Citigroup Reiterates Buy Rating on SLB N.V. with $63 Target
Scott Gruber of Citigroup maintains a buy rating on SLB N.V., setting a $63 price target, a 35.51% upside from the current price.
Key Points
- Citigroup analyst Scott Gruber reiterated a buy rating on SLB N.V. (NYSE:SLB) with a price target of $63 on July 1, 2026.
- Citigroup's $63 price target implies 35.51% upside from SLB N.V.'s ($SLB) current $46.49 share price.
- Shares of SLB traded near $46.49 on Wednesday, with a market cap of approximately $69.5 billion and a P/E ratio of 20.48.
- Peers like BlackRock and State Street Corp increased their holdings in SLB, while insiders conducted both planned and unplanned transactions.
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On July 1, 2026, Citigroup analyst Scott Gruber reiterated a buy rating for SLB N.V. (NYSE:SLB), maintaining a price target of $63. This reflects continued confidence in the oil and gas services company's performance as shares traded near $46.49 on Wednesday.
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Other Institutional Activity in SLB N.V.
Several institutional investors have been active in SLB N.V. BlackRock, Inc. grew its holdings by 4,453,295 shares, ending with 132,223,012 shares valued at about $6.79 billion, marking a 3.5% increase. Vanguard Capital Management LLC opened a new position with 97,191,687 shares worth approximately $4.99 billion. State Street Corp increased its stake by 6,083,364 shares, now holding 90,500,581 shares valued at $4.68 billion, a 7.2% rise. Price T Rowe Associates Inc /MD/ made a smaller adjustment, adding 76,903 shares to reach 54,028,434 shares, worth roughly $2.78 billion.
SLB N.V. Stock Down 18.9%
Shares of SLB N.V. traded near $46.49 on Wednesday. The company has a market cap of about $69.5 billion and a P/E ratio of 20.48, with a forward P/E of 13.91. It operates with a beta of 0.708, indicating lower volatility compared to the market. The 52-week range is between $31.64 and $58.82, with moving averages of $54.26 over 50 days and $45.23 over 200 days. SLB's current ratio is 1.34, and its quick ratio stands at 0.87, with a debt-to-equity ratio of 42.52.
$SLB price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
In its recent earnings report, SLB N.V. posted revenue of $35.94 billion, with a modest growth rate of 2.7%. The company's net margin was 9.26%, and its return on equity was 14.07%. The next earnings release is scheduled for July 24, 2026.
Dividend
SLB N.V. offers an annual dividend of $1.18 per share, yielding 2.54%. The dividend payout ratio is 50.66%, reflecting a balanced approach to returning value to shareholders.
Insider Buying and Selling at SLB N.V.
Recent insider activity at SLB N.V. includes several transactions. CEO Olivier Le Peuch executed a planned sale of 25,000 shares at $56.99 each on May 27, 2026. On May 7, Patrick de La Chevardiere sold 2,000 shares at $54.33. Meanwhile, on May 1, Vanitha Narayanan and Patrick de La Chevardiere each purchased 3,428 shares, and Steve Matthew Gassen, EVP of Geographies, sold 53,379 shares at an average price of $56.18.
Analysts Set New Price Targets
On July 1, 2026, TD Cowen maintained its buy rating on SLB N.V. with a $62 target. Citigroup also reiterated its buy rating with a $63 target. Earlier, Stifel maintained a buy rating with a $64 target on June 18, and RBC Capital reiterated a buy with a $61 target on June 16. The consensus among analysts is a buy, with an average target price of $62.36 from 28 opinions.
About SLB N.V.
SLB N.V., formerly known as Schlumberger Limited, is a leading provider of technology for the energy industry. Based in Houston, Texas, the company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers a range of services and products, including field development, reservoir data processing, and well construction solutions. The company employs around 109,000 people and is led by CEO Olivier Le Peuch.
Bottom Line
Citigroup's reaffirmation of a buy rating and $63 price target for SLB N.V. indicates ongoing confidence in the company's prospects. Investors keep an eye on SLB due to its role in the energy sector and technological advancements. However, remember that analyst ratings and price targets are forward-looking and based on current assessments, which can change.
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