SLB Limited $SLB Shares Bought by Czech National Bank

Czech National Bank grew its holdings in SLB Limited (NYSE:SLB) by 4.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 425,551 shares of the oil and gas company’s stock after buying an additional 18,304 shares during the quarter. Czech National Bank’s holdings in SLB were worth $19,784,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SLB. Evergreen Advisors LLC acquired a new stake in shares of SLB in the first quarter valued at about $26,000. MV Capital Management Inc. acquired a new position in shares of SLB during the 4th quarter worth about $28,000. Strategic Wealth Advisors LLC acquired a new position in shares of SLB during the 4th quarter worth about $30,000. Costello Asset Management INC lifted its stake in SLB by 93.3% in 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 in the last quarter. Finally, Steph & Co. boosted its holdings in SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after buying an additional 394 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Stock Performance

Shares of SLB stock opened at $50.52 on Friday. The business’s 50 day moving average price is $49.84 and its 200 day moving average price is $50.91. The company has a market cap of $74.98 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 3.40 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 one year low of $31.64 and a one year high of $58.82.

SLB (NYSE:SLB) last issued its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) 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 analysts’ expectations of $8.67 billion. During the same period in the prior year, the business earned $0.74 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. On average, research analysts predict that SLB Limited will post 2.5 EPS for the current year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be issued a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. SLB’s dividend payout ratio is currently 57.00%.

Analyst Upgrades and Downgrades

Several research firms have commented on SLB. UBS Group cut their price objective on SLB from $69.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Piper Sandler lifted their price target on SLB from $59.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Barclays lifted their price target on SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. JPMorgan Chase & Co. increased their price objective on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, Morgan Stanley raised their price objective on SLB from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $61.35.

About SLB

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.