Birmingham Capital Management Co. Inc. AL Invests $1.31 Million in SLB Limited $SLB

Birmingham Capital Management Co. Inc. AL bought a new stake in SLB Limited (NYSE:SLB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 28,100 shares of the oil and gas company’s stock, valued at approximately $1,306,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SLB. Abel Hall LLC increased 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 valued at $387,000 after purchasing an additional 198 shares in the last quarter. E Fund Management Co. Ltd. raised its position in SLB by 3.6% in 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 purchasing an additional 199 shares during the period. Private Wealth Asset Management LLC lifted 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 worth $193,000 after purchasing an additional 200 shares in the last quarter. Capital Advisors Ltd. LLC lifted its stake 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 worth $129,000 after purchasing an additional 214 shares in the last quarter. Finally, Ballentine Partners LLC boosted its position in shares of SLB by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock worth $395,000 after buying an additional 218 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Key Headlines Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: New North Sea carbon-storage contract: SLB was selected as strategic reservoir partner for Norway’s Havstjerne carbon-storage project. The company will provide reservoir technology and engineering services during the concept and front-end engineering and design phases, strengthening its position in Europe’s emerging carbon-capture and storage market. SLB selected as reservoir partner for Havstjerne carbon storage project
• Positive Sentiment: Potential Venezuelan growth opportunity: A contract with Venezuela’s state-run PDVSA reportedly gives SLB access to the country’s oilfield data. Access to data from one of the world’s largest oil-reserve holders could create opportunities for future reservoir evaluation, production optimization and oilfield-services work, though the commercial benefits remain uncertain. SLB gains access to Venezuela’s coveted oilfield data through contract
• Neutral Sentiment: CEO share sale: Chief Executive Olivier Le Peuch sold 25,000 SLB shares under a prearranged Rule 10b5-1 trading plan. Because the transaction was scheduled in advance, it does not necessarily signal a change in management’s view of the company, but it can still attract investor attention. SLB CEO Olivier Le Peuch executes sale of 25,000 shares
• Negative Sentiment: Recent trading weakness: SLB declined in the prior session even as the broader market advanced, indicating some relative investor caution despite the new project announcements. SLB stock falls amid market uptick

Wall Street Analyst Weigh In

SLB has been the subject of a number of recent research reports. BMO Capital Markets increased their target price on SLB from $59.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Morgan Stanley increased their price objective on shares of SLB from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Sanford C. Bernstein lifted their price objective on shares of SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Jefferies Financial Group reissued a “buy” rating and set a $66.00 target price on shares of SLB in a research report on Sunday, July 26th. Finally, Susquehanna upped their target price on shares of SLB from $55.00 to $62.00 and gave the company a “positive” rating in a research note on Monday, July 27th. Two 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 given a Sell rating to the company. Based on data from MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and a consensus price target of $61.35.

SLB Trading Up 0.7%

Shares of SLB opened at $53.66 on Thursday. The company has a market capitalization of $79.64 billion, a P/E ratio of 25.92, a P/E/G ratio of 3.52 and a beta of 0.73. SLB Limited has a one year low of $31.64 and a one year high of $58.82. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. The stock has a 50-day moving average price of $49.38 and a 200 day moving average price of $51.34.

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. SLB had a return on equity of 14.05% and a net margin of 8.53%.The company had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same period in the previous year, the business earned $0.74 EPS. SLB’s revenue for the quarter was up 5.0% compared to the same quarter last year. Sell-side analysts forecast that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 2.2%. SLB’s dividend payout ratio 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.