SLB Limited $SLB Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its holdings in shares of SLB Limited (NYSE:SLB) by 5.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,644,108 shares of the oil and gas company’s stock after selling 619,341 shares during the quarter. Legal & General Group Plc owned about 0.72% of SLB worth $494,845,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Evergreen Advisors LLC purchased a new stake in SLB in the first quarter valued at approximately $26,000. MV Capital Management Inc. acquired a new position in shares of SLB in the 4th quarter valued at $28,000. Strategic Wealth Advisors LLC purchased a new stake in shares of SLB during the 4th quarter valued at $30,000. Costello Asset Management INC grew its stake in shares of SLB by 93.3% during the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 280 shares during the period. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of SLB during the 4th quarter worth $31,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

SLB stock opened at $53.31 on Wednesday. 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’s fifty day moving average price is $49.31 and its 200 day moving average price is $51.31. The company has a market capitalization of $79.12 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 3.56 and a beta of 0.73. 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 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. SLB had a return on equity of 14.05% and a net margin of 8.53%.The company had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same period last year, the firm earned $0.74 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. On average, research analysts forecast that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Dividend Announcement

The firm also recently disclosed 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. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio (DPR) is 57.00%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SLB shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SLB in a research report on Monday, August 3rd. Raymond James Financial lowered their price target on SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Jefferies Financial Group restated a “buy” rating and issued a $66.00 price objective on shares of SLB in a report on Sunday, July 26th. Piper Sandler lifted their price objective on SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Finally, Stifel Nicolaus boosted their target price on SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.35.

Key Stories Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB secured access to valuable Venezuelan oilfield data through a contract with state-run PDVSA. The information could support future reservoir evaluation and technology projects in a country with the world’s largest crude reserves, though regulatory and geopolitical risks remain. Reuters: SLB gains access to Venezuela oilfield data through contract
• Positive Sentiment: SLB was selected as strategic reservoir partner for Harbour Energy’s Havstjerne carbon storage project in Norway’s North Sea. The company will provide technology and engineering services during the concept and front-end engineering and design phases, strengthening its position in carbon-management markets. SLB Selected as Strategic Reservoir Partner for the Havstjerne Carbon Storage Project
• Positive Sentiment: The company launched its ExaCT electrical downhole coiled-tubing control system, which provides real-time electrical communication, power and telemetry. SLB says the technology can improve intervention precision, reservoir access and operational visibility, potentially supporting future product adoption. SLB Launches ExaCT Electrical Downhole CT Control System
• Neutral Sentiment: Unusually heavy call-option activity indicates increased speculative interest, but options volume does not guarantee sustained buying or a change in fundamentals. SLB options trading activity
• Negative Sentiment: SLB shares underperformed during the latest session even as the broader market advanced. Coverage characterized the move as a market and positioning issue rather than citing a new deterioration in operations. Investors may also be assessing valuation after the stock’s strong recovery and the company’s earnings outlook.

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.