SLB Limited $SLB is Canoe Financial LP’s 2nd Largest Position

Canoe Financial LP lifted its position in shares of SLB Limited (NYSE:SLB) by 82.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 7,730,966 shares of the oil and gas company’s stock after purchasing an additional 3,489,344 shares during the period. SLB makes up approximately 4.4% of Canoe Financial LP’s holdings, making the stock its 2nd biggest holding. Canoe Financial LP’s holdings in SLB were worth $358,936,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SLB. Abel Hall LLC boosted its holdings 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 valued at $387,000 after acquiring an additional 198 shares during the last quarter. Private Wealth Asset Management LLC increased its stake in SLB by 4.1% during the fourth quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock worth $193,000 after acquiring an additional 200 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of SLB by 9.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock worth $129,000 after purchasing an additional 214 shares during the period. Ballentine Partners LLC raised its holdings 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 worth $395,000 after purchasing an additional 218 shares during the period. 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 in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

SLB Stock Performance

Shares of SLB stock opened at $51.99 on Friday. The firm has a market capitalization of $77.16 billion, a P/E ratio of 25.12, a P/E/G ratio of 3.47 and a beta of 0.73. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. 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 company’s fifty day moving average price is $49.54 and its two-hundred day moving average price is $51.07.

SLB (NYSE:SLB) last announced its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. SLB had a net margin of 8.53% and a return on equity of 14.05%. The company had revenue of $8.97 billion during the quarter, compared to analyst estimates of $8.67 billion. During the same period last year, the business earned $0.74 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, research analysts anticipate that SLB Limited will post 2.5 earnings per share for the current fiscal year.

SLB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB’s payout ratio is 57.00%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SLB shares. Wolfe Research assumed coverage on SLB in a report on Wednesday, July 8th. They set an “outperform” rating and a $62.00 target price for the company. BMO Capital Markets raised their price target on shares of SLB from $59.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of SLB in a research report on Tuesday, June 16th. JPMorgan Chase & Co. increased their price objective on shares of SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Finally, Stifel Nicolaus increased their price objective on shares of SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Two equities 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. Based on data from MarketBeat, SLB currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.35.

About SLB

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.