SLB Limited $SLB Shares Newly Purchased by Vertrix Wealth Management LLC

Vertrix Wealth Management LLC bought a new stake in shares of SLB Limited (NYSE:SLB) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 59,874 shares of the oil and gas company’s stock, valued at approximately $2,917,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp purchased a new stake in SLB in the second quarter worth approximately $1,339,567,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of SLB by 6,358.2% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,134,731 shares of the oil and gas company’s stock worth $471,164,000 after acquiring an additional 9,977,804 shares during the last quarter. Cardano Risk Management B.V. bought a new stake in SLB in the 2nd quarter worth approximately $185,474,000. Canoe Financial LP raised its position in shares of SLB by 82.3% during the 2nd quarter. Canoe Financial LP now owns 7,730,966 shares of the oil and gas company’s stock valued at $358,936,000 after buying an additional 3,489,344 shares in the last quarter. Finally, Employees Provident Fund Board bought a new stake in shares of SLB in the 4th quarter worth about $107,351,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Trading Down 0.4%

Shares of SLB opened at $48.73 on Tuesday. SLB Limited has a 52-week low of $31.64 and a 52-week high of $60.46. The stock has a market cap of $72.33 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 2.68 and a beta of 0.83. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average is $52.97 and its two-hundred day moving average is $52.25.

SLB (NYSE:SLB) last released its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The company had revenue of $8.97 billion for 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%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. Research analysts forecast that SLB Limited will post 2.49 earnings per share for the current fiscal year.

SLB Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd were given a $0.2950 dividend. This represents a $1.18 annualized dividend and a yield of 2.4%. The ex-dividend date was Wednesday, September 2nd. SLB’s dividend payout ratio is presently 57.00%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SLB. Morgan Stanley lifted their target price on SLB from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Royal Bank Of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of SLB in a report on Tuesday, June 16th. UBS Group increased their price objective on shares of SLB from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, September 14th. Wolfe Research started coverage on SLB in a research note on Wednesday, July 8th. They set an “outperform” rating and a $62.00 price target on the stock. Finally, Barclays raised their target price on shares of SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Twenty-four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, SLB has a consensus rating of “Moderate Buy” and an average target price of $62.38.

SLB Profile

SLB, formerly known as Schlumberger, is a global technology and services company serving the energy industry. The company provides equipment, technology, and technical expertise used to evaluate underground reservoirs, drill and complete wells, and optimize oil and natural gas production.

Its offerings include seismic and subsurface evaluation, well construction and drilling services, well completions, production systems, reservoir management, artificial lift, and related software and digital solutions.