Kentucky Farm Bureau Mutual Insurance Co Invests $930,000 in SLB Limited $SLB

Kentucky Farm Bureau Mutual Insurance Co acquired a new stake in SLB Limited (NYSE:SLB) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 20,000 shares of the oil and gas company’s stock, valued at approximately $930,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Evergreen Advisors LLC purchased a new position in SLB in the 1st quarter worth $26,000. MV Capital Management Inc. purchased a new stake in SLB during the fourth quarter valued at about $28,000. Strategic Wealth Advisors LLC bought a new position in shares of SLB during the fourth quarter valued at about $30,000. Costello Asset Management INC grew its stake in shares of SLB by 93.3% during the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 280 shares during the last quarter. Finally, Lloyd Advisory Services LLC. purchased a new position in shares of SLB in the fourth quarter worth about $31,000. Institutional investors own 81.99% of the company’s stock.

Trending Headlines about SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: Venezuela expansion opportunity: SLB and Formentera Partners are working to reactivate drilling rigs in Venezuela or bring additional rigs into the country in the coming months. Separately, Venezuela signed agreements with SLB aimed at increasing oil production, potentially creating demand for drilling, well-construction and production services. The opportunity could be meaningful if operations proceed, but its timing depends on regulatory, political and logistical conditions. Reuters article on SLB and Formentera in Venezuela
• Positive Sentiment: Brunei Shell Petroleum contract: SLB won a contract to restore production from shut-in wells across multiple offshore fields. The scope includes subsurface evaluation, well selection, engineering, intervention services, monitoring, metering and offshore execution, providing a broad, integrated services opportunity with Shell-affiliated customer Brunei Shell Petroleum. SLB Brunei Shell Petroleum contract
• Positive Sentiment: Potential upstream spending support: Industry commentary suggests rising upstream investment could benefit SLB through stronger demand for drilling, production and oilfield technology services. This supports the company’s longer-term growth outlook if energy companies continue increasing capital budgets. Upstream spending outlook for SLB

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SLB. UBS Group dropped their target price on SLB from $69.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of SLB in a research note on Tuesday, June 16th. Barclays boosted their price objective 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 increased their price objective on SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Finally, Susquehanna raised their target price on shares of SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $61.35.

SLB Stock Performance

SLB stock opened at $53.62 on Thursday. 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 firm has a market cap of $79.58 billion, a P/E ratio of 25.90, a P/E/G ratio of 3.51 and a beta of 0.73. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The firm has a 50-day moving average of $49.38 and a 200-day moving average of $51.18.

SLB (NYSE:SLB) last announced its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 EPS. Sell-side analysts expect that SLB Limited will post 2.5 EPS for the current year.

SLB Announces Dividend

The firm 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 $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio (DPR) is currently 57.00%.

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.