NEOS Investment Management LLC Buys 27,515 Shares of SLB Limited $SLB

Key Points

• NEOS Investment Management increased its SLB stake by 12.8%, purchasing 27,515 additional shares to own 243,304 shares valued at approximately $11.3 million. Institutional investors collectively own 81.99% of the company.
• Analysts maintain a generally positive outlook, with SLB receiving a consensus “Moderate Buy” rating and an average price target of $61.35, above its reported $57.45 share price.
• SLB reported quarterly earnings of $0.55 per share, exceeding estimates, while revenue rose 5% year over year to $8.97 billion. The company also declared a quarterly dividend of $0.295 per share, representing a 2.1% annualized yield.

NEOS Investment Management LLC boosted its stake in shares of SLB Limited (NYSE:SLB - Free Report) by 12.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 243,304 shares of the oil and gas company's stock after purchasing an additional 27,515 shares during the quarter. NEOS Investment Management LLC's holdings in SLB were worth $11,311,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Evergreen Advisors LLC bought a new stake in SLB during the first quarter valued at about $26,000. MV Capital Management Inc. bought a new stake in SLB during the 4th quarter valued at approximately $28,000. Strategic Wealth Advisors LLC acquired a new stake in SLB in the 4th quarter valued at approximately $30,000. Costello Asset Management INC grew its holdings in SLB by 93.3% in the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company's stock valued at $30,000 after buying an additional 280 shares during the last quarter. Finally, Lloyd Advisory Services LLC. bought a new position in SLB in the 4th quarter worth approximately $31,000. Institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Zacks Research upgraded SLB from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 25th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of SLB in a research report on Monday, August 3rd. Barclays upped their target price on shares of SLB from $64.00 to $67.00 and gave the company an "overweight" rating in a research note on Monday, July 27th. Stifel Nicolaus raised their price target on shares of SLB from $61.00 to $64.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. Finally, Jefferies Financial Group restated a "buy" rating and set a $66.00 price objective on shares of SLB in a report on Sunday, July 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $61.35.

SLB Trading Up 0.1%

SLB stock opened at $57.45 on Friday. SLB Limited has a 1-year low of $31.64 and a 1-year high of $60.46. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. The business's 50 day moving average is $50.77 and its 200-day moving average is $51.67. The firm has a market cap of $85.26 billion, a P/E ratio of 27.75, a P/E/G ratio of 3.27 and a beta of 0.76.

SLB (NYSE:SLB - Get Free Report) last posted its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. SLB had a return on equity of 14.05% and a net margin of 8.53%.The business had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same quarter last year, the company earned $0.74 EPS. SLB's revenue was up 5.0% on a year-over-year basis. Equities analysts anticipate that SLB Limited will post 2.5 earnings per share for the current fiscal year.

SLB Announces Dividend

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

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.

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SLB Limited (NYSE:SLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source