JPMorgan Chase & Co. Issues Positive Forecast for SLB (NYSE:SLB) Stock Price

SLB (NYSE:SLB) had its target price boosted by analysts at JPMorgan Chase & Co. from $43.00 to $54.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 9.52% from the company’s current price.

Other equities analysts have also issued research reports about the company. Rothschild & Co Redburn began coverage on SLB in a research report on Monday, November 3rd. They set a “buy” rating and a $48.00 price objective for the company. Piper Sandler boosted their price objective on shares of SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Sanford C. Bernstein boosted their price target on SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Finally, Redburn Partners set a $48.00 target price on SLB in a report on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.70.

SLB Trading Up 0.3%

Shares of NYSE SLB traded up $0.16 during trading hours on Monday, hitting $49.31. The company’s stock had a trading volume of 6,101,737 shares, compared to its average volume of 23,211,436. SLB has a 12 month low of $31.11 and a 12 month high of $51.67. The stock has a market cap of $73.66 billion, a price-to-earnings ratio of 20.92 and a beta of 0.72. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33. The business has a 50-day simple moving average of $40.14 and a 200-day simple moving average of $36.71.

SLB (NYSE:SLB) last released its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The business had revenue of $9.75 billion during 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%.SLB’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 EPS. On average, analysts anticipate that SLB will post 3.38 earnings per share for the current fiscal year.

Insider Buying and Selling at SLB

In other news, Director Peter John Coleman sold 5,500 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total value of $197,010.00. Following the transaction, the director owned 18,671 shares in the company, valued at $668,795.22. This represents a 22.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the sale, the executive vice president owned 159,371 shares of the company’s stock, valued at $6,006,692.99. This trade represents a 27.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 103,947 shares of company stock valued at $3,871,337. 0.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SLB. Twin Peaks Wealth Advisors LLC bought a new position in SLB in the 2nd quarter worth $25,000. Root Financial Partners LLC purchased a new stake in SLB in the third quarter worth about $29,000. Corsicana & Co. bought a new position in shares of SLB in the third quarter worth about $31,000. Strengthening Families & Communities LLC purchased a new position in shares of SLB during the 3rd quarter valued at about $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of SLB during the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.