Clifford Swan Investment Counsel LLC Reduces Stock Position in SLB Limited $SLB

Clifford Swan Investment Counsel LLC cut its holdings in SLB Limited (NYSE:SLB) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 541,677 shares of the oil and gas company’s stock after selling 14,482 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in SLB were worth $25,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Quantitative Investment Management LLC bought a new position in SLB during the 2nd quarter valued at approximately $3,747,000. Moore Capital Management LP bought a new stake in shares of SLB in the 2nd quarter worth approximately $8,857,000. Benjamin Edwards Inc. increased its stake in shares of SLB by 11.1% during the second quarter. Benjamin Edwards Inc. now owns 43,876 shares of the oil and gas company’s stock valued at $2,040,000 after buying an additional 4,400 shares during the period. GTS Securities LLC purchased a new position in shares of SLB during the second quarter valued at approximately $931,000. Finally, Flputnam Investment Management Co. raised its holdings in shares of SLB by 3.2% during the second quarter. Flputnam Investment Management Co. now owns 47,509 shares of the oil and gas company’s stock valued at $2,209,000 after acquiring an additional 1,455 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

More SLB News

Here are the key news stories impacting SLB this week:

• Positive Sentiment: Large data-center acquisition expands SLB’s growth strategy. SLB agreed to acquire Kelvion from Apollo-managed funds and Triton for approximately $3.4 billion in cash, excluding assumed debt, or roughly $4.1 billion including about $700 million of debt. Kelvion’s cooling systems should strengthen SLB’s Data Center Solutions business and give the company greater exposure to AI-driven infrastructure spending. SLB to acquire Kelvion for $3.4 billion
• Positive Sentiment: Recent operating performance has exceeded expectations. SLB outperformed many oilfield-services peers in the completed second quarter. Its latest reported quarter included earnings and revenue above consensus, with revenue up year over year; another analysis cited sequential revenue growth, margin expansion and strong data-center performance despite Middle East-related headwinds. Q2 Earnings Outperformers: SLB and the Rest of the Oilfield Services Stocks
• Positive Sentiment: Carbon-management and technology wins support diversification. SLB was selected as reservoir partner for Norway’s Havstjerne carbon-storage project and has continued to win carbon-storage and international production-related contracts. The company also launched the ExaCT electrical downhole coiled-tubing control system, reinforcing its digital and technology portfolio. SLB Lands North Sea Carbon Role and Launches New Downhole Control System
• Neutral Sentiment: Analysts view SLB’s newer digital, subsea, carbon-management and data-center businesses as potentially creating more recurring, capital-light revenue and reducing dependence on new-well drilling. However, valuation measures are mixed: discounted-cash-flow estimates suggest upside, while earnings multiples indicate the stock is closer to fair value. SLB Stock Trades at a Discount to Fair Value
• Negative Sentiment: The Kelvion transaction is substantial and includes assumed debt, creating potential financing, integration and execution risks. Investors may also remain cautious because SLB’s latest quarterly EPS was below the prior-year period, while oilfield-services results remain exposed to geopolitical and energy-market conditions.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SLB. Barclays raised their price target on SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Citigroup decreased their price objective on shares of SLB from $68.00 to $63.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Piper Sandler lifted their target price on shares of SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Raymond James Financial reduced their price target on shares of SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. Finally, Susquehanna increased their price target on shares of SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a research note on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $61.35.

SLB Price Performance

SLB opened at $60.26 on Tuesday. 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 has a market cap of $89.43 billion, a price-to-earnings ratio of 29.11, a price-to-earnings-growth ratio of 3.78 and a beta of 0.73. The stock has a fifty day simple moving average of $49.95 and a two-hundred day simple moving average of $51.48. SLB Limited has a 12-month low of $31.64 and a 12-month high of $60.46.

SLB (NYSE:SLB) last announced its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $8.97 billion for 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 company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 EPS. Research analysts predict that SLB Limited will post 2.5 earnings per share for the current fiscal year.

SLB Announces Dividend

The firm 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 dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 annualized dividend and a yield of 2.0%. SLB’s payout ratio is presently 57.00%.

SLB Company 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.