57,503 Shares in SLB Limited $SLB Bought by SGL Investment Advisors Inc.

Key Points

• SGL Investment Advisors acquired 57,503 SLB shares worth approximately $2.67 million, while institutional investors collectively own 81.99% of the company.
• SLB exceeded quarterly expectations, reporting $0.55 in EPS and $8.97 billion in revenue; revenue increased 5% year over year. Analysts expect $2.50 in full-year EPS.
• SLB declared a quarterly dividend of $0.295 per share, equivalent to an annualized $1.18 payout and a 2.2% yield. The stock traded at $53.71, while analysts maintained a “Moderate Buy” consensus with a $61.35 average price target.

SGL Investment Advisors Inc. acquired a new stake in shares of SLB Limited (NYSE:SLB - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 57,503 shares of the oil and gas company's stock, valued at approximately $2,673,000.

A number of other institutional investors and hedge funds have also modified their holdings of SLB. Bank of America Corp DE raised its position in shares of SLB by 11.1% during the 1st quarter. Bank of America Corp DE now owns 10,536,104 shares of the oil and gas company's stock valued at $541,450,000 after buying an additional 1,052,239 shares during the period. Fearnley Asset Management AS acquired a new stake in SLB during the fourth quarter worth $8,574,000. Vaughan Nelson Investment Management L.P. purchased a new stake in SLB in the first quarter valued at $47,528,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of SLB by 4.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company's stock worth $126,303,000 after purchasing an additional 128,660 shares during the period. Finally, Cibc World Market Inc. increased its position in shares of SLB by 48.7% during the 4th quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company's stock worth $52,468,000 after purchasing an additional 447,667 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

SLB Trading Up 0.3%

SLB opened at $53.71 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. The business's 50-day simple moving average is $49.34 and its 200-day simple moving average is $51.22. The company has a market cap of $79.71 billion, a P/E ratio of 25.95, a PEG ratio of 3.53 and a beta of 0.73. SLB Limited has a one year low of $31.64 and a one year high of $58.82.

SLB (NYSE:SLB - Get Free Report) last announced its earnings results 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. The business had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. As a group, equities research analysts expect that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

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

Key Headlines Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: Venezuela expansion could add meaningful work. SLB is preparing to restart as many as 15 oil rigs in Venezuela and is working with Formentera Partners to reactivate existing equipment or bring in additional rigs. Venezuela also signed agreements with SLB and other companies aimed at increasing oil production, potentially creating new drilling and well-services revenue. SLB Prepares to Restart 15 Oil Rigs in Venezuela SLB, Formentera working to activate drilling rigs in Venezuela Venezuela Signs Deals With SLB and Hunt
• Positive Sentiment: New offshore work in Brunei adds backlog visibility. Shell selected SLB for a production-restoration project offshore Brunei, providing another international contract and reinforcing demand for SLB’s technical services. Shell Taps SLB for Production Restarts offshore Brunei
• Positive Sentiment: Industry spending trends remain supportive. Commentary on rising upstream capital spending and SLB’s EnerCom presentation highlights the potential for increased customer activity, particularly in international and offshore markets. This supports the company’s longer-term revenue outlook. What Could Rising Upstream Spending Mean for SLB SLB Presents at the EnerCom Energy Investment Conference
• Neutral Sentiment: Risks temper the bullish impact. Venezuela projects may face sanctions, operational, payment and political risks, while higher long-term Treasury yields could pressure income-oriented stocks and raise financing costs across the energy sector. Dividend Stocks and Rising Treasury Yields

Wall Street Analyst Weigh In

SLB has been the subject of a number of research analyst reports. Sanford C. Bernstein increased their price objective on shares of SLB from $56.10 to $71.00 and gave the stock an "outperform" rating in a research report on Monday, May 11th. Weiss Ratings restated a "hold (c)" rating on shares of SLB in a report on Monday, August 3rd. BMO Capital Markets boosted their price target on shares of SLB from $59.00 to $63.00 and gave the stock an "outperform" rating in a research note on Monday, July 27th. Jefferies Financial Group reissued a "buy" rating and set a $66.00 price target on shares of SLB in a research report on Sunday, July 26th. Finally, Raymond James Financial lowered their price objective on shares of SLB from $62.00 to $61.00 and set an "outperform" rating for the company in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, SLB currently has an average rating of "Moderate Buy" and an average price target of $61.35.

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.

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