SLB Limited $SLB Shares Acquired by Brookstone Capital Management

Key Points

• Brookstone Capital Management increased its SLB position by 992.6% in the second quarter, acquiring 49,788 additional shares for a total holding of 54,804 shares valued at approximately $2.55 million. Institutional investors collectively own 81.99% of the company.
• Analysts remain broadly positive, with SLB carrying a “Moderate Buy” consensus rating and an average price target of $61.35; several firms recently raised their targets to between $55 and $64.
• SLB exceeded quarterly earnings and revenue expectations, reporting adjusted EPS of $0.55 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 2.2% annualized yield.

Brookstone Capital Management raised its position in shares of SLB Limited (NYSE:SLB - Free Report) by 992.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,804 shares of the oil and gas company's stock after purchasing an additional 49,788 shares during the period. Brookstone Capital Management's holdings in SLB were worth $2,548,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of SLB by 9.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 154,361 shares of the oil and gas company's stock valued at $7,127,000 after purchasing an additional 13,501 shares during the period. Signature Estate & Investment Advisors LLC bought a new stake in shares of SLB during the second quarter valued at approximately $6,003,000. Accurate Wealth Management LLC boosted its position in shares of SLB by 12.2% during the second quarter. Accurate Wealth Management LLC now owns 4,620 shares of the oil and gas company's stock worth $221,000 after buying an additional 504 shares during the period. QRG Capital Management Inc. boosted its position in shares of SLB by 29.5% during the second quarter. QRG Capital Management Inc. now owns 149,030 shares of the oil and gas company's stock worth $6,928,000 after buying an additional 33,951 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its holdings in SLB by 33.8% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 6,862 shares of the oil and gas company's stock worth $318,000 after buying an additional 1,733 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SLB shares. Wolfe Research assumed coverage on shares of SLB in a report on Wednesday, July 8th. They issued an "outperform" rating and a $62.00 price objective for the company. Stifel Nicolaus boosted 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. Weiss Ratings reaffirmed a "hold (c)" rating on shares of SLB in a research note on Monday, August 3rd. JPMorgan Chase & Co. increased their price objective on shares of SLB from $54.00 to $61.00 and gave the company an "overweight" rating in a report on Monday, April 27th. Finally, Morgan Stanley raised their price objective 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 investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, SLB presently has an average rating of "Moderate Buy" and an average price target of $61.35.

SLB Price Performance

Shares of NYSE SLB opened at $52.66 on Thursday. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82. 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 firm has a 50-day moving average of $49.67 and a two-hundred day moving average of $51.04. The company has a market capitalization of $78.15 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 3.54 and a beta of 0.73.

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

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 2nd. SLB's dividend payout ratio is 57.00%.

About SLB

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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