Vise Technologies Inc. Acquires 17,695 Shares of SLB Limited $SLB

Vise Technologies Inc. raised its holdings in shares of SLB Limited (NYSE:SLB) by 48.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,996 shares of the oil and gas company’s stock after purchasing an additional 17,695 shares during the period. Vise Technologies Inc.’s holdings in SLB were worth $2,510,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SLB. Bank of New York Mellon Corp bought a new position in shares of SLB during the second quarter valued at $1,339,567,000. Norges Bank bought a new stake in SLB in the 4th quarter worth about $809,557,000. Wellington Management Group LLP increased its holdings in 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 worth $638,473,000 after buying an additional 5,589,585 shares in the last quarter. State Street Corp raised its position in SLB by 7.0% in 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 buying an additional 5,466,786 shares during the last quarter. Finally, Capital International Investors raised its position in SLB by 86.9% in 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 buying an additional 5,404,948 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SLB shares. JPMorgan Chase & Co. raised their price target on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Susquehanna boosted their price objective on shares of SLB from $55.00 to $62.00 and gave the company a “positive” rating in a report on Monday, July 27th. Barclays increased their price objective on shares of SLB from $64.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Morgan Stanley lifted their target price on shares of SLB from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Finally, Piper Sandler boosted their target price on shares of SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.35.

SLB Stock Performance

SLB opened at $53.90 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. The company has a market cap of $80.00 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 3.53 and a beta of 0.73. The company’s 50 day moving average is $49.30 and its 200 day moving average is $51.24. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82.

SLB (NYSE:SLB) last announced its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $8.67 billion. During the same period in the prior year, the company earned $0.74 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. On average, equities research analysts predict that SLB Limited will post 2.5 EPS for the current year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio is 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.