Peak Asset Management LLC Has $2.30 Million Holdings in SLB Limited $SLB

Peak Asset Management LLC lifted its position in shares of SLB Limited (NYSE:SLB) by 33.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,481 shares of the oil and gas company’s stock after purchasing an additional 12,275 shares during the period. Peak Asset Management LLC’s holdings in SLB were worth $2,300,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Evergreen Advisors LLC acquired a new position in SLB in the 1st quarter valued at approximately $26,000. MV Capital Management Inc. acquired a new position in shares of SLB during the fourth quarter worth $28,000. Strategic Wealth Advisors LLC bought a new stake in shares of SLB in the fourth quarter worth $30,000. Costello Asset Management INC increased its holdings in SLB by 93.3% in the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 280 shares during the period. Finally, Lloyd Advisory Services LLC. acquired a new stake in SLB in the fourth quarter valued at $31,000. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Piper Sandler boosted their target price on SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Evercore restated an “outperform” rating and set a $66.00 price objective on shares of SLB in a report on Monday, July 27th. Barclays lifted their target price on SLB from $64.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Finally, BMO Capital Markets upped their price objective on shares of SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Two 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.35.

SLB Trading Up 0.2%

Shares of SLB stock opened at $53.99 on Tuesday. The stock has a market capitalization of $80.14 billion, a P/E ratio of 26.08, a P/E/G ratio of 3.55 and a beta of 0.73. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. The stock’s 50-day simple moving average is $49.30 and its 200 day simple moving average is $51.29.

SLB (NYSE:SLB) last issued 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 during the quarter, compared to analyst estimates of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business earned $0.74 earnings per share. As a group, research analysts anticipate that SLB Limited will post 2.5 EPS for the current year.

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Wednesday, September 2nd will be issued a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. SLB’s payout ratio is presently 57.00%.

SLB Company 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.