SLB Limited $SLB Shares Acquired by Corient Private Wealth LP

Corient Private Wealth LP boosted its holdings in SLB Limited (NYSE:SLB) by 8.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 806,158 shares of the oil and gas company’s stock after acquiring an additional 63,233 shares during the quarter. Corient Private Wealth LP owned 0.05% of SLB worth $37,479,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in SLB in the second quarter worth about $1,339,567,000. Norges Bank acquired a new position in SLB during the 4th quarter valued at about $809,557,000. Wellington Management Group LLP raised its position in shares of SLB by 50.6% during the 4th quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company’s stock worth $638,473,000 after buying an additional 5,589,585 shares in the last quarter. State Street Corp raised its position in shares of SLB by 7.0% during the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock worth $2,898,037,000 after buying an additional 5,466,786 shares in the last quarter. Finally, Capital International Investors lifted its stake in shares of SLB by 86.9% in the 4th quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock worth $446,247,000 after acquiring an additional 5,404,948 shares during the period. Institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

Shares of SLB opened at $55.06 on Friday. 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 firm’s 50 day moving average is $49.52 and its 200-day moving average is $51.37. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82. The stock has a market capitalization of $81.72 billion, a P/E ratio of 26.60, a P/E/G ratio of 3.54 and a beta of 0.73.

SLB (NYSE:SLB) last released its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. The business 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 business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.74 earnings per share. Equities research analysts anticipate that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio is 57.00%.

Analysts Set New Price Targets

Several research firms have recently issued reports on SLB. Citigroup decreased their price objective on shares of SLB from $68.00 to $63.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Piper Sandler upped their target price on SLB from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Barclays increased their price target on SLB from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Sanford C. Bernstein lifted their price target on SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of SLB in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, SLB currently has an average rating of “Moderate Buy” and a consensus target price of $61.35.

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.