SLB Limited $SLB Stock Holdings Trimmed by Great Lakes Advisors LLC

Great Lakes Advisors LLC lessened its holdings in shares of SLB Limited (NYSE:SLB) by 12.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,451,300 shares of the oil and gas company’s stock after selling 212,048 shares during the quarter. Great Lakes Advisors LLC’s holdings in SLB were worth $67,471,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Danica Pension Livsforsikringsaktieselskab acquired a new position in shares of SLB during the second quarter valued at $8,423,000. Danske Bank A S lifted its holdings in SLB by 2,928.3% in the second quarter. Danske Bank A S now owns 2,825,743 shares of the oil and gas company’s stock worth $131,369,000 after purchasing an additional 2,732,433 shares during the period. Diversify Advisory Services LLC bought a new position in SLB in the 2nd quarter valued at about $2,269,000. Gables Capital Management Inc. increased its stake in SLB by 47.6% during the 2nd quarter. Gables Capital Management Inc. now owns 1,550 shares of the oil and gas company’s stock valued at $72,000 after buying an additional 500 shares during the period. Finally, Citizens Financial Group Inc. RI acquired a new position in SLB during the 2nd quarter valued at about $793,000. Institutional investors own 81.99% of the company’s stock.

SLB Price Performance

Shares of NYSE:SLB opened at $53.30 on Wednesday. The company has a market capitalization of $79.10 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 3.55 and a beta of 0.73. 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 has a fifty day moving average of $49.42 and a 200-day moving average of $51.15. SLB Limited has a one year low of $31.64 and a one year high of $58.82.

SLB (NYSE:SLB) last issued its 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. The business had revenue of $8.97 billion for 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. As a group, equities analysts anticipate that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

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 paid a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. SLB’s dividend payout ratio (DPR) is currently 57.00%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SLB shares. TD Cowen increased their price objective on shares of SLB from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, July 27th. Stifel Nicolaus boosted their target price on SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Royal Bank Of Canada restated an “outperform” rating and issued a $61.00 target price on shares of SLB in a research report on Tuesday, June 16th. Sanford C. Bernstein increased their price target on SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, Evercore reiterated an “outperform” rating and set a $66.00 price target on shares of SLB in a research report on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.