48,036 SLB Limited $SLB Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lifted its stake in SLB Limited (NYSE:SLB) by 21.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 273,006 shares of the oil and gas company’s stock after purchasing an additional 48,036 shares during the period. Oppenheimer & Co. Inc.’s holdings in SLB were worth $13,301,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Saudi Central Bank raised its position in shares of SLB by 90.6% in the 2nd quarter. Saudi Central Bank now owns 105,079 shares of the oil and gas company’s stock valued at $4,885,000 after acquiring an additional 49,937 shares during the period. Bank of America Corp DE boosted its stake in SLB by 11.1% during the 1st quarter. Bank of America Corp DE now owns 10,536,104 shares of the oil and gas company’s stock worth $541,450,000 after acquiring an additional 1,052,239 shares during the last quarter. Nan Shan Life Insurance Co. Ltd. boosted its stake in SLB by 513.8% during the 2nd quarter. Nan Shan Life Insurance Co. Ltd. now owns 736,544 shares of the oil and gas company’s stock worth $34,242,000 after acquiring an additional 616,544 shares during the last quarter. State Street Corp grew its holdings in SLB by 0.8% during the second quarter. State Street Corp now owns 91,222,641 shares of the oil and gas company’s stock valued at $4,267,269,000 after purchasing an additional 722,060 shares during the period. Finally, QRG Capital Management Inc. grew its holdings in SLB by 707.9% during the first quarter. QRG Capital Management Inc. now owns 115,079 shares of the oil and gas company’s stock valued at $5,914,000 after purchasing an additional 100,834 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Morgan Stanley upped their target price on shares of SLB from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Susquehanna lifted their price target on shares of SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a research report on Monday, July 27th. Raymond James Financial reduced their price target on shares of SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. The Goldman Sachs Group decreased their price target on shares of SLB from $63.00 to $62.00 in a report on Tuesday, July 7th. Finally, Wolfe Research started coverage on shares of SLB in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price objective for the company. Twenty-four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, SLB presently has an average rating of “Moderate Buy” and an average target price of $61.52.

SLB Trading Up 1.9%

NYSE:SLB opened at $54.09 on Wednesday. The business’s 50-day simple moving average is $52.49 and its 200-day simple moving average is $51.23. SLB Limited has a fifty-two week low of $34.65 and a fifty-two week high of $60.46.

SLB (NYSE:SLB) last posted its earnings results on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same period in the previous year, the company posted $0.69 earnings per share. SLB’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that SLB Limited will post 2.47 EPS for the current year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Wednesday, December 2nd will be given a dividend of $0.2950 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.18 annualized dividend and a dividend yield of 2.2%.

About SLB

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.