Barclays Cuts SLB Price Target to $66

Barclays has reiterated its Overweight rating on SLB N.V. (NYSE: SLB) on October 15, 2026, setting a new price target of $66.00, down from $67.00. This target suggests a significant gap when compared to the recent trading price of $49.37, observed on October 16, 2026.

Barclays' Call on SLB

Barclays maintained its Overweight rating on SLB, indicating confidence in the company's performance despite lowering the price target. The stock's current price is about 20.9% below the mean analyst target of $62.41, pointing to a potential upside if the stock aligns with analyst expectations in the future.

Other Institutional Activity in SLB

In recent filings, Blackrock Inc. reduced its holdings in SLB by 16,079,220 shares, bringing its total to 116,151,208 shares valued at approximately $5.75 billion. Vanguard Capital Management LLC increased its stake slightly by 485,941 shares, holding 97,674,144 shares worth about $4.83 billion. State Street Corporation also grew its position by 723,989 shares, ending with 91,222,641 shares valued at approximately $4.52 billion. Vanguard Portfolio Management LLC added 522,245 shares, totaling 75,128,679 shares worth about $3.72 billion, while Price (T. Rowe) Associates Inc. increased its holdings by 7,590,998 shares, bringing its total to 61,619,448 shares valued at around $3.05 billion.

SLB N.V. Stock Up 2.0%

SLB shares are currently trading at $49.37, which is about 6.3% below the 50-day moving average of $52.70 and 3.2% below the 200-day moving average of $50.98. The stock is also approximately 18.3% below its 52-week high of $60.46 but remains 56.0% above its 52-week low of $31.64.

Recent Earnings

For the trailing twelve months, SLB reported revenue of about $36.37 billion and an EPS of $2.07. The company has shown a revenue growth of 5.0% year-over-year and a net margin of 8.5%. Its next earnings report is scheduled for October 23, 2026.

Insider Buying and Selling at SLB N.V.

Recent insider activity includes Chief Executive Officer Olivier Le Peuch, who sold 25,000 shares at an average price of $52.55 on August 26, 2026, totaling about $1.31 million. He also sold an additional 5,000 shares at $55.00 on August 27, 2026, worth $275,000, and another 5,000 shares at $60.00 on August 31, 2026, valued at $300,000. On September 1, 2026, he sold 35,000 shares at $60.00 for a total of $2.10 million.

Analysts Set New Price Targets

On October 15, 2026, Barclays reiterated its Overweight rating on SLB with a new price target of $66.00, down from $67.00. Other analysts have also maintained their ratings, with UBS keeping its Buy rating and raising its target to $75.00 on September 14, 2026. The consensus from 29 analysts gives SLB a recommendation key of "buy" with a mean price target of $62.41.

About SLB

SLB N.V. provides technology and services for the energy industry globally. The company operates in various segments such as Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. Its focus includes field development, carbon management, and well construction services, making it a key player in the oil and gas equipment and services sector.

Bottom Line

Investors should watch for SLB's upcoming earnings report on October 23, 2026, and continue to monitor analyst updates for any changes in ratings or price targets. Barclays' reiteration of its Overweight rating suggests confidence in SLB's potential despite the recent price adjustments.