Clifford Swan Investment Counsel LLC Cuts Stake in SLB Limited $SLB

Clifford Swan Investment Counsel LLC cut its stake in shares of SLB Limited (NYSE:SLB) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 541,677 shares of the oil and gas company’s stock after selling 14,482 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in SLB were worth $25,183,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SLB. Bank of New York Mellon Corp purchased a new stake in SLB during the 2nd quarter valued at about $1,339,567,000. Norges Bank bought a new position in shares of SLB in the fourth quarter worth approximately $809,557,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of SLB by 6,358.2% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,134,731 shares of the oil and gas company’s stock valued at $471,164,000 after buying an additional 9,977,804 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of SLB by 50.6% during the fourth quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company’s stock valued at $638,473,000 after buying an additional 5,589,585 shares during the last quarter. Finally, State Street Corp increased its position in shares of SLB by 7.0% during the third quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock valued at $2,898,037,000 after acquiring an additional 5,466,786 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Price Performance

NYSE SLB opened at $60.26 on Tuesday. The stock has a market capitalization of $89.43 billion, a price-to-earnings ratio of 29.11, a PEG ratio of 3.78 and a beta of 0.73. SLB Limited has a 1-year low of $31.64 and a 1-year high of $60.46. 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 fifty day moving average price is $49.95 and its 200-day moving average price is $51.48.

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

SLB Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, September 2nd. SLB’s payout ratio is currently 57.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SLB shares. UBS Group lowered their price objective on SLB from $69.00 to $66.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Evercore reissued an “outperform” rating and issued a $66.00 target price on shares of SLB in a report on Monday, July 27th. BMO Capital Markets boosted their price target on SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Zacks Research raised SLB from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Finally, Raymond James Financial dropped their price objective on SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.35.

Key Headlines Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: Large data-center acquisition expands SLB’s growth strategy. SLB agreed to acquire Kelvion from Apollo-managed funds and Triton for approximately $3.4 billion in cash, excluding assumed debt, or roughly $4.1 billion including about $700 million of debt. Kelvion’s cooling systems should strengthen SLB’s Data Center Solutions business and give the company greater exposure to AI-driven infrastructure spending. SLB to acquire Kelvion for $3.4 billion
• Positive Sentiment: Recent operating performance has exceeded expectations. SLB outperformed many oilfield-services peers in the completed second quarter. Its latest reported quarter included earnings and revenue above consensus, with revenue up year over year; another analysis cited sequential revenue growth, margin expansion and strong data-center performance despite Middle East-related headwinds. Q2 Earnings Outperformers: SLB and the Rest of the Oilfield Services Stocks
• Positive Sentiment: Carbon-management and technology wins support diversification. SLB was selected as reservoir partner for Norway’s Havstjerne carbon-storage project and has continued to win carbon-storage and international production-related contracts. The company also launched the ExaCT electrical downhole coiled-tubing control system, reinforcing its digital and technology portfolio. SLB Lands North Sea Carbon Role and Launches New Downhole Control System
• Neutral Sentiment: Analysts view SLB’s newer digital, subsea, carbon-management and data-center businesses as potentially creating more recurring, capital-light revenue and reducing dependence on new-well drilling. However, valuation measures are mixed: discounted-cash-flow estimates suggest upside, while earnings multiples indicate the stock is closer to fair value. SLB Stock Trades at a Discount to Fair Value
• Negative Sentiment: The Kelvion transaction is substantial and includes assumed debt, creating potential financing, integration and execution risks. Investors may also remain cautious because SLB’s latest quarterly EPS was below the prior-year period, while oilfield-services results remain exposed to geopolitical and energy-market conditions.

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.