Valeo Financial Advisors LLC Purchases 10,253 Shares of SLB Limited $SLB

Valeo Financial Advisors LLC boosted its position in shares of SLB Limited (NYSE:SLB) by 76.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,606 shares of the oil and gas company’s stock after acquiring an additional 10,253 shares during the period. Valeo Financial Advisors LLC’s holdings in SLB were worth $1,097,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on SLB from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. BMO Capital Markets boosted their price target on SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. JPMorgan Chase & Co. upped their price objective on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Piper Sandler increased their price objective on shares of SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Finally, Susquehanna lifted their target price on shares of SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a research note on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.35.

SLB Stock Performance

SLB opened at $53.07 on Tuesday. 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 Limited has a 12-month low of $31.64 and a 12-month high of $58.82. The firm has a 50 day moving average of $49.81 and a two-hundred day moving average of $50.98. The firm has a market capitalization of $78.76 billion, a PE ratio of 25.64, a P/E/G ratio of 3.34 and a beta of 0.73.

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, beating the consensus estimate of $0.51 by $0.04. SLB had a net margin of 8.53% and a return on equity of 14.05%. The business had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same period in the prior year, the firm earned $0.74 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts anticipate that SLB Limited will post 2.5 EPS for the current year.

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Wednesday, September 2nd will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB’s dividend payout ratio (DPR) is currently 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.