Ceredex Value Advisors LLC Invests $41.38 Million in SLB Limited $SLB

Ceredex Value Advisors LLC bought a new position in SLB Limited (NYSE:SLB) during the 2nd quarter, Holdings Channel reports. The fund bought 890,200 shares of the oil and gas company’s stock, valued at approximately $41,385,000. SLB accounts for about 1.2% of Ceredex Value Advisors LLC’s holdings, making the stock its 16th largest position.

A number of other hedge funds also recently bought and sold shares of the business. Abel Hall LLC lifted its holdings in SLB by 2.7% in the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock worth $387,000 after buying an additional 198 shares during the period. E Fund Management Co. Ltd. increased its stake in shares of SLB by 3.6% during the second quarter. E Fund Management Co. Ltd. now owns 5,712 shares of the oil and gas company’s stock valued at $266,000 after buying an additional 199 shares during the period. Private Wealth Asset Management LLC increased its stake in shares of SLB by 4.1% during the fourth quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock valued at $193,000 after buying an additional 200 shares during the period. Capital Advisors Ltd. LLC raised its holdings in shares of SLB by 9.3% during the first quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock valued at $129,000 after acquiring an additional 214 shares in the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of SLB by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock valued at $395,000 after acquiring an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Trading Up 0.3%

SLB opened at $53.71 on Friday. The stock has a market cap of $79.71 billion, a PE ratio of 25.95, a PEG ratio of 3.53 and a beta of 0.73. 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 business has a 50 day moving average of $49.34 and a 200-day moving average of $51.22. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82.

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 analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 earnings per share. Equities research analysts predict 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. Stockholders of record on Wednesday, September 2nd will be given 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 2.2%. SLB’s dividend payout ratio is currently 57.00%.

More SLB News

Here are the key news stories impacting SLB this week:

• Positive Sentiment: Venezuela expansion could add meaningful work. SLB is preparing to restart as many as 15 oil rigs in Venezuela and is working with Formentera Partners to reactivate existing equipment or bring in additional rigs. Venezuela also signed agreements with SLB and other companies aimed at increasing oil production, potentially creating new drilling and well-services revenue. SLB Prepares to Restart 15 Oil Rigs in Venezuela SLB, Formentera working to activate drilling rigs in Venezuela Venezuela Signs Deals With SLB and Hunt
• Positive Sentiment: New offshore work in Brunei adds backlog visibility. Shell selected SLB for a production-restoration project offshore Brunei, providing another international contract and reinforcing demand for SLB’s technical services. Shell Taps SLB for Production Restarts offshore Brunei
• Positive Sentiment: Industry spending trends remain supportive. Commentary on rising upstream capital spending and SLB’s EnerCom presentation highlights the potential for increased customer activity, particularly in international and offshore markets. This supports the company’s longer-term revenue outlook. What Could Rising Upstream Spending Mean for SLB SLB Presents at the EnerCom Energy Investment Conference
• Neutral Sentiment: Risks temper the bullish impact. Venezuela projects may face sanctions, operational, payment and political risks, while higher long-term Treasury yields could pressure income-oriented stocks and raise financing costs across the energy sector. Dividend Stocks and Rising Treasury Yields

Analysts Set New Price Targets

Several analysts recently weighed in on SLB shares. Susquehanna lifted their price target on shares of SLB from $55.00 to $62.00 and gave the company a “positive” rating in a report on Monday, July 27th. UBS Group decreased their price objective on shares of SLB from $69.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Stifel Nicolaus raised their target price on shares of SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SLB in a research note on Monday, August 3rd. Finally, BMO Capital Markets boosted their price target on shares of SLB from $59.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $61.35.

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.