Cibc World Market Inc. trimmed its position in SLB Limited (NYSE:SLB – Free Report) by 17.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,032,631 shares of the oil and gas company’s stock after selling 215,422 shares during the period. Cibc World Market Inc.’s holdings in SLB were worth $48,007,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of SLB. Brighton Jones LLC lifted its position in shares of SLB by 21.4% in the fourth 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 purchased a new stake in shares of SLB during the fourth quarter worth approximately $238,000. Marshall Wace LLP purchased a new stake in shares of SLB during the second quarter worth approximately $8,628,000. Nebula Research & Development LLC raised its stake in SLB by 76.0% in the 2nd 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 during the last quarter. Finally, Diversify Advisory Services LLC raised its stake in SLB by 7.6% in 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 purchasing an additional 799 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.
SLB Trading Up 0.1%
Shares of SLB stock opened at $53.90 on Monday. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The firm has a market cap of $80.00 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 3.55 and a beta of 0.73. The company has a 50-day moving average of $49.30 and a two-hundred day moving average of $51.26. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05.
SLB Announces Dividend
The firm 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 $0.295 dividend. 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%.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 target price on shares of SLB in a research note on Sunday, July 26th. Zacks Research lowered shares of SLB from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. Barclays increased their price objective on shares of SLB from $64.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Morgan Stanley boosted their target price on SLB from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $61.00 price target on shares of SLB in a research report on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, SLB has an average rating of “Moderate Buy” and an average target price of $61.35.
Get Our Latest Stock Analysis on SLB
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.
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