Diversify Advisory Services LLC Makes New $2.27 Million Investment in SLB Limited $SLB

Key Points

• Diversify Advisory Services acquired 44,034 shares of SLB in the second quarter, worth approximately $2.27 million. Institutional investors collectively own 81.99% of the company.
• SLB reported quarterly earnings of $0.55 per share, exceeding analysts’ $0.51 estimate, while revenue reached $8.97 billion and rose 5% year over year.
• SLB declared a quarterly dividend of $0.295 per share, or $1.18 annually, representing a 2.2% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $61.35.

Diversify Advisory Services LLC acquired a new stake in SLB Limited (NYSE:SLB - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 44,034 shares of the oil and gas company's stock, valued at approximately $2,269,000.

Other institutional investors have also recently modified their holdings of the company. Evergreen Advisors LLC acquired a new stake in shares of SLB during the 1st quarter worth $26,000. MV Capital Management Inc. acquired a new position in SLB in the fourth quarter valued at about $28,000. Strategic Wealth Advisors LLC bought a new stake in SLB during the fourth quarter worth about $30,000. Costello Asset Management INC lifted its position in SLB by 93.3% during the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 280 shares during the period. Finally, Lloyd Advisory Services LLC. acquired a new stake in SLB during the fourth quarter worth about $31,000. 81.99% of the stock is currently owned by institutional investors.

SLB Stock Down 1.0%

Shares of NYSE:SLB opened at $53.30 on Wednesday. The company has a fifty day moving average of $49.42 and a 200-day moving average of $51.15. The company has a market capitalization of $79.10 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 3.55 and a beta of 0.73. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82.

SLB (NYSE:SLB - Get Free Report) last announced 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. The company had revenue of $8.97 billion during the quarter, compared to analysts' expectations of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.SLB's revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS. On average, equities analysts predict that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SLB shares. Zacks Research lowered shares of SLB from a "hold" rating to a "strong sell" rating in a report on Monday, July 27th. Sanford C. Bernstein upped their price target on shares of SLB from $56.10 to $71.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. Morgan Stanley increased their price target on shares of SLB from $54.00 to $55.00 and gave the stock an "overweight" rating in a research report on Monday, July 27th. Stifel Nicolaus boosted their price objective on shares of SLB from $61.00 to $64.00 and gave the company a "buy" rating in a research report on Thursday, June 18th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of SLB in a research note on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, SLB presently has an average rating of "Moderate Buy" and a consensus target price 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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