SLB Limited $SLB Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC grew its stake in SLB Limited (NYSE:SLB) by 12.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 245,070 shares of the oil and gas company’s stock after acquiring an additional 27,234 shares during the period. Janney Montgomery Scott LLC’s holdings in SLB were worth $12,594,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in SLB in the fourth quarter valued at approximately $809,557,000. Bank of New York Mellon Corp raised its holdings in shares of SLB by 64.4% in the 4th quarter. Bank of New York Mellon Corp now owns 15,696,831 shares of the oil and gas company’s stock valued at $602,444,000 after buying an additional 6,149,511 shares during the period. Wellington Management Group LLP raised its holdings in shares of SLB by 50.6% in the 4th quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company’s stock valued at $638,473,000 after buying an additional 5,589,585 shares during the period. State Street Corp lifted its stake in SLB by 7.0% during the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock worth $2,898,037,000 after acquiring an additional 5,466,786 shares in the last quarter. Finally, Capital International Investors lifted its stake in SLB by 86.9% during the 4th quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock worth $446,247,000 after acquiring an additional 5,404,948 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SLB shares. Susquehanna lifted their target price on SLB from $60.00 to $65.00 and gave the company a “positive” rating in a research report on Monday, April 27th. Royal Bank Of Canada reissued an “outperform” rating and issued a $61.00 price objective on shares of SLB in a research note on Tuesday, June 16th. Citigroup dropped their price objective on shares of SLB from $68.00 to $63.00 and set a “buy” rating for the company in a report on Wednesday. Stifel Nicolaus upped their target price on shares of SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $65.00 target price on shares of SLB in a report on Sunday, April 26th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

SLB Price Performance

Shares of NYSE SLB opened at $45.12 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The company has a market cap of $67.46 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 1.87 and a beta of 0.73. The stock’s 50-day moving average is $53.85 and its two-hundred day moving average is $49.59. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82.

SLB (NYSE:SLB) last announced its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. During the same quarter last year, the business posted $0.72 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts forecast that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, June 3rd. SLB’s payout ratio is 51.53%.

SLB News Roundup

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB won a seven-year contract from Kuwait Oil Company under the Ahmadi Innovation Valley initiative, a deal that should support applied research, technology deployment and digital innovation work over a long period. SLB Awarded Seven-Year Contract Under Kuwait Oil Company’s Ahmadi Innovation Valley Initiative
• Positive Sentiment: Industrial Realty Group said SLB expanded its long-term lease in Shreveport, showing continued operational growth and commitment to the site. IRG Expands Long-Term Lease with SLB in Shreveport, LA
• Positive Sentiment: Citigroup lowered its price target to $63 from $68, but kept a Buy rating, signaling the stock still has meaningful upside from current levels. Benzinga report on Citigroup price target cut
• Neutral Sentiment: Several commentary pieces argued SLB may be oversold after a sharp multi-week selloff, with analysts still revising earnings estimates higher; this could help support a rebound, but it is not a direct catalyst. Down 15.3% in 4 Weeks, Here’s Why You Should You Buy the Dip in SLB (SLB)
• Neutral Sentiment: Multiple articles compared SLB with other stocks on valuation, which is generally more of a discussion topic than a direct stock-moving event. SLB vs. NPO: Which Stock Is the Better Value Option?
• Negative Sentiment: News that a peace deal in Iran is pressuring oil prices is hurting the energy complex and contributing to weakness in SLB. This Energy Stock Tops My July Buy List
• Negative Sentiment: One market note highlighted SLB’s recent weakness and said the stock continues to trade lower as broader market conditions and oil-related concerns remain in focus. SLB (SLB) Stock Sinks As Market Gains: Here’s Why

Insider Activity at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director directly owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the sale, the executive vice president owned 47,421 shares in the company, valued at $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.16% of the company’s stock.

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.