SLB Limited $SLB Shares Purchased by Nissay Asset Management Corp Japan

Nissay Asset Management Corp Japan increased its position in SLB Limited (NYSE:SLB) by 31.7% in the second quarter, HoldingsChannel.com reports. The fund owned 290,178 shares of the oil and gas company’s stock after buying an additional 69,884 shares during the period. Nissay Asset Management Corp Japan’s holdings in SLB were worth $13,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Evergreen Advisors LLC acquired a new position in shares of SLB in the first quarter valued at about $26,000. MV Capital Management Inc. acquired a new position in SLB in the 4th quarter worth approximately $28,000. Strategic Wealth Advisors LLC acquired a new position in SLB in the 4th quarter worth approximately $30,000. Costello Asset Management INC raised its position in SLB by 93.3% during the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after buying an additional 280 shares during the last quarter. Finally, Lloyd Advisory Services LLC. purchased a new position in SLB during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on SLB shares. Raymond James Financial dropped their price objective on shares of SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. Weiss Ratings reissued a “hold (c)” rating on shares of SLB in a report on Monday, August 3rd. UBS Group decreased their target price 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 upped their price target on shares of SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of SLB in a research report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.35.

SLB Trading Up 4.3%

SLB stock opened at $57.40 on Friday. The company’s 50-day simple moving average is $49.70 and its 200-day simple moving average is $51.41. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82. The firm has a market cap of $85.19 billion, a P/E ratio of 27.73, a PEG ratio of 3.78 and a beta of 0.73.

SLB (NYSE:SLB) last announced its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The firm 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%.SLB’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 EPS. As a group, equities analysts forecast that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

The firm also recently disclosed 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 is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. SLB’s payout ratio is 57.00%.

About SLB

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.