Friedenthal Financial Buys New Shares in SLB Limited $SLB

Friedenthal Financial purchased a new stake in shares of SLB Limited (NYSE:SLB) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 23,069 shares of the oil and gas company’s stock, valued at approximately $1,072,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank acquired a new position in SLB during the fourth quarter valued at $809,557,000. Bank of New York Mellon Corp raised its position in SLB by 56.8% during the first quarter. Bank of New York Mellon Corp now owns 24,615,243 shares of the oil and gas company’s stock valued at $1,264,977,000 after acquiring an additional 8,918,412 shares in the last quarter. Wellington Management Group LLP raised its position in SLB by 50.6% during the fourth quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company’s stock valued at $638,473,000 after acquiring an additional 5,589,585 shares in the last quarter. State Street Corp lifted its holdings 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 acquiring an additional 5,466,786 shares during the period. Finally, Capital International Investors lifted its holdings in SLB by 86.9% in the fourth quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock valued at $446,247,000 after acquiring an additional 5,404,948 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SLB shares. Wolfe Research initiated coverage on shares of SLB in a report on Wednesday, July 8th. They set an “outperform” rating and a $62.00 target price for the company. 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 report on Monday, July 27th. Citigroup dropped their price target on shares of SLB from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Sanford C. Bernstein lifted their price objective on shares of SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, Morgan Stanley upped their price objective 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 research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $61.35.

SLB Trading Down 1.9%

Shares of SLB stock opened at $52.66 on Thursday. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The company has a market cap of $78.15 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 3.54 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 stock has a 50 day simple moving average of $49.67 and a 200-day simple moving average of $51.04.

SLB (NYSE:SLB) last issued its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. The company had revenue of $8.97 billion during the quarter, compared to analyst estimates of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 EPS. On average, equities research analysts expect that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be given a $0.295 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. SLB’s dividend payout ratio (DPR) is 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.