MinichMacGregor Wealth Management LLC Has $6.89 Million Stock Holdings in SLB Limited $SLB

MinichMacGregor Wealth Management LLC grew its position in shares of SLB Limited (NYSE:SLB) by 21.8% in the second quarter, HoldingsChannel reports. The fund owned 148,234 shares of the oil and gas company’s stock after acquiring an additional 26,534 shares during the period. SLB makes up 1.0% of MinichMacGregor Wealth Management LLC’s portfolio, making the stock its 25th largest position. MinichMacGregor Wealth Management LLC’s holdings in SLB were worth $6,891,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Crossmark Global Holdings Inc. raised its holdings in shares of SLB by 3.8% in the second quarter. Crossmark Global Holdings Inc. now owns 311,900 shares of the oil and gas company’s stock valued at $14,500,000 after purchasing an additional 11,507 shares during the last quarter. Mraz Amerine & Associates Inc. lifted its position in shares of SLB by 1.6% in the second quarter. Mraz Amerine & Associates Inc. now owns 124,804 shares of the oil and gas company’s stock worth $5,802,000 after purchasing an additional 2,019 shares in the last quarter. Ramiah Investment Group acquired a new position in SLB during the second quarter worth $247,000. Union Bancaire Privee UBP SA boosted its holdings in SLB by 736.2% during the second quarter. Union Bancaire Privee UBP SA now owns 79,325 shares of the oil and gas company’s stock worth $3,517,000 after purchasing an additional 69,839 shares during the last quarter. Finally, Ipswich Investment Management Co. Inc. grew its position in SLB by 6.0% in the second quarter. Ipswich Investment Management Co. Inc. now owns 9,405 shares of the oil and gas company’s stock valued at $437,000 after purchasing an additional 535 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SLB shares. BMO Capital Markets lifted their price target on shares of SLB from $59.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Evercore restated an “outperform” rating and set a $66.00 price objective on shares of SLB in a research note on Monday, July 27th. Raymond James Financial lowered their target price on SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. Barclays upped their target price on SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Finally, Sanford C. Bernstein increased their price target on SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. 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 given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.35.

SLB Stock Down 1.2%

SLB opened at $51.99 on Friday. The stock’s fifty day simple moving average is $49.54 and its 200 day simple moving average is $51.07. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The stock has a market cap of $77.16 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 3.47 and a beta of 0.73. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41.

SLB (NYSE:SLB) last released its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. SLB had a net margin of 8.53% and a return on equity of 14.05%. The firm had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $8.67 billion. During the same period in the previous year, the business posted $0.74 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, research analysts expect that SLB Limited will post 2.5 earnings per share for the current year.

SLB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio (DPR) is currently 57.00%.

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.