Osmosis Investment Management UK Ltd Sells 49,344 Shares of SLB Limited $SLB

Osmosis Investment Management UK Ltd cut its holdings in SLB Limited (NYSE:SLB) by 69.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 21,682 shares of the oil and gas company’s stock after selling 49,344 shares during the quarter. Osmosis Investment Management UK Ltd’s holdings in SLB were worth $1,008,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Evergreen Advisors LLC bought a new stake in SLB in the 1st quarter valued at about $26,000. Costello Asset Management INC grew its position in shares of SLB by 93.3% during the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 280 shares in the last quarter. Arlington Trust Co LLC increased its holdings in shares of SLB by 66.5% during the second quarter. Arlington Trust Co LLC now owns 701 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 280 shares during the period. MV Capital Management Inc. bought a new position in shares of SLB during the fourth quarter worth approximately $28,000. Finally, Maryland Capital Advisors Inc. acquired a new stake in shares of SLB in the second quarter valued at approximately $35,000. 81.99% of the stock is owned by institutional investors.

SLB Stock Performance

Shares of SLB stock opened at $53.99 on Tuesday. The company has a 50 day moving average of $49.30 and a 200-day moving average of $51.29. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. 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 market cap of $80.14 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 3.55 and a beta of 0.73.

SLB (NYSE:SLB) last posted its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. The business 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 firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. As a group, equities research analysts forecast that SLB Limited will post 2.5 earnings per share for the current fiscal 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 issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend 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%.

Analyst Ratings Changes

SLB has been the subject of several recent research reports. Barclays boosted their price target on SLB from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Jefferies Financial Group restated a “buy” rating and set a $66.00 price objective on shares of SLB in a research note on Sunday, July 26th. JPMorgan Chase & Co. lifted their price objective on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, April 27th. BMO Capital Markets upped their target price on SLB from $59.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Finally, Zacks Research lowered SLB from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, SLB currently has an average rating of “Moderate Buy” and an average target price 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.