SLB Limited $SLB Shares Sold by Man Group plc

Man Group plc reduced its stake in SLB Limited (NYSE:SLB) by 36.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 330,005 shares of the oil and gas company’s stock after selling 186,257 shares during the period. Man Group plc’s holdings in SLB were worth $15,342,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Brighton Jones LLC lifted its position in SLB by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after acquiring an additional 1,166 shares during the last quarter. Bison Wealth LLC acquired a new stake in shares of SLB during the fourth quarter worth about $238,000. Marshall Wace LLP purchased a new stake in shares of SLB in the 2nd quarter valued at about $8,628,000. Nebula Research & Development LLC boosted its position in shares of SLB by 76.0% in the 2nd quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company’s stock valued at $824,000 after purchasing an additional 10,522 shares during the period. Finally, Diversify Advisory Services LLC boosted its position in shares of SLB by 7.6% in the 2nd quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company’s stock valued at $373,000 after purchasing an additional 799 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Morgan Stanley lifted their price target on SLB from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Wolfe Research assumed coverage on shares of SLB in a research report on Wednesday, July 8th. They set an “outperform” rating and a $62.00 target price on the stock. Citigroup cut their target price on shares of SLB from $68.00 to $63.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Stifel Nicolaus upped their price target on shares of SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Finally, Barclays increased their price target on shares of SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Two research 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 given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.35.

SLB Stock Up 2.7%

SLB opened at $55.06 on Friday. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The business has a 50 day moving average price of $49.52 and a two-hundred day moving average price of $51.37. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The company has a market cap of $81.72 billion, a PE ratio of 26.60, a P/E/G ratio of 3.54 and a beta of 0.73.

SLB (NYSE:SLB) last announced its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The company had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.The company’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the business posted $0.74 EPS. As a group, research analysts anticipate that SLB Limited will post 2.5 EPS for the current year.

SLB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio (DPR) is 57.00%.

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.