Quantinno Capital Management LP Raises Position in SLB Limited $SLB

Key Points

• Quantinno Capital Management increased its SLB position by 38.6% in the first quarter, adding 204,009 shares to hold 733,174 shares worth approximately $37.7 million. Institutional investors collectively own 81.99% of SLB.
• SLB exceeded quarterly expectations, reporting EPS of $0.55 versus $0.51 expected and revenue of $8.97 billion versus $8.67 billion forecast; revenue rose 5% year over year.
• SLB declared a quarterly dividend of $0.295, equivalent to a 2.4% annualized yield. Analysts maintain a broadly positive outlook, with a “Moderate Buy” consensus and an average price target of $61.35, though Zacks downgraded the stock to “Strong Sell.”

Quantinno Capital Management LP grew its holdings in SLB Limited (NYSE:SLB - Free Report) by 38.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 733,174 shares of the oil and gas company's stock after acquiring an additional 204,009 shares during the period. Quantinno Capital Management LP's holdings in SLB were worth $37,678,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Clough Capital Partners L P acquired a new position in SLB during the 1st quarter worth $18,257,000. Gateway Wealth Partners LLC raised its position in SLB by 229.2% in the 1st quarter. Gateway Wealth Partners LLC now owns 22,705 shares of the oil and gas company's stock valued at $1,167,000 after purchasing an additional 15,809 shares in the last quarter. Turim 21 Investimentos Ltda. purchased a new position in shares of SLB in the 1st quarter valued at about $192,000. Weiss Asset Management LP purchased a new position in shares of SLB in the 1st quarter valued at about $1,085,000. Finally, Cypress Capital Group grew its position in shares of SLB by 1.9% during the first quarter. Cypress Capital Group now owns 12,308 shares of the oil and gas company's stock worth $633,000 after buying an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

SLB Price Performance

Shares of NYSE SLB opened at $48.91 on Friday. The stock's 50-day simple moving average is $50.58 and its 200-day simple moving average is $50.77. The firm has a market capitalization of $73.12 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 3.25 and a beta of 0.72. SLB Limited has a fifty-two week low of $31.64 and a fifty-two 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 announced its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. The firm had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.The firm's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 earnings per share. As a group, equities research analysts forecast that SLB Limited will post 2.49 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be issued a $0.295 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.18 annualized dividend and a dividend yield of 2.4%. SLB's dividend payout ratio is presently 57.00%.

Insider Activity at SLB

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the transaction, the director directly owned 16,953 shares of the company's stock, valued at $921,056.49. This trade represents a 10.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings lowered shares of SLB from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Piper Sandler lifted their price target on shares of SLB from $59.00 to $64.00 and gave the stock an "overweight" rating in a research note on Monday. Citigroup lowered their price target on shares of SLB from $68.00 to $63.00 and set a "buy" rating for the company in a report on Wednesday, July 1st. BMO Capital Markets raised their price objective on shares of SLB from $59.00 to $63.00 and gave the company an "outperform" rating in a report on Monday. Finally, Evercore restated an "outperform" rating and issued a $66.00 price objective on shares of SLB in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, SLB has an average rating of "Moderate Buy" and an average target price of $61.35.

Key Stories Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB’s second-quarter earnings and revenue exceeded expectations, with EPS of $0.55 versus the $0.51 consensus and revenue of $8.97 billion versus $8.67 billion expected. Revenue increased 5% year over year, renewing interest in the oilfield-services provider and energy ETFs with significant SLB exposure, including IEZ, OIH and XLE. How SLB’s Q2 Earnings Impact Energy ETFs
• Positive Sentiment: BMO Capital Markets raised its SLB price target to $63, while a Morgan Stanley analyst also expects the stock to rise. Analysts broadly remain optimistic after SLB outperformed the broader market over the past year. BMO Raises SLB Price Target Morgan Stanley’s SLB Outlook Wall Street Analysts’ View of SLB
• Neutral Sentiment: SLB has attracted unusually high investor attention, but the coverage does not identify a specific new fundamental catalyst beyond its earnings performance and analyst outlook. SLB Investor Attention
• Neutral Sentiment: Despite a roughly 93% five-year return, a discounted-cash-flow analysis indicates potential value above the current share price. However, the valuation depends on continued growth in energy services and SLB’s data-center infrastructure initiatives. SLB Valuation Analysis
• Negative Sentiment: Zacks Research downgraded SLB from “hold” to “strong sell,” creating a notable bearish counterpoint to the otherwise favorable analyst consensus. Zacks Downgrade Report

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.

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.