SLB (NYSE:SLB) Rating Increased to Outperform at Evercore ISI

Evercore ISI upgraded shares of SLB (NYSE:SLB) from an in-line rating to an outperform rating in a research report sent to investors on Tuesday, Marketbeat Ratings reports. They currently have $54.00 price target on the oil and gas company’s stock, up from their prior price target of $38.00.

Several other research analysts have also recently weighed in on SLB. Sanford C. Bernstein increased their price target on shares of SLB from $47.60 to $52.30 and gave the company an “outperform” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. lowered their target price on SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Piper Sandler boosted their price target on SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Citigroup upped their price objective on SLB from $47.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Zacks Research raised SLB from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and an average target price of $52.92.

SLB Trading Down 0.4%

Shares of SLB stock opened at $43.62 on Tuesday. 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 business has a fifty day simple moving average of $37.59 and a two-hundred day simple moving average of $35.64. SLB has a 1 year low of $31.11 and a 1 year high of $45.15. The company has a market capitalization of $65.17 billion, a price-to-earnings ratio of 16.84 and a beta of 0.72.

SLB (NYSE:SLB) last released its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02. The firm had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.89 earnings per share. Research analysts forecast that SLB will post 3.38 EPS for the current year.

SLB Dividend Announcement

The company 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 is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a dividend yield of 2.6%. SLB’s dividend payout ratio (DPR) is currently 44.02%.

Insider Buying and Selling at SLB

In other news, CFO Stephane Biguet sold 38,447 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $36.75, for a total transaction of $1,412,927.25. Following the completion of the transaction, the chief financial officer owned 175,690 shares of the company’s stock, valued at approximately $6,456,607.50. The trade was a 17.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on 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 sale, the executive vice president owned 159,371 shares of the company’s stock, valued at approximately $6,006,692.99. This represents a 27.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 103,947 shares of company stock worth $3,871,337 over the last three months. Corporate insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Twin Peaks Wealth Advisors LLC bought a new stake in shares of SLB during the 2nd quarter valued at approximately $25,000. Atticus Wealth Management LLC acquired a new stake in SLB in the second quarter valued at approximately $29,000. Root Financial Partners LLC bought a new stake in shares of SLB during the third quarter worth $29,000. Corsicana & Co. acquired a new position in shares of SLB during the third quarter worth $31,000. Finally, Strengthening Families & Communities LLC bought a new position in shares of SLB in the 3rd quarter valued at $31,000. Institutional investors and hedge funds 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.