Union Bancaire Privee UBP SA Purchases 69,839 Shares of SLB Limited $SLB

Union Bancaire Privee UBP SA lifted its position in shares of SLB Limited (NYSE:SLB) by 736.2% during the 2nd quarter, Holdings Channel reports. The firm owned 79,325 shares of the oil and gas company’s stock after purchasing an additional 69,839 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in SLB were worth $3,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the company. Evergreen Advisors LLC bought a new position in SLB during the first quarter worth about $26,000. Costello Asset Management INC raised its stake 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 buying an additional 280 shares during the period. Arlington Trust Co LLC raised its stake in SLB by 66.5% in the second quarter. Arlington Trust Co LLC now owns 701 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 280 shares during the period. MV Capital Management Inc. acquired a new stake in shares of SLB in the fourth quarter valued at approximately $28,000. Finally, Sound Income Strategies LLC lifted its position in shares of SLB by 71.1% in the first quarter. Sound Income Strategies LLC now owns 780 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 324 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SLB has been the topic of a number of recent analyst reports. Barclays boosted their target price on SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Citigroup cut their price target on SLB from $68.00 to $63.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Piper Sandler lifted their price objective on shares of SLB from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Raymond James Financial decreased their price objective on shares of SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. Finally, UBS Group dropped their price objective 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. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.35.

SLB Price Performance

Shares of NYSE SLB opened at $51.99 on Friday. The firm has a market cap of $77.16 billion, a P/E ratio of 25.12, a price-to-earnings-growth ratio of 3.47 and a beta of 0.73. The business’s 50 day moving average is $49.54 and its 200-day moving average is $51.07. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82.

SLB (NYSE:SLB) last released its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, beating 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 business had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same period in the previous year, the company posted $0.74 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. Equities research analysts predict that SLB Limited will post 2.5 earnings per share for the current 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 given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 2nd. 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.