Wellington Management Group LLP reduced its position in SLB Limited (NYSE:SLB – Free Report) by 5.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 12,351,512 shares of the oil and gas company’s stock after selling 779,552 shares during the period. Wellington Management Group LLP’s holdings in SLB were worth $574,222,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of SLB. Bank of New York Mellon Corp acquired a new stake in shares of SLB during the second quarter worth $1,339,567,000. Norges Bank acquired a new position in SLB in the fourth quarter valued at $809,557,000. State Street Corp increased its stake in SLB by 7.0% in the third quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock valued at $2,898,037,000 after purchasing an additional 5,466,786 shares during the last quarter. Capital International Investors lifted its position in SLB by 86.9% during the fourth quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock worth $446,247,000 after buying an additional 5,404,948 shares during the period. Finally, Cardano Risk Management B.V. acquired a new stake in SLB in the 2nd quarter worth about $185,474,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.
SLB Stock Performance
Shares of NYSE:SLB opened at $57.40 on Friday. The firm has a market capitalization of $85.19 billion, a PE ratio of 27.73, a P/E/G ratio of 3.78 and a beta of 0.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05. The business has a 50-day moving average of $49.70 and a two-hundred day moving average of $51.41. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82.
SLB Announces Dividend
The firm 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 is Wednesday, September 2nd. This represents a $1.18 annualized dividend and a yield of 2.1%. SLB’s dividend payout ratio (DPR) is presently 57.00%.
Analysts Set New Price Targets
SLB has been the subject of several recent analyst reports. UBS Group lowered their price target on SLB from $69.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Sanford C. Bernstein raised their target price on shares of SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Royal Bank Of Canada restated an “outperform” rating and issued a $61.00 target price on shares of SLB in a report on Tuesday, June 16th. Barclays upped their price target on shares of SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Finally, TD Cowen increased their price target on shares of SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.35.
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.
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