Wealth Enhancement Advisory Services LLC raised its holdings in shares of SLB Limited (NYSE:SLB – Free Report) by 9.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 154,361 shares of the oil and gas company’s stock after buying an additional 13,501 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in SLB were worth $7,127,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Signature Estate & Investment Advisors LLC bought a new stake in SLB in the 2nd quarter worth $6,003,000. Accurate Wealth Management LLC grew its holdings in shares of SLB by 12.2% during the 2nd quarter. Accurate Wealth Management LLC now owns 4,620 shares of the oil and gas company’s stock worth $221,000 after acquiring an additional 504 shares during the period. QRG Capital Management Inc. raised its holdings in SLB by 29.5% in the second quarter. QRG Capital Management Inc. now owns 149,030 shares of the oil and gas company’s stock worth $6,928,000 after purchasing an additional 33,951 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of SLB by 33.8% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 6,862 shares of the oil and gas company’s stock worth $318,000 after acquiring an additional 1,733 shares in the last quarter. Finally, Hendley & Co. Inc. increased its stake in shares of SLB by 47.3% during the second quarter. Hendley & Co. Inc. now owns 116,540 shares of the oil and gas company’s stock valued at $5,418,000 after purchasing an additional 37,420 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently issued reports on SLB shares. Wolfe Research assumed coverage on SLB in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price target for the company. Zacks Research downgraded SLB from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. Susquehanna boosted their target price on shares of SLB from $55.00 to $62.00 and gave the company a “positive” rating in a research report on Monday, July 27th. Royal Bank Of Canada restated an “outperform” rating and issued a $61.00 price target on shares of SLB in a research report on Tuesday, June 16th. Finally, Evercore restated an “outperform” rating and set a $66.00 price objective on shares of SLB in a research report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.35.
SLB Stock Down 1.9%
Shares of SLB opened at $52.66 on Thursday. SLB Limited has a 1 year low of $31.64 and a 1 year high of $58.82. 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 business’s 50 day simple moving average is $49.67 and its 200-day simple moving average is $51.04. The stock has a market capitalization of $78.15 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 3.54 and a beta of 0.73.
SLB (NYSE:SLB – Get Free Report) last posted its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. As a group, equities analysts expect that SLB Limited will post 2.5 earnings per share for the current fiscal year.
SLB Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB’s payout ratio is presently 57.00%.
SLB 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.
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