SLB Limited $SLB Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its holdings in shares of SLB Limited (NYSE:SLB) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,644,108 shares of the oil and gas company’s stock after selling 619,341 shares during the period. Legal & General Group Plc’s holdings in SLB were worth $494,845,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Abel Hall LLC boosted its holdings in shares of SLB by 2.7% in the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock valued at $387,000 after buying an additional 198 shares during the period. E Fund Management Co. Ltd. raised its stake 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 acquiring an additional 199 shares during the period. Private Wealth Asset Management LLC lifted its holdings in SLB by 4.1% in 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 acquiring an additional 200 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in SLB by 9.3% in the first quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock worth $129,000 after acquiring an additional 214 shares during the last quarter. Finally, Ballentine Partners LLC boosted its stake in SLB by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock valued at $395,000 after acquiring an additional 218 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about SLB

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 Stock Down 1.3%

Shares of SLB stock opened at $53.31 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The business’s fifty day moving average price is $49.31 and its two-hundred day moving average price is $51.31. The company has a market capitalization of $79.12 billion, a P/E ratio of 25.75, a PEG ratio of 3.56 and a beta of 0.73.

SLB (NYSE:SLB) last issued its quarterly earnings results 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 return on equity of 14.05% and a net margin of 8.53%.The company had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same period last year, the company earned $0.74 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, research analysts forecast that SLB Limited will post 2.5 EPS for the current year.

SLB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 annualized dividend and a yield of 2.2%. SLB’s dividend payout ratio (DPR) is presently 57.00%.

Analyst Ratings Changes

Several equities analysts have recently commented on SLB shares. Citigroup lowered their target price on SLB from $68.00 to $63.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Barclays raised their price target on SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Evercore restated an “outperform” rating and set a $66.00 price objective on shares of SLB in a research note on Monday, July 27th. TD Cowen increased 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. Finally, Stifel Nicolaus raised their target price on SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.35.

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.