SLB (NYSE:SLB) Price Target Raised to $52.00 at Stifel Nicolaus

SLB (NYSE:SLB) had its price objective lifted by Stifel Nicolaus from $48.00 to $52.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the oil and gas company’s stock.

Several other research firms also recently weighed in on SLB. Redburn Partners set a $48.00 target price on SLB in a research report on Monday, November 3rd. Citigroup raised their price target on SLB from $47.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. TD Cowen lifted their price objective on SLB from $56.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Sanford C. Bernstein increased their target price on shares of SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a report on Thursday, December 11th. Finally, Susquehanna raised their target price on shares of SLB from $42.00 to $52.00 and gave the company a “positive” rating in a research report on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, SLB presently has an average rating of “Moderate Buy” and an average price target of $49.84.

SLB Price Performance

SLB stock opened at $48.46 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $72.40 billion, a PE ratio of 18.71 and a beta of 0.72. SLB has a 12-month low of $31.11 and a 12-month high of $48.61. The firm has a 50-day moving average price of $39.64 and a 200-day moving average price of $36.52.

Insider Activity at SLB

In other news, Director Peter John Coleman sold 5,500 shares of the stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $35.82, for a total value of $197,010.00. Following the transaction, the director directly owned 18,671 shares of the company’s stock, valued at approximately $668,795.22. This represents a 22.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephane Biguet sold 38,447 shares of SLB stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $36.75, for a total value of $1,412,927.25. Following the sale, the chief financial officer directly owned 175,690 shares of the company’s stock, valued at $6,456,607.50. This trade represents a 17.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 103,947 shares of company stock valued at $3,871,337 in the last ninety days. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On SLB

A number of institutional investors have recently bought and sold shares of the business. Townsend Asset Management Corp NC ADV boosted its holdings in shares of SLB by 3.5% in the 4th quarter. Townsend Asset Management Corp NC ADV now owns 111,193 shares of the oil and gas company’s stock valued at $4,268,000 after acquiring an additional 3,748 shares during the last quarter. Oak Thistle LLC lifted its position in SLB by 0.6% during the fourth quarter. Oak Thistle LLC now owns 61,290 shares of the oil and gas company’s stock valued at $2,352,000 after purchasing an additional 356 shares during the period. Greenleaf Trust lifted its position in SLB by 10.9% during the fourth quarter. Greenleaf Trust now owns 27,697 shares of the oil and gas company’s stock valued at $1,063,000 after purchasing an additional 2,718 shares during the period. MBL Wealth LLC purchased a new stake in SLB in the fourth quarter valued at $294,000. Finally, Aaron Wealth Advisors LLC grew its position in SLB by 109.5% during the 4th quarter. Aaron Wealth Advisors LLC now owns 19,074 shares of the oil and gas company’s stock worth $732,000 after purchasing an additional 9,970 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

SLB Company Profile

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.