Hsbc Holdings PLC Purchases 586,358 Shares of SLB Limited $SLB

Hsbc Holdings PLC increased its position in SLB Limited (NYSE:SLB) by 19.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,639,626 shares of the oil and gas company’s stock after buying an additional 586,358 shares during the quarter. Hsbc Holdings PLC’s holdings in SLB were worth $169,082,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Evergreen Advisors LLC purchased a new position in shares of SLB in the first quarter valued at about $26,000. MV Capital Management Inc. bought a new stake in shares of SLB in the fourth quarter worth about $28,000. Strategic Wealth Advisors LLC bought a new stake in shares of SLB in the fourth quarter worth about $30,000. Costello Asset Management INC increased 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 period. Finally, Lloyd Advisory Services LLC. bought a new position in SLB during the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Stock Down 1.3%

NYSE:SLB opened at $53.31 on Wednesday. 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 market cap of $79.12 billion, a P/E ratio of 25.75, a P/E/G ratio of 3.56 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 firm has a 50-day simple moving average of $49.31 and a two-hundred day simple moving average of $51.31.

SLB (NYSE:SLB) last announced its quarterly 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. The company had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. Analysts predict that SLB Limited will post 2.5 earnings per share for the current fiscal year.

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders 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 dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB’s dividend payout ratio is presently 57.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Piper Sandler lifted their price objective on SLB from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. TD Cowen raised their price target on SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Morgan Stanley boosted their price objective on shares of SLB from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Evercore restated an “outperform” rating and issued a $66.00 price objective on shares of SLB in a report on Monday, July 27th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of SLB in a report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.35.

Key SLB News

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB secured access to valuable Venezuelan oilfield data through a contract with state-run PDVSA. The information could support future reservoir evaluation and technology projects in a country with the world’s largest crude reserves, though regulatory and geopolitical risks remain. Reuters: SLB gains access to Venezuela oilfield data through contract
• Positive Sentiment: SLB was selected as strategic reservoir partner for Harbour Energy’s Havstjerne carbon storage project in Norway’s North Sea. The company will provide technology and engineering services during the concept and front-end engineering and design phases, strengthening its position in carbon-management markets. SLB Selected as Strategic Reservoir Partner for the Havstjerne Carbon Storage Project
• Positive Sentiment: The company launched its ExaCT electrical downhole coiled-tubing control system, which provides real-time electrical communication, power and telemetry. SLB says the technology can improve intervention precision, reservoir access and operational visibility, potentially supporting future product adoption. SLB Launches ExaCT Electrical Downhole CT Control System
• Neutral Sentiment: Unusually heavy call-option activity indicates increased speculative interest, but options volume does not guarantee sustained buying or a change in fundamentals. SLB options trading activity
• Negative Sentiment: SLB shares underperformed during the latest session even as the broader market advanced. Coverage characterized the move as a market and positioning issue rather than citing a new deterioration in operations. Investors may also be assessing valuation after the stock’s strong recovery and the company’s earnings outlook.

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.