Vanguard Group Inc. Raises Stock Holdings in SLB Limited $SLB

Vanguard Group Inc. boosted its holdings in SLB Limited (NYSE:SLBFree Report) by 0.6% during the 4th quarter, Holdings Channel reports. The firm owned 186,455,878 shares of the oil and gas company’s stock after acquiring an additional 1,080,999 shares during the period. Vanguard Group Inc. owned approximately 0.12% of SLB worth $7,156,177,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in SLB by 21.4% during the fourth 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 SLB in the fourth quarter valued at about $238,000. Marshall Wace LLP bought a new position in shares of SLB during the 2nd quarter valued at approximately $8,628,000. Nebula Research & Development LLC grew its position in shares of SLB by 76.0% during the 2nd quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company’s stock valued at $824,000 after acquiring an additional 10,522 shares during the period. Finally, Diversify Advisory Services LLC increased its stake in shares of SLB by 7.6% during the 2nd quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company’s stock worth $373,000 after purchasing an additional 799 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

SLB News Summary

Here are the key news stories impacting SLB this week:

SLB Stock Up 0.1%

Shares of NYSE SLB opened at $56.20 on Monday. SLB Limited has a 52 week low of $31.64 and a 52 week high of $56.90. The business has a 50-day simple moving average of $50.27 and a two-hundred day simple moving average of $43.79. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The company has a market cap of $84.44 billion, a P/E ratio of 24.54, a P/E/G ratio of 3.85 and a beta of 0.69.

SLB (NYSE:SLBGet Free Report) last announced its quarterly earnings results on Friday, April 24th. The oil and gas company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.76 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. Research analysts anticipate that SLB Limited will post 2.67 earnings per share for the current fiscal year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a yield of 2.1%. SLB’s payout ratio is currently 51.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $65.00 price target on shares of SLB in a report on Sunday. Sanford C. Bernstein increased their price objective on SLB from $52.30 to $56.10 and gave the company an “outperform” rating in a report on Thursday, March 12th. Piper Sandler boosted their target price on SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Argus raised SLB to a “strong-buy” rating in a research report on Monday, January 26th. Finally, Wall Street Zen downgraded SLB from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, SLB has an average rating of “Moderate Buy” and an average target price of $54.64.

Get Our Latest Analysis on SLB

SLB Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SLB Limited (NYSE:SLBFree Report).

Institutional Ownership by Quarter for SLB (NYSE:SLB)

Receive News & Ratings for SLB Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SLB and related companies with MarketBeat.com's FREE daily email newsletter.