Signature Estate & Investment Advisors LLC Purchases New Shares in SLB Limited $SLB

Signature Estate & Investment Advisors LLC bought a new position in shares of SLB Limited (NYSE:SLB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 129,129 shares of the oil and gas company’s stock, valued at approximately $6,003,000.

A number of other hedge funds also recently modified their holdings of SLB. Norges Bank bought a new position in SLB in the 4th quarter valued at about $809,557,000. Bank of New York Mellon Corp raised its stake in SLB by 56.8% during 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 acquiring an additional 8,918,412 shares in the last quarter. Wellington Management Group LLP lifted its holdings 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 worth $638,473,000 after acquiring an additional 5,589,585 shares during the last quarter. State Street Corp boosted its stake in shares of SLB by 7.0% in 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 purchasing an additional 5,466,786 shares in the last quarter. Finally, Capital International Investors boosted its position in SLB by 86.9% in the fourth quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock valued at $446,247,000 after buying an additional 5,404,948 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

SLB Stock Down 1.9%

Shares of NYSE:SLB opened at $52.66 on Thursday. The company has a market capitalization 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. The business has a fifty day moving average price of $49.67 and a two-hundred day moving average price of $51.04. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05. SLB Limited has a 1 year low of $31.64 and a 1 year high of $58.82.

SLB (NYSE:SLB) last announced its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. The business had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Analysts forecast that SLB Limited will post 2.5 earnings per share for the current year.

SLB Dividend Announcement

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 paid a $0.295 dividend. 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 payout ratio is currently 57.00%.

Analyst Ratings Changes

Several analysts have recently weighed in on SLB shares. Zacks Research cut SLB from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. 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. JPMorgan Chase & Co. raised their price target on shares of SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Barclays boosted their target price on SLB from $64.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of SLB in a research report on Monday, August 3rd. 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 has an average rating of “Moderate Buy” and an average price target of $61.35.

SLB Profile

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.