QRG Capital Management Inc. Raises Stock Position in SLB Limited $SLB

QRG Capital Management Inc. raised its position in SLB Limited (NYSE:SLB) by 29.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 149,030 shares of the oil and gas company’s stock after acquiring an additional 33,951 shares during the period. QRG Capital Management Inc.’s holdings in SLB were worth $6,928,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Abel Hall LLC grew its position in SLB by 2.7% in the first quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock worth $387,000 after acquiring an additional 198 shares during the period. Private Wealth Asset Management LLC raised its position in SLB by 4.1% in the fourth 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 during the period. Capital Advisors Ltd. LLC raised its position in SLB by 9.3% in the first quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock valued at $129,000 after purchasing an additional 214 shares during the period. Ballentine Partners LLC lifted its stake in shares of SLB by 2.2% in the 4th quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock valued at $395,000 after purchasing an additional 218 shares during the last quarter. Finally, Davis Capital Management lifted its stake in shares of SLB by 1.0% in the 1st quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company’s stock valued at $1,129,000 after purchasing an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SLB shares. Barclays raised their price objective on SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. TD Cowen increased their target price on shares of SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Raymond James Financial dropped their price target on shares of SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Weiss Ratings reissued a “hold (c)” rating on shares of SLB in a research note on Monday, August 3rd. Finally, Evercore restated an “outperform” rating and issued a $66.00 price objective on shares of SLB in a report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.35.

SLB Stock Down 1.9%

Shares of NYSE:SLB opened at $52.66 on Thursday. 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 firm has a market capitalization of $78.15 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 3.54 and a beta of 0.73. The firm’s 50-day moving average is $49.67 and its two-hundred day moving average is $51.04. SLB Limited has a 1 year low of $31.64 and a 1 year high of $58.82.

SLB (NYSE:SLB) last posted its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $8.97 billion during 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 business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 earnings per share. Analysts predict that SLB Limited will post 2.5 EPS for the current year.

SLB Dividend Announcement

The firm 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 $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB’s dividend payout ratio (DPR) is currently 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.