SLB Limited $SLB Position Trimmed by EFG International AG

EFG International AG decreased its holdings in SLB Limited (NYSE:SLB) by 45.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 38,658 shares of the oil and gas company’s stock after selling 31,662 shares during the quarter. EFG International AG’s holdings in SLB were worth $1,799,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. State Street Corp lifted its position in shares of SLB by 1.0% during the 4th quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company’s stock valued at $3,263,998,000 after acquiring an additional 799,218 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of SLB by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company’s stock worth $2,072,844,000 after acquiring an additional 1,458,650 shares during the last quarter. Morgan Stanley grew its holdings in shares of SLB by 1.3% in the 4th quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company’s stock worth $1,423,716,000 after acquiring an additional 482,533 shares during the last quarter. Geode Capital Management LLC raised its position in shares of SLB by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock worth $1,292,993,000 after purchasing an additional 510,747 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of SLB during the second quarter valued at $1,339,567,000. Institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

Shares of SLB stock opened at $53.66 on Thursday. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The stock has a market cap of $79.64 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 3.52 and a beta of 0.73. The business has a fifty day simple moving average of $49.38 and a 200-day simple moving average of $51.34.

SLB (NYSE:SLB) last posted its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The firm had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.SLB’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 earnings per share. On average, sell-side analysts anticipate that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SLB. UBS Group decreased their price target on SLB from $69.00 to $66.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Royal Bank Of Canada restated an “outperform” rating and set a $61.00 price objective on shares of SLB in a report on Tuesday, June 16th. TD Cowen upped their price objective on shares of SLB from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Piper Sandler raised their target price on shares of SLB from $59.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Finally, Stifel Nicolaus lifted their target price on shares of SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.35.

SLB News Summary

Here are the key news stories impacting SLB this week:

• Positive Sentiment: New North Sea carbon-storage contract: SLB was selected as strategic reservoir partner for Norway’s Havstjerne carbon-storage project. The company will provide reservoir technology and engineering services during the concept and front-end engineering and design phases, strengthening its position in Europe’s emerging carbon-capture and storage market. SLB selected as reservoir partner for Havstjerne carbon storage project
• Positive Sentiment: Potential Venezuelan growth opportunity: A contract with Venezuela’s state-run PDVSA reportedly gives SLB access to the country’s oilfield data. Access to data from one of the world’s largest oil-reserve holders could create opportunities for future reservoir evaluation, production optimization and oilfield-services work, though the commercial benefits remain uncertain. SLB gains access to Venezuela’s coveted oilfield data through contract
• Neutral Sentiment: CEO share sale: Chief Executive Olivier Le Peuch sold 25,000 SLB shares under a prearranged Rule 10b5-1 trading plan. Because the transaction was scheduled in advance, it does not necessarily signal a change in management’s view of the company, but it can still attract investor attention. SLB CEO Olivier Le Peuch executes sale of 25,000 shares
• Negative Sentiment: Recent trading weakness: SLB declined in the prior session even as the broader market advanced, indicating some relative investor caution despite the new project announcements. SLB stock falls amid market uptick

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.