NEOS Investment Management LLC Has $11.31 Million Stock Holdings in SLB Limited $SLB

NEOS Investment Management LLC lifted its stake in shares of SLB Limited (NYSE:SLB) by 12.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 243,304 shares of the oil and gas company’s stock after purchasing an additional 27,515 shares during the period. NEOS Investment Management LLC’s holdings in SLB were worth $11,311,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SLB. iSAM Funds UK Ltd acquired a new position in SLB during the 2nd quarter worth $284,000. Nykredit A S acquired a new position in shares of SLB during the second quarter valued at $28,079,000. Nan Shan Life Insurance Co. Ltd. lifted its stake in shares of SLB by 513.8% during the second quarter. Nan Shan Life Insurance Co. Ltd. now owns 736,544 shares of the oil and gas company’s stock valued at $34,242,000 after acquiring an additional 616,544 shares during the period. Independence Bank of Kentucky boosted its holdings in SLB by 15.8% in the second quarter. Independence Bank of Kentucky now owns 10,629 shares of the oil and gas company’s stock valued at $494,000 after acquiring an additional 1,449 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in SLB in the second quarter valued at about $249,000. 81.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SLB has been the subject of several recent research reports. Sanford C. Bernstein reissued an “outperform” rating on shares of SLB in a report on Tuesday. Zacks Research raised shares of SLB from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Citigroup lowered their price target on shares of SLB from $68.00 to $63.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Susquehanna boosted their price target on shares of SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a research note on Monday, July 27th. Finally, Evercore restated an “outperform” rating and issued a $66.00 price objective on shares of SLB in a report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.35.

SLB Trading Up 0.1%

NYSE SLB opened at $57.45 on Friday. The stock has a 50-day simple moving average of $50.77 and a 200 day simple moving average of $51.67. The company has a market capitalization of $85.26 billion, a PE ratio of 27.75, a P/E/G ratio of 3.27 and a beta of 0.76. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. SLB Limited has a 12 month low of $31.64 and a 12 month high of $60.46.

SLB (NYSE:SLB) last released its 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. SLB had a return on equity of 14.05% and a net margin of 8.53%.The firm had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. 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. Investors of record on Wednesday, September 2nd will be given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio (DPR) is currently 57.00%.

About SLB

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.