Hendley & Co. Inc. Raises Stock Position in SLB Limited $SLB

Hendley & Co. Inc. lifted its holdings in shares of SLB Limited (NYSE:SLB) by 47.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,540 shares of the oil and gas company’s stock after acquiring an additional 37,420 shares during the quarter. SLB comprises approximately 1.9% of Hendley & Co. Inc.’s holdings, making the stock its 22nd biggest holding. Hendley & Co. Inc.’s holdings in SLB were worth $5,418,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SLB. Brighton Jones LLC raised its position in SLB by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 1,166 shares during the period. Bison Wealth LLC purchased a new stake in shares of SLB in the fourth quarter worth about $238,000. Marshall Wace LLP acquired a new stake in shares of SLB in the second quarter valued at about $8,628,000. Nebula Research & Development LLC grew its stake in shares of SLB by 76.0% in the second quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company’s stock valued at $824,000 after buying an additional 10,522 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its holdings in shares of SLB by 7.6% during the 2nd quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company’s stock valued at $373,000 after buying an additional 799 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on SLB. Royal Bank Of Canada reissued an “outperform” rating and set a $61.00 price target on shares of SLB in a research report on Tuesday, June 16th. Evercore reaffirmed an “outperform” rating and issued a $66.00 price objective on shares of SLB in a research report on Monday, July 27th. Morgan Stanley lifted their price objective on shares of SLB from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. TD Cowen boosted their target price on shares of SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Finally, Sanford C. Bernstein upped their target price on shares of SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.35.

SLB Trading Down 1.9%

NYSE:SLB opened at $52.66 on Thursday. The stock has a market cap of $78.15 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 3.54 and a beta of 0.73. SLB Limited has a one year low of $31.64 and a one year high of $58.82. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. The business’s 50-day simple moving average is $49.67 and its 200 day simple moving average is $51.04.

SLB (NYSE:SLB) last issued its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. SLB had a return on equity of 14.05% and a net margin of 8.53%.The firm had revenue of $8.97 billion during the quarter, compared to analyst estimates of $8.67 billion. During the same quarter last year, the firm earned $0.74 EPS. SLB’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts predict that SLB Limited will post 2.5 earnings per share for the current fiscal year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be given 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 2.2%. SLB’s dividend payout ratio (DPR) is presently 57.00%.

SLB Company 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.