SLB Limited $SLB Shares Bought by Kentucky Retirement Systems

Kentucky Retirement Systems raised its position in shares of SLB Limited (NYSE:SLB) by 15.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,730 shares of the oil and gas company’s stock after acquiring 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.

Several other hedge funds and other institutional investors have also made changes to their positions in SLB. Evergreen Advisors LLC acquired a new position in SLB in the 1st quarter valued at $26,000. Costello Asset Management INC boosted its stake in SLB by 93.3% during the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 280 shares during the last quarter. MV Capital Management Inc. purchased a new stake in shares of SLB during the fourth quarter worth $28,000. Sound Income Strategies LLC raised its position in shares of SLB by 71.1% in the first quarter. Sound Income Strategies LLC now owns 780 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 324 shares during the last quarter. Finally, Steph & Co. raised its position in shares of SLB by 97.5% in the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the company’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 directly owned 16,953 shares in the company, valued at approximately $921,056.49. This represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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

Analyst Upgrades and Downgrades

SLB has been the topic of a number of recent research reports. 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 report on Monday. Evercore reissued an “outperform” rating and issued a $66.00 target price on shares of SLB in a research note on Monday. Wolfe Research initiated coverage on SLB in a report on Wednesday, July 8th. They set an “outperform” rating and a $62.00 target price on the stock. TD Cowen upped their price target on SLB from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday. Finally, Piper Sandler increased their price target on SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.35.

SLB Trading Down 0.1%

Shares of SLB opened at $48.91 on Friday. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82. The firm has a market capitalization of $73.12 billion, a P/E ratio of 23.63, a P/E/G ratio of 3.25 and a beta of 0.72. The firm has a 50-day moving average price of $50.58 and a 200 day moving average price of $50.77. 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 earnings results on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, topping 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 net margin of 8.53% and a return on equity of 14.05%. SLB’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 earnings per share. Sell-side analysts forecast that SLB Limited will post 2.49 EPS for the current year.

SLB Dividend Announcement

The company also recently declared 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. This represents a $1.18 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB’s payout ratio is presently 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.