129,129 Shares in SLB Limited $SLB Bought by Signature Estate & Investment Advisors LLC

Key Points

• Signature Estate & Investment Advisors acquired 129,129 SLB shares worth approximately $6 million, while institutional investors and hedge funds collectively own 81.99% of the company.
• Analysts remain broadly optimistic, with SLB holding a consensus “Moderate Buy” rating and an average price target of $61.35; recent targets range from $61 to $66.
• SLB exceeded quarterly expectations with $0.55 in EPS and $8.97 billion in revenue, while declaring a quarterly dividend of $0.295, equivalent to a 2.2% annualized yield.

Signature Estate & Investment Advisors LLC acquired a new stake in SLB Limited (NYSE:SLB - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 129,129 shares of the oil and gas company's stock, valued at approximately $6,003,000.

A number of other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new position in SLB during the fourth quarter worth $809,557,000. Bank of New York Mellon Corp grew its stake in SLB by 56.8% during the first quarter. Bank of New York Mellon Corp now owns 24,615,243 shares of the oil and gas company's stock worth $1,264,977,000 after buying an additional 8,918,412 shares during the last quarter. Wellington Management Group LLP increased its holdings in SLB by 50.6% during the 4th quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company's stock valued at $638,473,000 after purchasing an additional 5,589,585 shares in the last quarter. State Street Corp increased its stake in shares of SLB by 7.0% in the third quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company's stock valued at $2,898,037,000 after buying an additional 5,466,786 shares in the last quarter. Finally, Capital International Investors increased its position in SLB by 86.9% in the 4th quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company's stock valued at $446,247,000 after acquiring an additional 5,404,948 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Susquehanna boosted their target price on SLB from $55.00 to $62.00 and gave the stock a "positive" rating in a research report on Monday, July 27th. Piper Sandler increased their price target on shares of SLB from $59.00 to $64.00 and gave the company an "overweight" rating in a research report on Monday, July 27th. Royal Bank Of Canada reissued an "outperform" rating and set a $61.00 price objective on shares of SLB in a research note on Tuesday, June 16th. Evercore reissued an "outperform" rating and issued a $66.00 target price on shares of SLB in a research note on Monday, July 27th. Finally, Citigroup lowered their price objective 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. Two 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $61.35.

SLB Stock Down 1.9%

SLB stock opened at $52.66 on Thursday. The company has a market cap of $78.15 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 3.54 and a beta of 0.73. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82. The business has a 50 day moving average price of $49.67 and a two-hundred day moving average price of $51.04. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41.

SLB (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $8.67 billion. During the same quarter in the prior year, the business posted $0.74 EPS. The business's revenue was up 5.0% compared to the same quarter last year. Analysts anticipate that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Wednesday, September 2nd will be paid a $0.295 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.18 annualized dividend and a yield of 2.2%. SLB's dividend payout ratio is currently 57.00%.

SLB 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.

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