Integrated Wealth Concepts LLC Has $7.73 Million Stock Position in SLB Limited $SLB

Integrated Wealth Concepts LLC boosted its holdings in SLB Limited (NYSE:SLB) by 47.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 166,307 shares of the oil and gas company’s stock after buying an additional 53,259 shares during the period. Integrated Wealth Concepts LLC’s holdings in SLB were worth $7,732,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SLB. California State Teachers Retirement System increased its position in SLB by 2,891.7% during the second quarter. California State Teachers Retirement System now owns 145,176,833 shares of the oil and gas company’s stock worth $6,749,271,000 after acquiring an additional 140,324,172 shares during the period. Bank of New York Mellon Corp acquired a new position in SLB during the 2nd quarter valued at $1,339,567,000. Norges Bank bought a new stake in SLB in the 4th quarter valued at $809,557,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in SLB by 6,358.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,134,731 shares of the oil and gas company’s stock worth $471,164,000 after purchasing an additional 9,977,804 shares during the last quarter. Finally, Wellington Management Group LLP grew its position 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 purchasing an additional 5,589,585 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Evercore restated an “outperform” rating and set a $66.00 price objective on shares of SLB in a report on Monday, July 27th. Zacks Research upgraded shares of SLB from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Morgan Stanley lifted their target price on SLB from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Citigroup lowered their price target on SLB from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Finally, Raymond James Financial decreased their price objective on SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, SLB currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.65.

SLB Stock Down 1.9%

Shares of SLB opened at $55.99 on Friday. 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 company has a 50-day moving average price of $51.67 and a two-hundred day moving average price of $51.84. The stock has a market cap of $83.09 billion, a price-to-earnings ratio of 27.05, a P/E/G ratio of 3.24 and a beta of 0.76. SLB Limited has a 12 month low of $31.64 and a 12 month high of $60.46.

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, 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 for the quarter, compared to analyst estimates of $8.67 billion. During the same period in the prior year, the company posted $0.74 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. Equities analysts predict that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Dividend Announcement

The business 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 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio is currently 57.00%.

SLB Company Profile

SLB, formerly known as Schlumberger Limited, is a global technology and services company serving the energy industry. The company provides equipment, technology and technical expertise that help oil and gas producers locate, drill, complete and operate wells, as well as manage reservoirs and production assets.

Its offerings include seismic and subsurface evaluation, drilling and well-construction services, well completion and stimulation, artificial lift, production optimization, intervention services, subsea production systems and digital solutions.