UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stake in SLB Limited $SLB

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of SLB Limited (NYSE:SLB) by 6,358.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,134,731 shares of the oil and gas company’s stock after buying an additional 9,977,804 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in SLB were worth $471,164,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SLB. Abel Hall LLC lifted its holdings in shares of SLB by 2.7% in the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock valued at $387,000 after buying an additional 198 shares during the period. E Fund Management Co. Ltd. increased its holdings in shares of SLB by 3.6% during the 2nd quarter. E Fund Management Co. Ltd. now owns 5,712 shares of the oil and gas company’s stock valued at $266,000 after purchasing an additional 199 shares in the last quarter. Private Wealth Asset Management LLC increased its holdings in shares of SLB by 4.1% during the 4th quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock valued at $193,000 after purchasing an additional 200 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in SLB by 9.3% during the first quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock worth $129,000 after buying an additional 214 shares in the last quarter. Finally, Ballentine Partners LLC grew its position in SLB by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock valued at $395,000 after buying an additional 218 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Trading Up 0.1%

Shares of SLB stock opened at $57.40 on Monday. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. The company has a fifty day simple moving average of $49.70 and a 200-day simple moving average of $51.41. The stock has a market cap of $85.19 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 3.78 and a beta of 0.73. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82.

SLB (NYSE:SLB) last announced its quarterly earnings results 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. The firm had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. SLB’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 earnings per share. On average, equities analysts forecast that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders 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 annualized dividend and a yield of 2.1%. SLB’s payout ratio is 57.00%.

Wall Street Analysts Forecast Growth

SLB has been the topic of several recent analyst reports. Citigroup lowered their target price on shares of SLB from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 price objective on shares of SLB in a report on Sunday, July 26th. Stifel Nicolaus boosted their price target on SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Sanford C. Bernstein increased 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, Evercore reiterated an “outperform” rating and set a $66.00 price target on shares of SLB in a report on Monday, July 27th. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average 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.