Caisse de depot et placement du Quebec Purchases 321,526 Shares of SLB Limited $SLB

Caisse de depot et placement du Quebec increased its position in SLB Limited (NYSE:SLB) by 62.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 837,768 shares of the oil and gas company’s stock after buying an additional 321,526 shares during the period. Caisse de depot et placement du Quebec’s holdings in SLB were worth $38,948,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in SLB by 1.0% in the 4th quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company’s stock worth $3,263,998,000 after acquiring an additional 799,218 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of SLB by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company’s stock valued at $2,072,844,000 after acquiring an additional 1,458,650 shares during the last quarter. Morgan Stanley boosted its position in shares of SLB by 1.3% during the 4th quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company’s stock valued at $1,423,716,000 after acquiring an additional 482,533 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of SLB by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock valued at $1,292,993,000 after acquiring an additional 510,747 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of SLB in the second quarter valued at $1,339,567,000. 81.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SLB shares. Susquehanna boosted their price target on shares of SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a research report on Monday, July 27th. Evercore reissued an “outperform” rating and issued a $66.00 price objective on shares of SLB in a research note on Monday, July 27th. Raymond James Financial reduced their target price on shares of SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. Piper Sandler upped their target price on shares of SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of SLB in a report on Monday, August 3rd. Two 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.35.

SLB Trading Up 4.3%

SLB opened at $57.40 on Friday. 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 stock’s 50 day moving average price is $49.70 and its 200-day moving average price is $51.41. SLB Limited has a one year low of $31.64 and a one year high of $58.82. The stock has a market cap of $85.19 billion, a price-to-earnings ratio of 27.73, a P/E/G ratio of 3.63 and a beta of 0.73.

SLB (NYSE:SLB) last issued its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, topping 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 period last year, the company earned $0.74 EPS. SLB’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities analysts forecast that SLB Limited will post 2.5 EPS for the current year.

SLB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Wednesday, September 2nd will be paid a $0.295 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a yield of 2.1%. 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.