There’s Something Awry at SLB (NYSE:SLB) Since Share Price Gets Ahead of Fundamentals

The stock of SLB (NYSE:SLB) last traded at $55.70, up 0.54% from the previous session.

Data from the available sources indicates that SLB (NYSE:SLB) is covered by 30 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $77.00 and a low of $62.00, we find $68.00. Given the previous closing price of $55.40, this indicates a potential upside of 22.74 percent. SLB stock price is now -5.35% away from the 50-day moving average and 5.08% away from the 200-day moving average. The market capitalization of the company currently stands at $79.16B.

In total, 2 analysts have assigned it a hold rating, and 24 have given it a buy rating. Brokers who have rated the stock have averaged $68.27 as their price target over the next twelve months.

With the price target of $63, CapitalOne recently initiated with Overweight rating for SLB (NYSE: SLB).

In other news, Biguet Stephane, EVP & CFO sold 6,250 shares of the company’s stock on Sep 25. The stock was sold for $368,312 at an average price of $58.93. Upon completion of the transaction, the EVP & CFO now directly owns 182,265 shares in the company, valued at $10.15 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 05, EVP, Geographies Al Mogharbel Khaled sold 30,000 shares of the business’s stock. A total of $1,807,260 was realized by selling the stock at an average price of $60.24. This leaves the insider owning 324,867 shares of the company worth $18.1 million. Insiders disposed of 1,209,262 shares of company stock worth roughly $67.36 million over the past 1 year. A total of 0.22% of the company’s stock is owned by insiders.

There have been several recent changes in the stakes of large investors in SLB stock. A new stake in SLB shares was purchased by SANDERS CAPITAL, LLC during the first quarter worth $332,584,000. WESTWOOD HOLDINGS GROUP INC invested $35,611,000 in shares of SLB during the first quarter. In the first quarter, TWINBEECH CAPITAL LP acquired a new stake in SLB valued at approximately $31,999,000. AKARIS GLOBAL PARTNERS, LP acquired a new stake in SLB for approximately $30,919,000. AUSTRALIANSUPER PTY LTD purchased a new stake in SLB valued at around $27,850,000 in the second quarter. In total, there are 1,905 active investors with 82.69% ownership of the company’s stock.

With an opening price of $55.58 on Friday morning, SLB (NYSE: SLB) set off the trading day. During the past 12 months, SLB has had a low of $41.10 and a high of $62.12. As of last week, the company has a debt-to-equity ratio of 0.72, a current ratio of 1.33, and a quick ratio of 0.97. According to the stock market information, the enterprise value for the company is $89.30B, which is based on a 20.39 price-to-earnings ratio, a 0.62 price-to-earnings-growth ratio, and a beta of 1.79. The fifty day moving average price for SLB is $58.82 and a two-hundred day moving average price translates $53.04 for the stock.

The latest earnings results from SLB (NYSE: SLB) was released for Jun, 2023. According to the Oil & Gas Equipment & Services Company, earnings per share came in at $0.72, beating analysts’ expectations of $0.71 by 0.01. This compares to $0.67 EPS in the same period last year. The net profit margin was 12.62% and return on equity was 22.55% for SLB. The company reported revenue of $8.1 billion for the quarter, compared to $6.77 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 19.58 percent. For the current quarter, analysts expect SLB to generate $8.34B in revenue.

Moreover, the firm recently paid out its quarterly dividend on 10/12/2023. Investors who held shares on 09/06/2023 were paid a $0.25 dividend. On an annualized basis, this represents a $0.96 dividend and a 1.72% percent yield. There was an ex-dividend date of 09/05/2023 for this dividend. In terms of dividend payout ratio, SLB is presently at 27.14%.

SLB(SLB) Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products. It also offers subsurface geology and fluids evaluation information; open and cased hole services; exploration and production pressure, and flow-rate measurement services; and pressure pumping, well stimulation, and coiled tubing equipment solutions. In addition, the company offers mud logging, directional drilling, measurement-while-drilling, and logging-while-drilling services, as well as engineering support services; supplies drilling fluid systems; designs, manufactures, and markets roller cone and fixed cutter drill bits; bottom-hole-assembly and borehole enlargement technologies; well cementing products and services; well planning, well drilling, engineering, supervision, logistics, procurement, and contracting of third parties, as well as drilling rig management solutions; and drilling equipment and services, as well as land drilling rigs and related services. Further, it provides artificial lift production equipment and optimization services; supplies packers, safety valves, sand control technology, and various intelligent well completions technology and equipment; designs and manufactures valves, chokes, actuators, and surface trees; and OneSubsea an integrated solutions, products, systems, and services, including wellheads, subsea trees, manifolds and flowline connectors, control systems, connectors, and services. The company was formerly known as Socie´te´ de Prospection E´lectrique. Schlumberger Limited was founded in 1926 and is based in Houston, Texas.