Corient Private Wealth LP Has $37.48 Million Holdings in SLB Limited $SLB

Corient Private Wealth LP boosted its stake in shares of SLB Limited (NYSE:SLB) by 8.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 806,158 shares of the oil and gas company’s stock after purchasing an additional 63,233 shares during the quarter. Corient Private Wealth LP’s holdings in SLB were worth $37,479,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of SLB by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after acquiring an additional 1,166 shares in the last quarter. Bison Wealth LLC acquired a new stake in SLB during the 4th quarter valued at $238,000. Marshall Wace LLP acquired a new stake in SLB during the 2nd quarter valued at $8,628,000. Nebula Research & Development LLC lifted its holdings in shares of SLB by 76.0% in the second quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company’s stock valued at $824,000 after purchasing an additional 10,522 shares in the last quarter. Finally, Diversify Advisory Services LLC lifted its holdings in shares of SLB by 7.6% in the second quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company’s stock valued at $373,000 after purchasing an additional 799 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SLB shares. Citigroup lowered their price target on SLB from $68.00 to $63.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Stifel Nicolaus increased their price objective on SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. BMO Capital Markets raised their price objective on SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Susquehanna lifted their target price on SLB from $55.00 to $62.00 and gave the company a “positive” rating in a research note on Monday, July 27th. Finally, TD Cowen upped their target price on SLB from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, SLB presently has an average rating of “Moderate Buy” and an average target price of $61.35.

SLB Trading Up 2.7%

SLB stock opened at $55.06 on Friday. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. 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 stock has a market cap of $81.72 billion, a P/E ratio of 26.60, a P/E/G ratio of 3.54 and a beta of 0.73. The company’s fifty day simple moving average is $49.52 and its 200-day simple moving average is $51.37.

SLB (NYSE:SLB) last announced 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 business had revenue of $8.97 billion during the quarter, compared to analyst estimates of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.During the same period last year, the company earned $0.74 earnings per share. SLB’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts forecast that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

The company 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 dividend of $0.295 per share. 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 2.1%. SLB’s dividend payout ratio (DPR) is 57.00%.

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.