Piper Sandler Has Lowered Expectations for SLB (NYSE:SLB) Stock Price

by · The Markets Daily

SLB (NYSE:SLB – Get Free Report) had its target price cut by stock analysts at Piper Sandler from $64.00 to $63.00 in a report released on Monday, MarketBeat.com reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Piper Sandler’s price target indicates a potential upside of 25.84% from the company’s previous close.

Several other brokerages also recently commented on SLB. Morgan Stanley boosted their target price on shares of SLB from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Raymond James Financial dropped their target price on shares of SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Capital One Financial dropped their target price on shares of SLB from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Tuesday, August 18th. Weiss Ratings reissued a “hold (c)” rating on shares of SLB in a report on Monday, August 3rd. Finally, The Goldman Sachs Group reduced their price target on shares of SLB from $63.00 to $62.00 in a research report on Tuesday, July 7th. Twenty-four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.27.

View Our Latest Research Report on SLB

SLB Price Performance

Shares of SLB stock opened at $50.06 on Monday. The stock’s fifty day simple moving average is $52.66 and its 200 day simple moving average is $52.13. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05. The firm has a market cap of $74.30 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 2.70 and a beta of 0.83. SLB has a one year low of $33.12 and a one year high of $60.46.

SLB (NYSE:SLB – Get Free Report) last announced its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. SLB had a return on equity of 14.05% and a net margin of 8.53%. The firm had revenue of $8.97 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same period in the prior year, the business posted $0.74 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. On average, analysts expect that SLB will post 2.48 earnings per share for the current fiscal year.

Institutional Trading of SLB

Several institutional investors and hedge funds have recently made changes to their positions in SLB. Abel Hall LLC raised its holdings in shares of SLB by 2.7% in the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock valued at $387,000 after purchasing an additional 198 shares during the period. E Fund Management Co. Ltd. grew its holdings in SLB by 3.6% during the second quarter. E Fund Management Co. Ltd. now owns 5,712 shares of the oil and gas company’s stock worth $266,000 after purchasing an additional 199 shares during the period. Capital Advisors Ltd. LLC grew its holdings in SLB by 9.3% during the first quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock worth $129,000 after purchasing an additional 214 shares during the period. Cypress Capital Group grew its holdings in SLB by 1.9% during the first quarter. Cypress Capital Group now owns 12,308 shares of the oil and gas company’s stock worth $633,000 after purchasing an additional 234 shares during the period. Finally, Palisade Capital Management LP increased its position in SLB by 4.1% during the second quarter. Palisade Capital Management LP now owns 5,939 shares of the oil and gas company’s stock worth $276,000 after buying an additional 234 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

SLB Company Profile

(Get Free Report)

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.

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