USA Financial Formulas Purchases Shares of 9,953 SLB Limited $SLB

USA Financial Formulas purchased a new position in shares of SLB Limited (NYSE:SLB) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,953 shares of the oil and gas company’s stock, valued at approximately $511,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in SLB by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock worth $7,156,177,000 after purchasing an additional 1,080,999 shares in the last quarter. State Street Corp increased its holdings in shares of SLB by 1.0% during the 4th quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company’s stock valued at $3,263,998,000 after purchasing an additional 799,218 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of SLB by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company’s stock valued at $2,072,844,000 after purchasing an additional 1,458,650 shares during the period. Morgan Stanley lifted its stake in shares of SLB by 1.3% in the 4th quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company’s stock valued at $1,423,716,000 after purchasing an additional 482,533 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in SLB by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock worth $1,292,993,000 after buying an additional 510,747 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Price Performance

Shares of NYSE SLB opened at $53.77 on Friday. The firm has a market cap of $79.80 billion, a PE ratio of 25.97, a PEG ratio of 3.55 and a beta of 0.73. The firm has a fifty day moving average of $49.52 and a 200 day moving average of $51.08. 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 one year low of $31.64 and a one year high of $58.82.

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

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio is 57.00%.

Wall Street Analyst Weigh In

Several research firms recently commented on SLB. Jefferies Financial Group restated a “buy” rating and set a $66.00 price target on shares of SLB in a research report on Sunday, July 26th. Stifel Nicolaus increased their target price on shares of SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Barclays raised 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. Piper Sandler lifted their price target on SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Finally, Citigroup reduced their price target on SLB from $68.00 to $63.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $61.35.

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.