Susquehanna Issues Positive Forecast for SLB (NYSE:SLB) Stock Price

SLB (NYSE:SLB) had its price objective increased by Susquehanna from $56.00 to $60.00 in a report published on Tuesday morning,Benzinga reports. They currently have a positive rating on the oil and gas company’s stock.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus set a $56.00 price objective on SLB in a research report on Monday, January 26th. Wall Street Zen lowered SLB from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Evercore set a $54.00 price objective on SLB and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Royal Bank Of Canada lifted their price objective on SLB from $51.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Finally, Freedom Capital lowered SLB from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, SLB has a consensus rating of “Moderate Buy” and a consensus target price of $53.27.

SLB Price Performance

Shares of SLB stock opened at $50.23 on Tuesday. The firm has a market cap of $75.48 billion, a P/E ratio of 21.20, a P/E/G ratio of 3.52 and a beta of 0.69. SLB has a fifty-two week low of $31.11 and a fifty-two week high of $54.80. The business’s 50 day moving average price is $49.50 and its 200-day moving average price is $42.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33.

SLB (NYSE:SLB) last issued its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.54 billion. SLB had a return on equity of 17.45% and a net margin of 9.45%.The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $0.92 EPS. On average, equities research analysts anticipate that SLB will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th were given a dividend of $0.295 per share. This is a boost from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Wednesday, February 11th. SLB’s dividend payout ratio is presently 49.79%.

Insider Activity at SLB

In related news, CFO Stephane Biguet sold 61,017 shares of SLB stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $3,032,544.90. Following the sale, the chief financial officer directly owned 155,548 shares in the company, valued at $7,730,735.60. The trade was a 28.17% 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, 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 sale, the chief accounting officer owned 22,407 shares in the company, valued at $1,113,627.90. This represents a 37.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 156,902 shares of company stock valued at $7,796,666 over the last ninety days. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. raised its stake in SLB by 180.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,393,578 shares of the oil and gas company’s stock valued at $53,486,000 after buying an additional 895,987 shares during the last quarter. World Investment Advisors raised its stake in SLB by 97.8% during the fourth quarter. World Investment Advisors now owns 14,991 shares of the oil and gas company’s stock valued at $575,000 after buying an additional 7,412 shares during the last quarter. Larry Mathis Financial Planning LLC purchased a new position in SLB during the fourth quarter valued at $254,000. Mengis Capital Management Inc. raised its stake in SLB by 7.9% during the fourth quarter. Mengis Capital Management Inc. now owns 90,211 shares of the oil and gas company’s stock valued at $3,462,000 after buying an additional 6,596 shares during the last quarter. Finally, Pure Financial Advisors LLC purchased a new position in SLB during the fourth quarter valued at $205,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.