Van ECK Associates Corp decreased its stake in SLB Limited (NYSE:SLB – Free Report) by 3.7% during the second quarter, Holdings Channel reports. The institutional investor owned 10,261,541 shares of the oil and gas company’s stock after selling 398,423 shares during the quarter. Van ECK Associates Corp’s holdings in SLB were worth $477,059,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SLB. Abel Hall LLC lifted its holdings in SLB by 2.7% in the first quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock valued at $387,000 after acquiring an additional 198 shares during the period. E Fund Management Co. Ltd. grew its stake in shares of SLB by 3.6% during the 2nd quarter. E Fund Management Co. Ltd. now owns 5,712 shares of the oil and gas company’s stock worth $266,000 after purchasing an additional 199 shares during the period. Private Wealth Asset Management LLC increased its holdings in shares of SLB by 4.1% during the 4th quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock valued at $193,000 after purchasing an additional 200 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of SLB by 9.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock valued at $129,000 after purchasing an additional 214 shares in the last quarter. Finally, Ballentine Partners LLC lifted its stake in shares of SLB by 2.2% in the 4th quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock valued at $395,000 after purchasing an additional 218 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating and set a $66.00 price target on shares of SLB in a report on Sunday, July 26th. Wolfe Research initiated coverage on shares of SLB in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price objective for the company. Susquehanna increased 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. Weiss Ratings restated a “hold (c)” rating on shares of SLB in a research report on Monday, August 3rd. Finally, BMO Capital Markets upped their price target on SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, SLB has a consensus rating of “Moderate Buy” and a consensus price target of $61.35.
SLB Price Performance
Shares of NYSE SLB opened at $57.40 on Friday. 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 firm has a fifty day moving average of $49.70 and a 200 day moving average of $51.41. The firm has a market cap of $85.19 billion, a PE ratio of 27.73, a PEG ratio of 3.63 and a beta of 0.73. SLB Limited has a one year low of $31.64 and a one year high of $58.82.
SLB (NYSE:SLB – Get Free Report) 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, 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 last year, the firm posted $0.74 earnings per share. The company’s revenue was up 5.0% compared to the same quarter last year. As a group, research analysts predict that SLB Limited will post 2.5 EPS for the current fiscal year.
SLB Dividend Announcement
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 paid a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a yield of 2.1%. 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.
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