SLB Limited $SLB Shares Bought by Saudi Central Bank

Saudi Central Bank boosted its holdings in shares of SLB Limited (NYSE:SLB) by 90.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,079 shares of the oil and gas company’s stock after purchasing an additional 49,937 shares during the quarter. Saudi Central Bank’s holdings in SLB were worth $4,885,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Evergreen Advisors LLC acquired a new stake in shares of SLB during the 1st quarter valued at approximately $26,000. MV Capital Management Inc. acquired a new position in SLB during the 4th quarter worth $28,000. Costello Asset Management INC boosted its holdings in shares of SLB by 93.3% in the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 280 shares in the last quarter. Lloyd Advisory Services LLC. bought a new position in SLB during the 4th quarter valued at $31,000. Finally, Bruce G. Allen Investments LLC raised its position in SLB by 37.0% in the fourth quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 227 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Trading Down 0.1%

Shares of SLB opened at $57.45 on Monday. The stock has a market cap of $85.26 billion, a PE ratio of 27.75, a PEG ratio of 3.27 and a beta of 0.76. The stock has a 50 day simple moving average of $50.77 and a 200-day simple moving average of $51.68. SLB Limited has a 1 year low of $31.64 and a 1 year high of $60.46. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41.

SLB (NYSE:SLB) last released its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $8.97 billion for 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 company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 earnings per share. On average, sell-side analysts predict that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Dividend Announcement

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 dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio is presently 57.00%.

Analysts Set New Price Targets

SLB has been the subject of several research reports. Jefferies Financial Group reissued a “buy” rating and set a $66.00 price objective on shares of SLB in a research note on Sunday, July 26th. Wolfe Research started coverage on shares of SLB in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 target price for the company. Morgan Stanley increased their price objective on SLB from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Sanford C. Bernstein reiterated an “outperform” rating on shares of SLB in a report on Tuesday, September 1st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of SLB in a research report on Tuesday, June 16th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.35.

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.