Nykredit A S purchased a new position in shares of SLB Limited (NYSE:SLB – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 603,972 shares of the oil and gas company’s stock, valued at approximately $28,079,000.
Several other hedge funds also recently made changes to their positions in SLB. Bank of New York Mellon Corp acquired a new position in SLB during the second quarter worth $1,339,567,000. Norges Bank acquired a new stake in SLB in the 4th quarter valued at $809,557,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in SLB by 6,358.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,134,731 shares of the oil and gas company’s stock valued at $471,164,000 after buying an additional 9,977,804 shares during the last quarter. Wellington Management Group LLP lifted its position in SLB by 50.6% during the 4th quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company’s stock worth $638,473,000 after buying an additional 5,589,585 shares in the last quarter. Finally, State Street Corp lifted its position in SLB by 7.0% during the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock worth $2,898,037,000 after buying an additional 5,466,786 shares in the last quarter. 81.99% of the stock is owned by institutional investors.
Analyst Ratings Changes
SLB has been the subject of several analyst reports. Zacks Research upgraded SLB from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Sanford C. Bernstein reiterated an “outperform” rating on shares of SLB in a report on Tuesday. Stifel Nicolaus increased their price target on SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Susquehanna boosted their price target on SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a research report on Monday, July 27th. Finally, Barclays upped their price objective on SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Two research 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 stock. Based on data from MarketBeat, SLB has an average rating of “Moderate Buy” and an average target price of $61.35.
SLB Stock Down 1.1%
Shares of SLB stock opened at $57.51 on Friday. SLB Limited has a 52-week low of $31.64 and a 52-week high of $60.46. The stock has a market cap of $85.35 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 3.31 and a beta of 0.76. The firm’s 50-day moving average is $50.56 and its 200-day moving average is $51.63. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44.
SLB (NYSE:SLB – Get Free Report) last announced its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.The business’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 earnings per share. Sell-side analysts predict that SLB Limited will post 2.5 EPS for the current year.
SLB Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be issued a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. SLB’s payout ratio is presently 57.00%.
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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