Jones Financial Companies Lllp Purchases 53,771 Shares of SLB Limited $SLB

Key Points

• Jones Financial Companies increased its SLB stake by 11.4% in the second quarter, purchasing 53,771 additional shares for a total of 523,533 shares valued at approximately $24.6 million. Institutional investors collectively own 81.99% of SLB.
• SLB reported quarterly EPS of $0.55, exceeding analyst expectations of $0.51, while revenue reached $8.97 billion, up 5% year over year and above estimates.
• SLB declared a quarterly dividend of $0.295, equivalent to $1.18 annually and a 2.2% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $61.35.

Jones Financial Companies Lllp lifted its position in shares of SLB Limited (NYSE:SLB - Free Report) by 11.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 523,533 shares of the oil and gas company's stock after purchasing an additional 53,771 shares during the quarter. Jones Financial Companies Lllp's holdings in SLB were worth $24,605,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its stake in SLB by 21.4% during 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 in the last quarter. Bison Wealth LLC bought a new position in shares of SLB during the 4th quarter worth about $238,000. Marshall Wace LLP acquired a new stake in shares of SLB during the 2nd quarter valued at about $8,628,000. Nebula Research & Development LLC boosted its position in shares of 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 valued at $824,000 after acquiring an additional 10,522 shares in the last quarter. Finally, Diversify Advisory Services LLC increased its stake in SLB by 7.6% in the second quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company's stock valued at $373,000 after acquiring an additional 799 shares during the period. 81.99% of the stock is currently owned by institutional investors.

SLB Stock Up 0.2%

Shares of SLB opened at $53.99 on Tuesday. The business's fifty day moving average price is $49.30 and its two-hundred day moving average price is $51.29. The firm has a market capitalization of $80.14 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 3.55 and a beta of 0.73. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. 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 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. The business had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.The firm's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 earnings per share. On average, analysts predict that SLB Limited will post 2.5 earnings per share for the current year.

SLB Announces Dividend

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 of this dividend 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 (DPR) is presently 57.00%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SLB. BMO Capital Markets raised 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. Barclays upped their price objective on SLB from $64.00 to $67.00 and gave the company an "overweight" rating in a research note on Monday, July 27th. Weiss Ratings restated a "hold (c)" rating on shares of SLB in a research report on Monday, August 3rd. Sanford C. Bernstein boosted their price target on SLB from $56.10 to $71.00 and gave the company an "outperform" rating in a research note on Monday, May 11th. Finally, Citigroup dropped their price objective on SLB from $68.00 to $63.00 and set a "buy" rating for the company in a research note on Wednesday, July 1st. Two equities research 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's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $61.35.

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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