Jupiter Topco LLC Takes $17.02 Million Position in SLB Limited $SLB

Jupiter Topco LLC purchased a new position in SLB Limited (NYSE:SLB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 366,270 shares of the oil and gas company’s stock, valued at approximately $17,023,000.

Other large investors have also recently made changes to their positions in the company. State Street Corp lifted its holdings in SLB by 1.0% in the 4th quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company’s stock valued at $3,263,998,000 after purchasing an additional 799,218 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of SLB by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company’s stock worth $2,072,844,000 after buying an additional 1,458,650 shares in the last quarter. Morgan Stanley raised its position in shares of SLB by 1.3% in the fourth quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company’s stock valued at $1,423,716,000 after buying an additional 482,533 shares during the last quarter. Geode Capital Management LLC raised its position in shares of SLB by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock valued at $1,292,993,000 after buying an additional 510,747 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of SLB in the second quarter worth about $1,339,567,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SLB. Jefferies Financial Group restated a “buy” rating and set a $66.00 price target on shares of SLB in a research report on Sunday, July 26th. Piper Sandler raised their target price on shares of SLB from $59.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Morgan Stanley boosted their target price on SLB from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Raymond James Financial cut their price target on SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, July 10th. Finally, Wolfe Research assumed coverage on SLB in a research report on Wednesday, July 8th. They set an “outperform” rating and a $62.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.35.

SLB Stock Performance

NYSE:SLB opened at $57.40 on Friday. The company’s 50-day moving average is $49.70 and its two-hundred day moving average is $51.41. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05. The firm has a market capitalization of $85.19 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 3.78 and a beta of 0.73.

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, topping analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $8.97 billion during 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%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 EPS. Analysts forecast that SLB Limited will post 2.5 EPS 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 2.1%. SLB’s dividend payout ratio (DPR) is 57.00%.

SLB Company 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.