MinichMacGregor Wealth Management LLC Has $6.89 Million Stock Position in SLB Limited $SLB

Key Points

• MinichMacGregor Wealth Management increased its SLB stake by 21.8% in the second quarter, holding 148,234 shares valued at approximately $6.89 million, or about 1% of its portfolio.
• Analysts remain broadly positive, with SLB receiving a consensus “Moderate Buy” rating and an average price target of $61.35, despite some differing views.
• SLB exceeded quarterly expectations, reporting $0.55 in EPS and $8.97 billion in revenue, while declaring a quarterly dividend of $0.295 per share, equivalent to a 2.3% annualized yield.

MinichMacGregor Wealth Management LLC increased its stake in shares of SLB Limited (NYSE:SLB - Free Report) by 21.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,234 shares of the oil and gas company's stock after purchasing an additional 26,534 shares during the period. SLB makes up approximately 1.0% of MinichMacGregor Wealth Management LLC's investment portfolio, making the stock its 25th largest holding. MinichMacGregor Wealth Management LLC's holdings in SLB were worth $6,891,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Abel Hall LLC grew its position in shares of SLB by 2.7% during the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company's stock worth $387,000 after buying an additional 198 shares during the period. Private Wealth Asset Management LLC raised its position in shares of SLB by 4.1% in the 4th quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company's stock valued at $193,000 after acquiring an additional 200 shares during the period. Capital Advisors Ltd. LLC boosted its stake in SLB by 9.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company's stock worth $129,000 after acquiring an additional 214 shares during the last quarter. Ballentine Partners LLC boosted its stake in SLB by 2.2% during the 4th quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company's stock worth $395,000 after acquiring an additional 218 shares during the last quarter. Finally, Davis Capital Management grew its holdings in SLB by 1.0% during the first quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company's stock valued at $1,129,000 after purchasing an additional 220 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.

Wall Street Analyst Weigh In

SLB has been the topic of several analyst reports. Citigroup cut their target price on shares of SLB from $68.00 to $63.00 and set a "buy" rating on the stock in a report on Wednesday, July 1st. BMO Capital Markets boosted 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. TD Cowen upped their price objective on shares of SLB from $62.00 to $64.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Zacks Research downgraded SLB from a "hold" rating to a "strong sell" rating in a research note on Monday, July 27th. Finally, Sanford C. Bernstein lifted their target price on SLB from $56.10 to $71.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, SLB has an average rating of "Moderate Buy" and a consensus price target of $61.35.

SLB Stock Performance

Shares of SLB opened at $51.99 on Friday. The firm has a market cap of $77.16 billion, a P/E ratio of 25.12, a PEG ratio of 3.47 and a beta of 0.73. SLB Limited has a twelve month low of $31.64 and a twelve month 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. The firm's 50 day moving average price is $49.54 and its two-hundred day moving average price is $51.07.

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 (EPS) for the quarter, topping 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 company had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The firm's revenue was up 5.0% compared to the same quarter last year. On average, analysts forecast that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Investors 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 2.3%. SLB's dividend payout ratio is presently 57.00%.

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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