Prospera Financial Services Inc Purchases 21,086 Shares of SLB Limited $SLB

Prospera Financial Services Inc raised its position in shares of SLB Limited (NYSE:SLB) by 22.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,005 shares of the oil and gas company’s stock after purchasing an additional 21,086 shares during the period. Prospera Financial Services Inc’s holdings in SLB were worth $5,442,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Abel Hall LLC increased its stake in shares of SLB by 2.7% in the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock valued at $387,000 after purchasing an additional 198 shares during the last quarter. Private Wealth Asset Management LLC lifted its position in shares of SLB by 4.1% during the 4th quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock worth $193,000 after buying an additional 200 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of SLB by 9.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock worth $129,000 after buying an additional 214 shares during the last quarter. Ballentine Partners LLC boosted its stake in SLB by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock valued at $395,000 after buying an additional 218 shares in the last quarter. Finally, Davis Capital Management boosted its stake in SLB by 1.0% in the first quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company’s stock valued at $1,129,000 after buying an additional 220 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Price Performance

Shares of SLB opened at $51.99 on Friday. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82. The business has a 50-day simple moving average of $49.54 and a two-hundred day simple moving average of $51.07. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The stock has a market cap of $77.16 billion, a PE ratio of 25.12, a PEG ratio of 3.47 and a beta of 0.73.

SLB (NYSE:SLB) last announced its quarterly 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. The firm had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the firm posted $0.74 earnings per share. Analysts anticipate that SLB Limited will post 2.5 earnings per share for the current fiscal 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 dividend of $0.295 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $1.18 annualized dividend and a yield of 2.3%. SLB’s dividend payout ratio (DPR) is currently 57.00%.

Analyst Upgrades and Downgrades

Several research analysts have commented on SLB shares. Barclays boosted their target price on SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Evercore restated an “outperform” rating and issued a $66.00 price target on shares of SLB in a research note on Monday, July 27th. TD Cowen lifted their price target on shares of SLB from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, July 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of SLB in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.