162,397 Shares in SLB Limited $SLB Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new position in SLB Limited (NYSE:SLB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 162,397 shares of the oil and gas company’s stock, valued at approximately $7,550,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of SLB in the 4th quarter worth approximately $809,557,000. Bank of New York Mellon Corp increased its position in SLB by 56.8% in the first quarter. Bank of New York Mellon Corp now owns 24,615,243 shares of the oil and gas company’s stock worth $1,264,977,000 after buying an additional 8,918,412 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of SLB by 50.6% in the fourth quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company’s stock valued at $638,473,000 after buying an additional 5,589,585 shares during the period. State Street Corp lifted its position in shares of SLB by 7.0% during the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock valued at $2,898,037,000 after buying an additional 5,466,786 shares during the last quarter. Finally, Capital International Investors grew its stake in shares of SLB by 86.9% during the 4th quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock worth $446,247,000 after acquiring an additional 5,404,948 shares during the period. 81.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Piper Sandler boosted their price objective on SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Barclays raised their price target on SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Susquehanna boosted their price objective on SLB from $55.00 to $62.00 and gave the company a “positive” rating in a research note on Monday, July 27th. Jefferies Financial Group reissued a “buy” rating and set a $66.00 price objective on shares of SLB in a report on Sunday, July 26th. Finally, JPMorgan Chase & Co. upped their price target on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average 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. 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 company’s 50 day moving average is $49.67 and its 200 day moving average is $51.04. The stock has a market cap of $78.15 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 3.54 and a beta of 0.73. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82.

SLB (NYSE:SLB) last announced its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (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 business had revenue of $8.97 billion during the quarter, compared to analyst estimates of $8.67 billion. During the same period in the previous year, the business posted $0.74 earnings per share. SLB’s revenue for the quarter was up 5.0% on a year-over-year basis. Sell-side analysts predict that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

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. The ex-dividend date is Wednesday, September 2nd. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. 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.