Jupiter Topco LLC Buys Shares of 366,270 SLB Limited $SLB

Jupiter Topco LLC bought a new position in shares of SLB Limited (NYSE:SLB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 366,270 shares of the oil and gas company’s stock, valued at approximately $17,023,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SLB. Evergreen Advisors LLC acquired a new position in shares of SLB in the 1st quarter worth approximately $26,000. MV Capital Management Inc. acquired a new stake in SLB in the 4th quarter valued at approximately $28,000. Strategic Wealth Advisors LLC acquired a new stake in SLB in the 4th quarter valued at approximately $30,000. Costello Asset Management INC raised its position in SLB by 93.3% in the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 280 shares during the period. Finally, Lloyd Advisory Services LLC. acquired a new position in SLB during the fourth quarter worth $31,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

SLB Stock Performance

NYSE:SLB opened at $57.40 on Friday. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The company has a fifty day simple moving average of $49.70 and a two-hundred day simple moving average of $51.41. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The company has a market cap of $85.19 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 3.78 and a beta of 0.73.

SLB (NYSE:SLB) last announced its quarterly earnings data 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. The business had revenue of $8.97 billion for the quarter, compared to analysts’ expectations of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the firm earned $0.74 earnings per share. As a group, equities analysts anticipate that SLB Limited will post 2.5 earnings per share 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 paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio (DPR) is presently 57.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. UBS Group dropped their price objective on SLB from $69.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Wolfe Research began coverage on SLB in a report on Wednesday, July 8th. They set an “outperform” rating and a $62.00 target price for the company. TD Cowen lifted their target price on SLB from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Susquehanna lifted their target price on SLB from $55.00 to $62.00 and gave the company a “positive” rating in a research report on Monday, July 27th. Finally, BMO Capital Markets boosted their price target on shares of SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.