SLB Limited $SLB Shares Sold by Osterweis Capital Management Inc.

Osterweis Capital Management Inc. decreased its position in SLB Limited (NYSE:SLB) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 363,472 shares of the oil and gas company’s stock after selling 9,862 shares during the period. Osterweis Capital Management Inc.’s holdings in SLB were worth $16,898,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Evergreen Advisors LLC acquired a new position in SLB in the first quarter valued at approximately $26,000. Costello Asset Management INC increased its stake in SLB by 93.3% during the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 280 shares during the last quarter. Arlington Trust Co LLC increased its stake in 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 acquiring an additional 280 shares during the last quarter. MV Capital Management Inc. purchased a new stake in SLB in the fourth quarter valued at $28,000. Finally, Maryland Capital Advisors Inc. purchased a new stake in SLB in the second quarter valued at $35,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SLB shares. TD Cowen increased their price target on SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Zacks Research lowered shares of SLB from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $66.00 target price on shares of SLB in a research report on Sunday, July 26th. Raymond James Financial lowered their target price on shares of SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. Finally, Susquehanna lifted their price target on shares of SLB from $55.00 to $62.00 and gave the company a “positive” rating 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, SLB presently has an average rating of “Moderate Buy” and an average price target of $61.35.

SLB Trading Up 0.2%

SLB opened at $53.99 on Tuesday. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The business has a fifty day simple moving average of $49.30 and a 200-day simple moving average of $51.29. The firm has a market cap of $80.14 billion, a P/E ratio of 26.08, a P/E/G ratio of 3.55 and a beta of 0.73. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41.

SLB (NYSE:SLB) last issued its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $8.97 billion during 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 revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, equities analysts expect that SLB Limited will post 2.5 earnings per share for the current year.

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Wednesday, September 2nd will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB’s payout ratio is currently 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.