Quantinno Capital Management LP Raises Stock Holdings in SLB Limited $SLB

Quantinno Capital Management LP grew its position in SLB Limited (NYSE:SLB) by 38.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 733,174 shares of the oil and gas company’s stock after acquiring an additional 204,009 shares during the quarter. Quantinno Capital Management LP’s holdings in SLB were worth $37,678,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of SLB. Evergreen Advisors LLC purchased a new stake in SLB in the 1st quarter valued at $26,000. MV Capital Management Inc. purchased a new position in SLB during the 4th quarter worth $28,000. Strategic Wealth Advisors LLC purchased a new position in SLB during the 4th quarter worth $30,000. Costello Asset Management INC increased 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 purchasing an additional 280 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in SLB in the fourth quarter valued at $31,000. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Stock Down 0.1%

Shares of SLB stock opened at $48.91 on Friday. SLB Limited has a one year low of $31.64 and a one year high of $58.82. The company has a market cap of $73.12 billion, a P/E ratio of 23.63, a PEG ratio of 3.25 and a beta of 0.72. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. The firm has a fifty day moving average of $50.58 and a two-hundred day moving average of $50.77.

SLB (NYSE:SLB) last issued its 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. 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 the consensus estimate of $8.67 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, analysts forecast that SLB Limited will post 2.49 earnings per share for the current year.

SLB Dividend Announcement

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

Insider Transactions at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the transaction, the director owned 16,953 shares in the company, valued at approximately $921,056.49. The trade was a 10.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets increased their target price on shares of SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday. Citigroup dropped their price target on SLB from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. UBS Group reduced their price objective on SLB from $69.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Weiss Ratings cut SLB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley lifted their target price on SLB from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, SLB presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.35.

SLB News Roundup

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.