SLB’s joint venture with Aker Carbon Capture reported a loss on a carbon-capture project, raising near-term execution/asset-quality questions for the CC business. That news could temper enthusiasm for SLB’s energy-transition growth narrative. SLB and Aker CC venture hit by loss on carbon capture project
• Negative Sentiment: Several senior insiders sold material stakes on Jan. 26 (CFO Stéphane Biguet, EVP Abdellah Merad, CAO Howard Guild, director La Chevardière Patrick De, and insider Dianne Ralston). Large insider disposals can be perceived negatively by the market even if they’re routine or for diversification. SEC filings: CFO Read More.; CAO Read More.; EVP Read More.; director Read More.; insider Ralston Read More.

About SLB

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.