HB Wealth Management LLC Has $2.36 Million Stock Position in SLB Limited $SLB

HB Wealth Management LLC raised its position in SLB Limited (NYSE:SLB) by 22.7% during the second quarter, HoldingsChannel.com reports. The firm owned 50,839 shares of the oil and gas company’s stock after buying an additional 9,420 shares during the quarter. HB Wealth Management LLC’s holdings in SLB were worth $2,364,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SLB. Abel Hall LLC increased its holdings in SLB by 2.7% in the first quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock worth $387,000 after buying an additional 198 shares during the last quarter. E Fund Management Co. Ltd. increased its position in SLB by 3.6% during the second quarter. E Fund Management Co. Ltd. now owns 5,712 shares of the oil and gas company’s stock worth $266,000 after buying an additional 199 shares during the last quarter. Private Wealth Asset Management LLC increased its position in SLB by 4.1% during the fourth quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock worth $193,000 after buying an additional 200 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in SLB by 9.3% during the first quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock valued at $129,000 after buying an additional 214 shares in the last quarter. Finally, Ballentine Partners LLC lifted its position in shares of SLB by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock worth $395,000 after buying an additional 218 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SLB has been the subject of a number of recent analyst reports. TD Cowen upped their target price on SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Jefferies Financial Group reissued a “buy” rating and issued a $66.00 price target on shares of SLB in a research report on Sunday, July 26th. BMO Capital Markets reaffirmed an “outperform” rating on shares of SLB in a report on Tuesday, September 1st. UBS Group reiterated a “buy” rating on shares of SLB in a research note on Tuesday, September 1st. Finally, Citigroup dropped their target price 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 research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.35.

SLB Stock Performance

NYSE SLB opened at $57.19 on Wednesday. The company’s fifty day moving average is $51.21 and its two-hundred day moving average is $51.77. SLB Limited has a 52-week low of $31.64 and a 52-week high of $60.46. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05. The firm has a market capitalization of $84.88 billion, a price-to-earnings ratio of 27.63, a P/E/G ratio of 3.27 and a beta of 0.76.

SLB (NYSE:SLB) last announced its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $8.67 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts forecast that SLB Limited will post 2.5 EPS for the current year.

SLB Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 annualized dividend and a yield of 2.1%. SLB’s dividend payout ratio is 57.00%.

About SLB

SLB, formerly known as Schlumberger Limited, is a global technology and services company serving the energy industry. The company provides equipment, technology and technical expertise that help oil and gas producers locate, drill, complete and operate wells, as well as manage reservoirs and production assets.

Its offerings include seismic and subsurface evaluation, drilling and well-construction services, well completion and stimulation, artificial lift, production optimization, intervention services, subsea production systems and digital solutions.