Gabelli Funds LLC Has $36.63 Million Stock Position in SLB Limited $SLB

Gabelli Funds LLC increased its stake in shares of SLB Limited (NYSE:SLB) by 3.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 787,920 shares of the oil and gas company’s stock after acquiring an additional 26,596 shares during the period. Gabelli Funds LLC owned about 0.05% of SLB worth $36,630,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Gamco Investors INC. ET AL grew its stake in SLB by 2.0% in the second quarter. Gamco Investors INC. ET AL now owns 154,529 shares of the oil and gas company’s stock valued at $7,184,000 after purchasing an additional 3,098 shares in the last quarter. Martin & Co. Inc. TN boosted its holdings in shares of SLB by 0.4% in the 2nd quarter. Martin & Co. Inc. TN now owns 111,663 shares of the oil and gas company’s stock valued at $5,191,000 after buying an additional 498 shares during the last quarter. TRB Wealth Management LLC grew its stake in shares of SLB by 17.1% in the second quarter. TRB Wealth Management LLC now owns 7,075 shares of the oil and gas company’s stock valued at $329,000 after buying an additional 1,035 shares in the last quarter. Korea Investment CORP increased its holdings in SLB by 16.4% during the second quarter. Korea Investment CORP now owns 1,142,325 shares of the oil and gas company’s stock worth $53,107,000 after buying an additional 160,671 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its position in SLB by 2.0% during the second quarter. EP Wealth Advisors LLC now owns 41,661 shares of the oil and gas company’s stock worth $1,937,000 after acquiring an additional 800 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on SLB. Susquehanna increased their price target on shares of SLB from $55.00 to $62.00 and gave the company a “positive” rating in a research note on Monday, July 27th. Piper Sandler upped their target price on shares of SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Stifel Nicolaus raised their target price on shares of SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Morgan Stanley lifted their price target on SLB from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Finally, Barclays boosted their price target on SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $61.35.

SLB Price Performance

NYSE:SLB opened at $53.90 on Friday. The firm’s 50-day simple moving average is $49.30 and its 200 day simple moving average is $51.24. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. The firm has a market cap of $80.00 billion, a price-to-earnings ratio of 26.04, a P/E/G ratio of 3.55 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 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. SLB had a net margin of 8.53% and a return on equity of 14.05%. The business had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same period in the previous year, the business earned $0.74 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts predict that SLB Limited will post 2.5 earnings per share for the current year.

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders 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 2.2%. SLB’s payout ratio is presently 57.00%.

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.