SLB Limited $SLB Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its stake in SLB Limited (NYSE:SLB) by 12.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 245,070 shares of the oil and gas company’s stock after acquiring an additional 27,234 shares during the period. Janney Montgomery Scott LLC’s holdings in SLB were worth $12,594,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in SLB by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after acquiring an additional 1,166 shares in the last quarter. Bison Wealth LLC purchased a new stake in SLB in the fourth quarter valued at $238,000. Marshall Wace LLP acquired a new position in SLB in the second quarter valued at $8,628,000. Nebula Research & Development LLC grew its holdings in shares of SLB by 76.0% during the second quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company’s stock worth $824,000 after purchasing an additional 10,522 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its holdings in shares of SLB by 7.6% during the second quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company’s stock worth $373,000 after purchasing an additional 799 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of several research reports. Stifel Nicolaus boosted their target price on SLB from $61.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Royal Bank Of Canada restated an “outperform” rating and set a $61.00 price target on shares of SLB in a research note on Tuesday, June 16th. BMO Capital Markets lifted their price target on SLB from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Sanford C. Bernstein boosted their price objective on SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, Evercore reissued an “outperform” rating and issued a $64.00 price objective on shares of SLB in a report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.17.

Key SLB News

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB won a seven-year contract from Kuwait Oil Company under the Ahmadi Innovation Valley initiative, a deal that should support applied research, technology deployment and digital innovation work over a long period. SLB Awarded Seven-Year Contract Under Kuwait Oil Company’s Ahmadi Innovation Valley Initiative
• Positive Sentiment: Industrial Realty Group said SLB expanded its long-term lease in Shreveport, showing continued operational growth and commitment to the site. IRG Expands Long-Term Lease with SLB in Shreveport, LA
• Positive Sentiment: Citigroup lowered its price target to $63 from $68, but kept a Buy rating, signaling the stock still has meaningful upside from current levels. Benzinga report on Citigroup price target cut
• Neutral Sentiment: Several commentary pieces argued SLB may be oversold after a sharp multi-week selloff, with analysts still revising earnings estimates higher; this could help support a rebound, but it is not a direct catalyst. Down 15.3% in 4 Weeks, Here’s Why You Should You Buy the Dip in SLB (SLB)
• Neutral Sentiment: Multiple articles compared SLB with other stocks on valuation, which is generally more of a discussion topic than a direct stock-moving event. SLB vs. NPO: Which Stock Is the Better Value Option?
• Negative Sentiment: News that a peace deal in Iran is pressuring oil prices is hurting the energy complex and contributing to weakness in SLB. This Energy Stock Tops My July Buy List
• Negative Sentiment: One market note highlighted SLB’s recent weakness and said the stock continues to trade lower as broader market conditions and oil-related concerns remain in focus. SLB (SLB) Stock Sinks As Market Gains: Here’s Why

SLB Price Performance

Shares of SLB opened at $45.12 on Thursday. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The company has a market capitalization of $67.46 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 1.87 and a beta of 0.73. The firm has a 50-day simple moving average of $53.85 and a 200-day simple moving average of $49.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34.

SLB (NYSE:SLB) last issued its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 EPS. On average, equities research analysts anticipate that SLB Limited will post 2.62 earnings per share for the current year.

SLB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio (DPR) is 51.53%.

Insider Buying and Selling

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the transaction, the director owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the sale, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.16% of the company’s stock.

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.