Y Intercept Hong Kong Ltd Buys New Holdings in SLB Limited $SLB

Key Points

• Y Intercept Hong Kong acquired 162,397 shares of SLB in the second quarter, valued at approximately $7.55 million. Institutional investors and hedge funds 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, despite one downgrade to “Strong Sell.”
• SLB reported quarterly EPS of $0.55, beating 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 2.2% annualized yield.

Y Intercept Hong Kong Ltd purchased a new position in SLB Limited (NYSE:SLB - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 162,397 shares of the oil and gas company's stock, valued at approximately $7,550,000.

A number of other hedge funds have also recently added to or reduced their stakes in SLB. Evergreen Advisors LLC bought a new stake in SLB during the 1st quarter valued at $26,000. Costello Asset Management INC lifted its stake in shares of SLB by 93.3% in the first 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 in the last quarter. Arlington Trust Co LLC lifted its stake in shares of SLB by 66.5% in the second quarter. Arlington Trust Co LLC now owns 701 shares of the oil and gas company's stock valued at $33,000 after buying an additional 280 shares in the last quarter. MV Capital Management Inc. acquired a new position in shares of SLB during the fourth quarter valued at about $28,000. Finally, Sound Income Strategies LLC increased its position in shares of SLB by 71.1% during the first quarter. Sound Income Strategies LLC now owns 780 shares of the oil and gas company's stock worth $39,000 after acquiring an additional 324 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Analysts Set New Price Targets

SLB has been the topic of a number of analyst reports. Raymond James Financial lowered their target price on shares of SLB from $62.00 to $61.00 and set an "outperform" rating on the stock in a report on Friday, July 10th. Evercore reissued an "outperform" rating and set a $66.00 price objective on shares of SLB in a report on Monday, July 27th. Royal Bank Of Canada reissued an "outperform" rating and issued a $61.00 price objective on shares of SLB in a research note on Tuesday, June 16th. Zacks Research lowered SLB from a "hold" rating to a "strong sell" rating in a report on Monday, July 27th. Finally, Piper Sandler lifted their target price on SLB from $59.00 to $64.00 and gave the company an "overweight" rating in a research report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $61.35.

SLB Stock Down 1.9%

SLB stock opened at $52.66 on Thursday. 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. The firm's 50-day simple moving average is $49.67 and its 200 day simple moving average is $51.04. The stock has a market cap of $78.15 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 3.54 and a beta of 0.73.

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

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 2nd. SLB's dividend payout ratio (DPR) 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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