State Street Corp lifted its stake in shares of SLB Limited (NYSE:SLB – Free Report) by 0.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,222,641 shares of the oil and gas company’s stock after purchasing an additional 722,060 shares during the period. State Street Corp owned approximately 6.15% of SLB worth $4,267,269,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. First Eagle Investment Management LLC boosted its holdings in shares of SLB by 1.9% during the second quarter. First Eagle Investment Management LLC now owns 28,913,733 shares of the oil and gas company’s stock worth $1,344,199,000 after purchasing an additional 537,566 shares during the period. Bank of New York Mellon Corp acquired a new stake in SLB in the 2nd quarter valued at approximately $1,339,567,000. Geode Capital Management LLC increased its holdings in shares of SLB by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock worth $1,292,993,000 after purchasing an additional 510,747 shares during the period. Amundi raised its holdings in SLB by 15.8% in the 2nd quarter. Amundi now owns 19,815,245 shares of the oil and gas company’s stock valued at $921,211,000 after acquiring an additional 2,698,766 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in SLB by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 15,901,998 shares of the oil and gas company’s stock worth $817,246,000 after purchasing an additional 169,468 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.
Wall Street Analyst Weigh In
SLB has been the topic of several analyst reports. Susquehanna upped their target price on shares of SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a report on Monday, July 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SLB in a report on Monday, August 3rd. Evercore reiterated an “outperform” rating and issued a $66.00 price objective on shares of SLB in a research report on Monday, July 27th. UBS Group lifted their price target on SLB from $72.00 to $75.00 and gave the company a “buy” rating in a report on Monday, September 14th. Finally, Morgan Stanley upped their target price on shares of SLB from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.80.
SLB Stock Performance
Shares of NYSE SLB traded up $0.58 during mid-day trading on Tuesday, reaching $52.34. 6,141,409 shares of the company were exchanged, compared to its average volume of 16,260,939. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The company’s 50-day simple moving average is $52.54 and its 200-day simple moving average is $51.94. SLB Limited has a twelve month low of $31.64 and a twelve month high of $60.46. The stock has a market capitalization of $77.69 billion, a P/E ratio of 25.29, a P/E/G ratio of 2.91 and a beta of 0.76.
SLB (NYSE:SLB – Get Free Report) last announced its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $8.97 billion for the quarter, compared to analysts’ expectations of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. As a group, research analysts predict that SLB Limited will post 2.5 earnings per share for the current year.
SLB Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, September 2nd. SLB’s payout ratio is presently 57.00%.
SLB Profile
SLB, formerly known as Schlumberger Limited, is a global technology and services company serving the energy industry. The company provides equipment, technology and technical expertise that help oil and gas producers locate, drill, complete and operate wells, as well as manage reservoirs and production assets.
Its offerings include seismic and subsurface evaluation, drilling and well-construction services, well completion and stimulation, artificial lift, production optimization, intervention services, subsea production systems and digital solutions.
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