Boothe Investment Group Inc. Sells 35,682 Shares of SLB Limited $SLB

Key Points

• Boothe Investment Group cut its SLB position by 22.5% in the second quarter, selling 35,682 shares and retaining 123,068 shares valued at approximately $5.72 million.
• SLB reported quarterly EPS of $0.55, surpassing the $0.51 consensus estimate, while revenue rose 5% year over year to $8.97 billion. The company also declared a quarterly dividend of $0.295 per share, yielding about 2.2% annually.
• Analysts remain broadly positive, with SLB receiving a “Moderate Buy” consensus rating and an average price target of $61.35, compared with its reported opening price of $52.66.

Boothe Investment Group Inc. trimmed its holdings in SLB Limited (NYSE:SLB - Free Report) by 22.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 123,068 shares of the oil and gas company's stock after selling 35,682 shares during the period. SLB comprises about 1.8% of Boothe Investment Group Inc.'s investment portfolio, making the stock its 21st largest holding. Boothe Investment Group Inc.'s holdings in SLB were worth $5,721,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Brighton Jones LLC lifted its holdings in shares of SLB by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock valued at $253,000 after purchasing an additional 1,166 shares in the last quarter. Bison Wealth LLC bought a new stake in SLB during the 4th quarter worth approximately $238,000. Marshall Wace LLP bought a new stake in SLB during the 2nd quarter worth approximately $8,628,000. Nebula Research & Development LLC raised its holdings in SLB by 76.0% during the 2nd quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company's stock worth $824,000 after buying an additional 10,522 shares during the period. Finally, Diversify Advisory Services LLC raised its holdings in SLB by 7.6% during the 2nd quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company's stock worth $373,000 after buying an additional 799 shares during the period. 81.99% of the stock is currently owned by institutional investors.

SLB Stock Performance

Shares of SLB opened at $52.66 on Thursday. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The firm has a fifty day simple moving average of $49.67 and a 200 day simple moving average of $51.04. The stock has a market capitalization of $78.15 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 3.54 and a beta of 0.73. 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 (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. SLB had a net margin of 8.53% and a return on equity of 14.05%. The firm had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same period in the previous year, the business earned $0.74 EPS. The company's revenue was up 5.0% compared to the same quarter last year. Research analysts forecast that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SLB shares. BMO Capital Markets upped their price target on shares of SLB from $59.00 to $63.00 and gave the company an "outperform" rating in a report on Monday, July 27th. Susquehanna raised their price objective on shares of SLB from $55.00 to $62.00 and gave the stock a "positive" rating in a report on Monday, July 27th. Wolfe Research initiated coverage on shares of SLB in a research report on Wednesday, July 8th. They issued an "outperform" rating and a $62.00 price objective on the stock. Evercore reaffirmed an "outperform" rating and issued a $66.00 target price on shares of SLB in a research note on Monday, July 27th. Finally, Raymond James Financial dropped their price target on SLB from $62.00 to $61.00 and set an "outperform" rating on the stock in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, SLB currently has an average rating of "Moderate Buy" and an average 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.

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