Tejara Capital Ltd Reduces Stock Position in SLB Limited $SLB

Key Points

• Tejara Capital reduced its SLB position by 78.9% in the second quarter, selling 80,200 shares and retaining 21,400 shares valued at approximately $995,000. Institutional investors collectively own about 82% of the company.
• SLB reported quarterly revenue of $8.97 billion and earnings of $0.55 per share, exceeding analyst expectations, although year-over-year EPS declined from $0.74. The company also declared a quarterly dividend of $0.295, representing a 2.2% annualized yield.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $61.35 versus its recent $53.71 price.

Tejara Capital Ltd cut its holdings in SLB Limited (NYSE:SLB - Free Report) by 78.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,400 shares of the oil and gas company's stock after selling 80,200 shares during the quarter. Tejara Capital Ltd's holdings in SLB were worth $995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC grew its position in shares of SLB by 21.4% in the 4th 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 during the last quarter. Bison Wealth LLC purchased a new position in shares of SLB during the fourth quarter valued at approximately $238,000. Marshall Wace LLP bought a new position in shares of SLB during the second quarter valued at approximately $8,628,000. Nebula Research & Development LLC lifted its stake in SLB by 76.0% in the second quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company's stock worth $824,000 after acquiring an additional 10,522 shares during the period. Finally, Diversify Advisory Services LLC lifted 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 worth $373,000 after acquiring an additional 799 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

SLB Stock Performance

Shares of SLB opened at $53.71 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The company has a market cap of $79.71 billion, a price-to-earnings ratio of 25.95, a P/E/G ratio of 3.53 and a beta of 0.73. The business's fifty day simple moving average is $49.34 and its two-hundred day simple moving average is $51.22.

SLB (NYSE:SLB - Get Free Report) last issued its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $8.67 billion. During the same quarter in the previous year, the firm earned $0.74 EPS. SLB's revenue was up 5.0% on a year-over-year basis. Research analysts anticipate that SLB Limited will post 2.5 earnings per share for the current fiscal year.

SLB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be issued a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. SLB's payout ratio is presently 57.00%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. BMO Capital Markets upped their price objective on shares of SLB from $59.00 to $63.00 and gave the stock an "outperform" rating in a report on Monday, July 27th. UBS Group cut their target price on shares of SLB from $69.00 to $66.00 and set a "buy" rating on the stock in a research note on Wednesday, July 1st. Piper Sandler boosted their price target on shares of SLB from $59.00 to $64.00 and gave the company an "overweight" rating in a research report on Monday, July 27th. Susquehanna increased their price target on shares of SLB from $55.00 to $62.00 and gave the stock a "positive" rating in a research note on Monday, July 27th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $61.00 price target on shares of SLB in a research report on Tuesday, June 16th. Two 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.35.

SLB News Summary

Here are the key news stories impacting SLB this week:

• Positive Sentiment: Venezuela expansion could add meaningful work. SLB is preparing to restart as many as 15 oil rigs in Venezuela and is working with Formentera Partners to reactivate existing equipment or bring in additional rigs. Venezuela also signed agreements with SLB and other companies aimed at increasing oil production, potentially creating new drilling and well-services revenue. SLB Prepares to Restart 15 Oil Rigs in Venezuela SLB, Formentera working to activate drilling rigs in Venezuela Venezuela Signs Deals With SLB and Hunt
• Positive Sentiment: New offshore work in Brunei adds backlog visibility. Shell selected SLB for a production-restoration project offshore Brunei, providing another international contract and reinforcing demand for SLB’s technical services. Shell Taps SLB for Production Restarts offshore Brunei
• Positive Sentiment: Industry spending trends remain supportive. Commentary on rising upstream capital spending and SLB’s EnerCom presentation highlights the potential for increased customer activity, particularly in international and offshore markets. This supports the company’s longer-term revenue outlook. What Could Rising Upstream Spending Mean for SLB SLB Presents at the EnerCom Energy Investment Conference
• Neutral Sentiment: Risks temper the bullish impact. Venezuela projects may face sanctions, operational, payment and political risks, while higher long-term Treasury yields could pressure income-oriented stocks and raise financing costs across the energy sector. Dividend Stocks and Rising Treasury Yields

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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