Wealth Enhancement Advisory Services LLC Boosts Stock Position in SLB Limited $SLB

Wealth Enhancement Advisory Services LLC raised its holdings in SLB Limited (NYSE:SLB) by 9.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 154,361 shares of the oil and gas company’s stock after acquiring an additional 13,501 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in SLB were worth $7,127,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Evergreen Advisors LLC purchased a new stake in shares of SLB in the 1st quarter worth $26,000. Costello Asset Management INC raised its holdings in shares of SLB by 93.3% in the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 280 shares in the last quarter. Arlington Trust Co LLC raised its holdings in shares of SLB by 66.5% in the second quarter. Arlington Trust Co LLC now owns 701 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 280 shares in the last quarter. MV Capital Management Inc. purchased a new stake in SLB in the fourth quarter worth about $28,000. Finally, Sound Income Strategies LLC grew its holdings in SLB by 71.1% during the 1st quarter. Sound Income Strategies LLC now owns 780 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 324 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

SLB Stock Performance

NYSE:SLB opened at $52.66 on Thursday. The stock has a market capitalization of $78.15 billion, a PE ratio of 25.44, a P/E/G ratio of 3.54 and a beta of 0.73. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The company has a fifty day moving average of $49.67 and a two-hundred day moving average of $51.04. 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 (NYSE:SLB) last posted its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. The company had revenue of $8.97 billion for the quarter, compared to analysts’ expectations of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.SLB’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 EPS. As a group, research analysts forecast that SLB Limited will post 2.5 earnings per share for the current fiscal year.

SLB Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB’s dividend payout ratio (DPR) is currently 57.00%.

Analyst Ratings Changes

SLB has been the subject of several research reports. UBS Group lowered their price target on shares of SLB from $69.00 to $66.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Piper Sandler raised their price objective on SLB from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Wolfe Research began coverage on shares of SLB in a research report on Wednesday, July 8th. They set an “outperform” rating and a $62.00 target price on the stock. Raymond James Financial cut 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. Finally, BMO Capital Markets increased their price objective on shares of SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Two research 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. Based on data from MarketBeat, the stock currently 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.