Birmingham Capital Management Co. Inc. AL Acquires New Position in SLB Limited $SLB

Birmingham Capital Management Co. Inc. AL acquired a new stake in shares of SLB Limited (NYSE:SLB) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 28,100 shares of the oil and gas company’s stock, valued at approximately $1,306,000.

A number of other large investors also recently bought and sold shares of the company. Evergreen Advisors LLC acquired a new stake in shares of SLB during the 1st quarter valued at approximately $26,000. Costello Asset Management INC boosted its holdings in SLB by 93.3% in the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 280 shares during the period. Arlington Trust Co LLC boosted its holdings in SLB by 66.5% in the second quarter. Arlington Trust Co LLC now owns 701 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 280 shares during the period. MV Capital Management Inc. bought a new stake in SLB during the fourth quarter valued at $28,000. Finally, Maryland Capital Advisors Inc. bought a new stake in SLB during the second quarter valued at $35,000. Institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

Shares of SLB opened at $53.66 on Thursday. The firm has a fifty day moving average of $49.38 and a 200-day moving average of $51.34. The company has a market cap of $79.64 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 3.52 and a beta of 0.73. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. SLB Limited has a 1 year low of $31.64 and a 1 year high of $58.82.

SLB (NYSE:SLB) last released its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $8.97 billion for the quarter, compared to analysts’ expectations of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 EPS. As a group, equities analysts anticipate that SLB Limited will post 2.5 earnings per share for the current year.

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio (DPR) is currently 57.00%.

Key Headlines Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: New North Sea carbon-storage contract: SLB was selected as strategic reservoir partner for Norway’s Havstjerne carbon-storage project. The company will provide reservoir technology and engineering services during the concept and front-end engineering and design phases, strengthening its position in Europe’s emerging carbon-capture and storage market. SLB selected as reservoir partner for Havstjerne carbon storage project
• Positive Sentiment: Potential Venezuelan growth opportunity: A contract with Venezuela’s state-run PDVSA reportedly gives SLB access to the country’s oilfield data. Access to data from one of the world’s largest oil-reserve holders could create opportunities for future reservoir evaluation, production optimization and oilfield-services work, though the commercial benefits remain uncertain. SLB gains access to Venezuela’s coveted oilfield data through contract
• Neutral Sentiment: CEO share sale: Chief Executive Olivier Le Peuch sold 25,000 SLB shares under a prearranged Rule 10b5-1 trading plan. Because the transaction was scheduled in advance, it does not necessarily signal a change in management’s view of the company, but it can still attract investor attention. SLB CEO Olivier Le Peuch executes sale of 25,000 shares
• Negative Sentiment: Recent trading weakness: SLB declined in the prior session even as the broader market advanced, indicating some relative investor caution despite the new project announcements. SLB stock falls amid market uptick

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SLB. Weiss Ratings restated a “hold (c)” rating on shares of SLB in a research report on Monday, August 3rd. Barclays boosted 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 increased their price objective on shares of SLB from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. TD Cowen raised their target price on shares of SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $66.00 target price on shares of SLB in a research note on Sunday, July 26th. Two 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $61.35.

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.