Integrated Wealth Concepts LLC Has $7.73 Million Stock Position in SLB Limited $SLB

Key Points

• Integrated Wealth Concepts LLC increased its SLB position by 47.1% in the second quarter, bringing its holdings to 166,307 shares valued at approximately $7.73 million. Institutional investors collectively own 81.99% of the company.
• Wall Street remains broadly positive on SLB, with an overall “Moderate Buy” rating and an average price target of $61.65, above the reported $55.99 share price.
• SLB exceeded quarterly expectations with adjusted earnings of $0.55 per share and revenue of $8.97 billion, while revenue rose 5% year over year. The company also declared a quarterly dividend of $0.295 per share, representing a 2.1% annualized yield.

Integrated Wealth Concepts LLC increased its position in shares of SLB Limited (NYSE:SLB - Free Report) by 47.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,307 shares of the oil and gas company's stock after acquiring an additional 53,259 shares during the quarter. Integrated Wealth Concepts LLC's holdings in SLB were worth $7,732,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of SLB by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock worth $253,000 after buying an additional 1,166 shares during the period. Bison Wealth LLC acquired a new position in SLB during the fourth quarter valued at $238,000. Marshall Wace LLP purchased a new stake in SLB in the 2nd quarter worth about $8,628,000. Nebula Research & Development LLC lifted its stake in SLB by 76.0% in the 2nd quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company's stock worth $824,000 after acquiring an additional 10,522 shares in the last quarter. Finally, Diversify Advisory Services LLC boosted its position 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 acquiring an additional 799 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of several research analyst reports. Evercore reaffirmed an "outperform" rating and set a $66.00 target price on shares of SLB in a research note on Monday, July 27th. Raymond James Financial decreased their price target on shares of SLB from $62.00 to $61.00 and set an "outperform" rating for the company in a report on Friday, July 10th. UBS Group upped their price objective on shares of SLB from $66.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday. BMO Capital Markets reiterated an "outperform" rating on shares of SLB in a research report on Tuesday, September 1st. Finally, Morgan Stanley lifted their target price on shares of SLB from $54.00 to $55.00 and gave the company an "overweight" rating in a research note on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, SLB currently has an average rating of "Moderate Buy" and an average target price of $61.65.

SLB Trading Down 1.9%

NYSE:SLB opened at $55.99 on Friday. The stock's 50 day moving average price is $51.67 and its 200 day moving average price is $51.84. SLB Limited has a 52 week low of $31.64 and a 52 week high of $60.46. The company has a market capitalization of $83.09 billion, a P/E ratio of 27.05, a P/E/G ratio of 3.24 and a beta of 0.76. 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 (NYSE:SLB - Get Free Report) last issued its quarterly earnings data 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. The firm 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 earnings per share. On average, research analysts forecast that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Wednesday, September 2nd will be issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, September 2nd. SLB's dividend payout ratio (DPR) is 57.00%.

SLB Profile

SLB, formerly known as Schlumberger Limited, is a global technology and services company serving the energy industry. The company provides equipment, technology and technical expertise that help oil and gas producers locate, drill, complete and operate wells, as well as manage reservoirs and production assets.

Its offerings include seismic and subsurface evaluation, drilling and well-construction services, well completion and stimulation, artificial lift, production optimization, intervention services, subsea production systems and digital solutions.

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