Jones Financial Companies Lllp raised its holdings in SLB Limited (NYSE:SLB – Free Report) by 11.4% in the second quarter, Holdings Channel reports. The fund owned 523,533 shares of the oil and gas company’s stock after acquiring an additional 53,771 shares during the period. Jones Financial Companies Lllp’s holdings in SLB were worth $24,605,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Bank of America Corp DE lifted its holdings in shares of SLB by 11.1% in the first quarter. Bank of America Corp DE now owns 10,536,104 shares of the oil and gas company’s stock valued at $541,450,000 after purchasing an additional 1,052,239 shares in the last quarter. Fearnley Asset Management AS bought a new position in shares of SLB during the 4th quarter worth approximately $8,574,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of SLB during the 1st quarter worth approximately $47,528,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in SLB by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock valued at $126,303,000 after purchasing an additional 128,660 shares in the last quarter. Finally, Cibc World Market Inc. grew its position in SLB by 48.7% in the fourth quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock valued at $52,468,000 after purchasing an additional 447,667 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently commented on SLB shares. BMO Capital Markets increased their price objective on shares of SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Wolfe Research assumed coverage on SLB in a research report on Wednesday, July 8th. They set an “outperform” rating and a $62.00 price target on the stock. Piper Sandler upped their price objective on SLB from $59.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. JPMorgan Chase & Co. upped their price target on shares of SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Finally, Evercore reissued an “outperform” rating and issued a $66.00 price objective on shares of SLB in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.35.
SLB Price Performance
Shares of NYSE SLB opened at $53.99 on Tuesday. The firm has a market cap of $80.14 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 3.55 and a beta of 0.73. The business’s 50 day moving average is $49.30 and its 200-day moving average is $51.29. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82.
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 company had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 earnings per share. Equities research analysts predict that SLB Limited will post 2.5 earnings per share for the current year.
SLB Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 2nd. SLB’s payout ratio is 57.00%.
About SLB
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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