603,972 Shares in SLB Limited $SLB Purchased by Nykredit A S

Nykredit A S purchased a new stake in SLB Limited (NYSE:SLB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 603,972 shares of the oil and gas company’s stock, valued at approximately $28,079,000.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new stake in shares of SLB during the second quarter worth approximately $1,339,567,000. Norges Bank acquired a new position in shares of SLB in the fourth quarter valued at approximately $809,557,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of SLB by 6,358.2% during the second 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 worth $471,164,000 after purchasing an additional 9,977,804 shares during the period. Wellington Management Group LLP increased its stake in shares of 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 worth $638,473,000 after purchasing an additional 5,589,585 shares during the period. Finally, State Street Corp lifted its holdings 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 purchasing an additional 5,466,786 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

SLB Trading Down 1.1%

Shares of NYSE:SLB opened at $57.51 on Friday. The company has a market capitalization of $85.35 billion, a P/E ratio of 27.78, a P/E/G ratio of 3.31 and a beta of 0.76. SLB Limited has a 1 year low of $31.64 and a 1 year high of $60.46. 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 business’s 50 day simple moving average is $50.56 and its 200 day simple moving average is $51.63.

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

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors 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 dividend on an annualized basis and a dividend yield of 2.1%. SLB’s dividend payout ratio (DPR) is presently 57.00%.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of research reports. Wolfe Research began coverage on SLB in a report on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price objective on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $61.00 target price on shares of SLB in a report on Tuesday, June 16th. Stifel Nicolaus boosted their target price on shares of SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Evercore restated an “outperform” rating and issued a $66.00 price target on shares of SLB in a research note on Monday, July 27th. Finally, Citigroup lowered 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. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, SLB presently has an average rating of “Moderate Buy” and an average price target of $61.35.

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.