Tejara Capital Ltd Trims Position in SLB Limited $SLB

Tejara Capital Ltd decreased its holdings in SLB Limited (NYSE:SLB) by 78.9% in the second quarter, HoldingsChannel.com reports. The fund owned 21,400 shares of the oil and gas company’s stock after selling 80,200 shares during the quarter. Tejara Capital Ltd’s holdings in SLB were worth $995,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of SLB. Evergreen Advisors LLC bought a new stake in shares of SLB in the first quarter worth about $26,000. Costello Asset Management INC grew 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 valued at $30,000 after purchasing an additional 280 shares during the last quarter. Arlington Trust Co LLC raised its holdings in shares of SLB by 66.5% in the second quarter. Arlington Trust Co LLC now owns 701 shares of the oil and gas company’s stock worth $33,000 after buying an additional 280 shares during the period. MV Capital Management Inc. purchased a new stake in SLB in the fourth quarter worth $28,000. Finally, Maryland Capital Advisors Inc. purchased a new position in SLB in the 2nd quarter worth about $35,000. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on SLB. Zacks Research lowered SLB from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. Evercore restated an “outperform” rating and issued a $66.00 target price on shares of SLB in a research note on Monday, July 27th. Weiss Ratings restated a “hold (c)” rating on shares of SLB in a report on Monday, August 3rd. Piper Sandler raised their target price on SLB from $59.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Finally, Citigroup dropped their price objective on shares of SLB from $68.00 to $63.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $61.35.

Key Stories Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: Venezuela expansion could add meaningful work. SLB is preparing to restart as many as 15 oil rigs in Venezuela and is working with Formentera Partners to reactivate existing equipment or bring in additional rigs. Venezuela also signed agreements with SLB and other companies aimed at increasing oil production, potentially creating new drilling and well-services revenue. SLB Prepares to Restart 15 Oil Rigs in Venezuela SLB, Formentera working to activate drilling rigs in Venezuela Venezuela Signs Deals With SLB and Hunt
• Positive Sentiment: New offshore work in Brunei adds backlog visibility. Shell selected SLB for a production-restoration project offshore Brunei, providing another international contract and reinforcing demand for SLB’s technical services. Shell Taps SLB for Production Restarts offshore Brunei
• Positive Sentiment: Industry spending trends remain supportive. Commentary on rising upstream capital spending and SLB’s EnerCom presentation highlights the potential for increased customer activity, particularly in international and offshore markets. This supports the company’s longer-term revenue outlook. What Could Rising Upstream Spending Mean for SLB SLB Presents at the EnerCom Energy Investment Conference
• Neutral Sentiment: Risks temper the bullish impact. Venezuela projects may face sanctions, operational, payment and political risks, while higher long-term Treasury yields could pressure income-oriented stocks and raise financing costs across the energy sector. Dividend Stocks and Rising Treasury Yields

SLB Stock Performance

NYSE:SLB opened at $53.71 on Friday. The stock has a market capitalization of $79.71 billion, a PE ratio of 25.95, a P/E/G ratio of 3.53 and a beta of 0.73. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The company has a fifty day moving average of $49.34 and a two-hundred day moving average of $51.22. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44.

SLB (NYSE:SLB) last posted its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. The company had revenue of $8.97 billion during the quarter, compared to analyst estimates of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.SLB’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 EPS. As a group, research analysts forecast that SLB Limited will post 2.5 earnings per share for the current fiscal year.

SLB Announces Dividend

The firm also recently declared 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. The ex-dividend date is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. 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.