Danica Pension Livsforsikringsaktieselskab Acquires New Stake in SLB Limited $SLB

Danica Pension Livsforsikringsaktieselskab bought a new stake in SLB Limited (NYSE:SLB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 181,175 shares of the oil and gas company’s stock, valued at approximately $8,423,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Danske Bank A S grew its stake in shares of SLB by 2,928.3% during the 2nd quarter. Danske Bank A S now owns 2,825,743 shares of the oil and gas company’s stock valued at $131,369,000 after purchasing an additional 2,732,433 shares during the period. Diversify Advisory Services LLC bought a new position in shares of SLB in the 2nd quarter worth approximately $2,269,000. Gables Capital Management Inc. boosted its holdings in shares of SLB by 47.6% in the second quarter. Gables Capital Management Inc. now owns 1,550 shares of the oil and gas company’s stock worth $72,000 after buying an additional 500 shares during the last quarter. Citizens Financial Group Inc. RI purchased a new position in shares of SLB in the second quarter worth approximately $793,000. Finally, Trust Co. of Vermont bought a new stake in SLB during the second quarter valued at approximately $189,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SLB has been the subject of a number of research reports. Evercore reaffirmed an “outperform” rating and set a $66.00 target price on shares of SLB in a report on Monday, July 27th. Wolfe Research started coverage on shares of SLB in a research report on Wednesday, July 8th. They set an “outperform” rating and a $62.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of SLB in a research report on Monday, August 3rd. Susquehanna upped their price objective on SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a research note on Monday, July 27th. Finally, UBS Group decreased their target price on SLB from $69.00 to $66.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, SLB has a consensus rating of “Moderate Buy” and a consensus target price of $61.35.

SLB Price Performance

Shares of NYSE:SLB opened at $53.30 on Wednesday. The company has a market capitalization of $79.10 billion, a P/E ratio of 25.75, a P/E/G ratio of 3.55 and a beta of 0.73. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The firm’s 50 day simple moving average is $49.42 and its two-hundred day simple moving average is $51.15. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05.

SLB (NYSE:SLB) last announced its quarterly earnings data 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 firm had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 earnings per share. Research analysts expect that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

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

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.