Union Bancaire Privee UBP SA Purchases 69,839 Shares of SLB Limited $SLB

Key Points

• Union Bancaire Privee UBP SA increased its SLB stake by 736.2% in the second quarter, purchasing 69,839 additional shares for a total holding valued at approximately $3.52 billion. Institutional investors collectively own 81.99% of SLB.
• Analyst sentiment remains broadly positive, with SLB carrying a “Moderate Buy” consensus rating and an average price target of $61.35, despite ratings ranging from “Strong Sell” to “Outperform.”
• SLB beat quarterly earnings and revenue expectations, reporting adjusted EPS of $0.55 and revenue of $8.97 billion. The company also declared a quarterly dividend of $0.295 per share, representing a 2.3% annualized yield.

Union Bancaire Privee UBP SA increased its holdings in shares of SLB Limited (NYSE:SLB - Free Report) by 736.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,325 shares of the oil and gas company's stock after buying an additional 69,839 shares during the quarter. Union Bancaire Privee UBP SA's holdings in SLB were worth $3,517,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Evergreen Advisors LLC bought a new stake in shares of SLB in the first quarter worth about $26,000. MV Capital Management Inc. acquired a new stake in shares of SLB during the fourth quarter worth about $28,000. Strategic Wealth Advisors LLC bought a new position in shares of SLB during the 4th quarter valued at about $30,000. Costello Asset Management INC lifted its holdings in shares of SLB by 93.3% during the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 280 shares in the last quarter. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of SLB in the 4th quarter valued at approximately $31,000. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SLB shares. Zacks Research cut SLB from a "hold" rating to a "strong sell" rating in a research note on Monday, July 27th. Evercore reaffirmed an "outperform" rating and issued a $66.00 price target on shares of SLB in a research note on Monday, July 27th. Raymond James Financial lowered their price objective on shares of SLB from $62.00 to $61.00 and set an "outperform" rating for the company in a research report on Friday, July 10th. JPMorgan Chase & Co. raised their price objective on shares of SLB from $54.00 to $61.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of SLB in a research report on Monday, August 3rd. Two 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 given a Sell rating to the company's stock. According to data from MarketBeat, SLB has an average rating of "Moderate Buy" and an average price target of $61.35.

SLB Stock Down 1.2%

Shares of SLB stock opened at $51.99 on Friday. The firm has a market cap of $77.16 billion, a PE ratio of 25.12, a P/E/G ratio of 3.47 and a beta of 0.73. The business's 50 day simple moving average is $49.54 and its 200 day simple moving average is $51.07. 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 Limited has a 52-week low of $31.64 and a 52-week high of $58.82.

SLB (NYSE:SLB - Get Free Report) last posted its quarterly earnings data 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. SLB had a net margin of 8.53% and a return on equity of 14.05%. The company had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same period last year, the company earned $0.74 earnings per share. The firm's revenue was up 5.0% compared to the same quarter last year. On average, analysts predict 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 issued a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB's dividend payout ratio is presently 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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