SLB Limited $SLB Shares Bought by Kentucky Retirement Systems

Kentucky Retirement Systems boosted its stake in shares of SLB Limited (NYSE:SLB) by 15.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,730 shares of the oil and gas company’s stock after buying an additional 14,563 shares during the quarter. Kentucky Retirement Systems’ holdings in SLB were worth $5,588,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC lifted its holdings in shares of SLB by 4.4% in the 1st quarter. Janus Henderson Group PLC now owns 172,411 shares of the oil and gas company’s stock worth $8,863,000 after acquiring an additional 7,263 shares during the last quarter. Bull Harbor Capital LLC acquired a new stake in SLB in the 1st quarter valued at approximately $241,000. Strategic Investment Advisors MI increased its holdings in SLB by 108.3% in the 1st quarter. Strategic Investment Advisors MI now owns 24,972 shares of the oil and gas company’s stock valued at $1,283,000 after purchasing an additional 12,982 shares during the last quarter. Amundi raised its position in SLB by 14.4% in the first quarter. Amundi now owns 17,116,479 shares of the oil and gas company’s stock valued at $879,616,000 after purchasing an additional 2,156,754 shares during the period. Finally, Adalta Capital Management LLC raised its position in SLB by 21.3% in the first quarter. Adalta Capital Management LLC now owns 43,894 shares of the oil and gas company’s stock valued at $2,269,000 after purchasing an additional 7,700 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SLB

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director owned 16,953 shares of the company’s stock, valued at $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Trending Headlines about SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB’s second-quarter earnings and revenue exceeded expectations, with EPS of $0.55 versus the $0.51 consensus and revenue of $8.97 billion versus $8.67 billion expected. Revenue increased 5% year over year, renewing interest in the oilfield-services provider and energy ETFs with significant SLB exposure, including IEZ, OIH and XLE. How SLB’s Q2 Earnings Impact Energy ETFs
• Positive Sentiment: BMO Capital Markets raised its SLB price target to $63, while a Morgan Stanley analyst also expects the stock to rise. Analysts broadly remain optimistic after SLB outperformed the broader market over the past year. BMO Raises SLB Price Target Morgan Stanley’s SLB Outlook Wall Street Analysts’ View of SLB
• Neutral Sentiment: SLB has attracted unusually high investor attention, but the coverage does not identify a specific new fundamental catalyst beyond its earnings performance and analyst outlook. SLB Investor Attention
• Neutral Sentiment: Despite a roughly 93% five-year return, a discounted-cash-flow analysis indicates potential value above the current share price. However, the valuation depends on continued growth in energy services and SLB’s data-center infrastructure initiatives. SLB Valuation Analysis
• Negative Sentiment: Zacks Research downgraded SLB from “hold” to “strong sell,” creating a notable bearish counterpoint to the otherwise favorable analyst consensus. Zacks Downgrade Report

SLB Stock Down 0.1%

Shares of NYSE SLB opened at $48.91 on Friday. The stock has a market cap of $73.12 billion, a P/E ratio of 23.63, a PEG ratio of 3.25 and a beta of 0.72. The business’s fifty day simple moving average is $50.58 and its 200-day simple moving average is $50.77. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41.

SLB (NYSE:SLB) last issued its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. The company had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.SLB’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 EPS. As a group, equities analysts predict that SLB Limited will post 2.49 EPS for the current fiscal year.

SLB Dividend Announcement

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 of this dividend is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.4%. SLB’s payout ratio is currently 57.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. BMO Capital Markets raised their price target on SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday. Wolfe Research assumed coverage on SLB in a research note on Wednesday, July 8th. They set an “outperform” rating and a $62.00 target price on the stock. TD Cowen raised their target price on SLB from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley boosted their price target on shares of SLB from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, UBS Group reduced their price target on shares of SLB from $69.00 to $66.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently 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.