Strategic Investment Advisors MI Buys 12,982 Shares of SLB Limited $SLB

Strategic Investment Advisors MI increased its stake in shares of SLB Limited (NYSE:SLB) by 108.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 24,972 shares of the oil and gas company’s stock after acquiring an additional 12,982 shares during the quarter. Strategic Investment Advisors MI’s holdings in SLB were worth $1,283,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Evergreen Advisors LLC acquired a new stake in SLB during the 1st quarter worth approximately $26,000. MV Capital Management Inc. acquired a new position in SLB in the 4th quarter valued at $28,000. Strategic Wealth Advisors LLC acquired a new position in SLB in the 4th quarter valued at $30,000. Costello Asset Management INC increased its position in SLB by 93.3% during the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after buying an additional 280 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SLB during the fourth quarter worth $31,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on SLB shares. Stifel Nicolaus raised their price target 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. Susquehanna increased their target price on shares of SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a research report on Monday. UBS Group decreased their target price on shares of SLB from $69.00 to $66.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. BMO Capital Markets raised their target price on shares of SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Piper Sandler lifted their price target on shares of SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, SLB has an average rating of “Moderate Buy” and an average price target of $61.35.

SLB Stock Performance

Shares of SLB stock opened at $48.91 on Friday. The company has a 50 day moving average of $50.58 and a 200-day moving average of $50.77. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. The company has a market cap of $73.12 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 3.25 and a beta of 0.72.

SLB (NYSE:SLB) last announced its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. SLB had a net margin of 8.53% and a return on equity of 14.05%. The business had revenue of $8.97 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same period last year, the firm posted $0.74 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, equities research analysts forecast that SLB Limited will post 2.49 earnings per share for the current fiscal year.

SLB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio is currently 57.00%.

Insider Buying and Selling at SLB

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director directly owned 16,953 shares of the company’s stock, valued at $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.

Key Stories Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB’s second-quarter earnings and revenue exceeded expectations, with EPS of $0.55 versus the $0.51 consensus and revenue of $8.97 billion versus $8.67 billion expected. Revenue increased 5% year over year, renewing interest in the oilfield-services provider and energy ETFs with significant SLB exposure, including IEZ, OIH and XLE. How SLB’s Q2 Earnings Impact Energy ETFs
• Positive Sentiment: BMO Capital Markets raised its SLB price target to $63, while a Morgan Stanley analyst also expects the stock to rise. Analysts broadly remain optimistic after SLB outperformed the broader market over the past year. BMO Raises SLB Price Target Morgan Stanley’s SLB Outlook Wall Street Analysts’ View of SLB
• Neutral Sentiment: SLB has attracted unusually high investor attention, but the coverage does not identify a specific new fundamental catalyst beyond its earnings performance and analyst outlook. SLB Investor Attention
• Neutral Sentiment: Despite a roughly 93% five-year return, a discounted-cash-flow analysis indicates potential value above the current share price. However, the valuation depends on continued growth in energy services and SLB’s data-center infrastructure initiatives. SLB Valuation Analysis
• Negative Sentiment: Zacks Research downgraded SLB from “hold” to “strong sell,” creating a notable bearish counterpoint to the otherwise favorable analyst consensus. Zacks Downgrade Report

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.