Strategic Investment Advisors MI Has $1.28 Million Stock Holdings in SLB Limited $SLB

Strategic Investment Advisors MI raised its position in SLB Limited (NYSE:SLB) by 108.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 24,972 shares of the oil and gas company’s stock after buying an additional 12,982 shares during the period. Strategic Investment Advisors MI’s holdings in SLB were worth $1,283,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Evergreen Advisors LLC bought a new position in SLB in the first quarter valued at about $26,000. Costello Asset Management INC raised its holdings 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 purchasing an additional 280 shares during the last quarter. MV Capital Management Inc. acquired a new position in SLB during the 4th quarter valued at about $28,000. Sound Income Strategies LLC lifted its holdings in 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 period. Finally, Steph & Co. raised its position in shares of SLB by 97.5% during the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 394 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SLB

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SLB shares. Susquehanna increased their price target on SLB from $55.00 to $62.00 and gave the company a “positive” rating in a research note on Monday. Stifel Nicolaus upped their price objective on SLB from $61.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Raymond James Financial cut their target price on SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, July 10th. Barclays raised their target price on SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $66.00 price target on shares of SLB in a report on Sunday. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.35.

Trending Headlines about 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 Stock Down 0.1%

SLB stock opened at $48.91 on Friday. 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. The company has a fifty day simple moving average of $50.58 and a 200 day simple moving average of $50.77. The company has a market cap of $73.12 billion, a P/E 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 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 company had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $8.67 billion. During the same quarter last year, the company earned $0.74 EPS. SLB’s revenue for the quarter was up 5.0% compared to the same quarter last year. Research analysts anticipate that SLB Limited will post 2.49 earnings per share for the current fiscal year.

SLB Announces Dividend

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

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.