HighTower Advisors LLC Raises Stock Holdings in SLB Limited $SLB

HighTower Advisors LLC boosted its position in shares of SLB Limited (NYSE:SLB) by 0.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,577,193 shares of the oil and gas company’s stock after buying an additional 11,509 shares during the quarter. HighTower Advisors LLC owned approximately 0.11% of SLB worth $73,324,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Evergreen Advisors LLC purchased a new position in shares of SLB in the first quarter valued at about $26,000. Costello Asset Management INC boosted its holdings in shares of SLB by 93.3% during 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 shares of SLB by 66.5% during 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 shares of SLB in the fourth quarter worth about $28,000. Finally, Maryland Capital Advisors Inc. bought a new stake in shares of SLB in the second quarter worth about $35,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SLB shares. Piper Sandler boosted their price target on SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Wolfe Research began coverage on SLB in a report on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price objective for the company. TD Cowen lifted their price objective on SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. UBS Group reissued a “buy” rating on shares of SLB in a research note on Tuesday, September 1st. Finally, Stifel Nicolaus upped their target price on SLB from $61.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.35.

SLB Price Performance

SLB stock opened at $57.45 on Tuesday. SLB Limited has a 1 year low of $31.64 and a 1 year high of $60.46. The company has a market cap of $85.26 billion, a P/E ratio of 27.75, a PEG ratio of 3.27 and a beta of 0.76. The firm has a 50-day moving average of $50.99 and a 200 day moving average of $51.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05.

SLB (NYSE:SLB) last issued its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $8.67 billion. During the same period last year, the business posted $0.74 earnings per share. SLB’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts forecast that SLB Limited will post 2.5 EPS for the current year.

SLB Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio (DPR) is presently 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.