Jennison Associates LLC Purchases 151,404 Shares of SLB Limited $SLB

Jennison Associates LLC lifted its position in shares of SLB Limited (NYSE:SLB) by 68.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 374,093 shares of the oil and gas company’s stock after purchasing an additional 151,404 shares during the period. Jennison Associates LLC’s holdings in SLB were worth $19,225,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC grew its position in shares of SLB by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after buying an additional 1,166 shares during the last quarter. Bison Wealth LLC purchased a new position in shares of SLB during the fourth quarter valued at approximately $238,000. Marshall Wace LLP bought a new stake in shares of SLB in the 2nd quarter worth approximately $8,628,000. Nebula Research & Development LLC boosted its position in shares of 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 worth $824,000 after purchasing an additional 10,522 shares in the last quarter. Finally, Diversify Advisory Services LLC grew its stake in shares of 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 worth $373,000 after buying an additional 799 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SLB. Stifel Nicolaus lifted their price objective on SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. JPMorgan Chase & Co. increased their target price on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings downgraded SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Evercore reaffirmed an “outperform” rating and issued a $64.00 price target on shares of SLB in a research report on Monday, April 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 price target on shares of SLB in a research note on Sunday, April 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.30.

SLB Trading Up 0.5%

Shares of SLB stock opened at $46.62 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The company has a market cap of $69.70 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 1.87 and a beta of 0.72. SLB Limited has a 1 year low of $31.64 and a 1 year high of $58.82. The firm has a fifty day moving average price of $51.54 and a 200-day moving average price of $50.42.

SLB (NYSE:SLB) last announced its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.SLB’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.72 EPS. As a group, equities analysts predict that SLB Limited will post 2.53 earnings per share for the current year.

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd were paid a dividend of $0.295 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.5%. SLB’s dividend payout ratio is presently 51.53%.

Insider Buying and Selling at SLB

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the sale, the director owned 16,953 shares in the company, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the transaction, the executive vice president directly owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by company insiders.

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.