80,609 Shares in SLB Limited $SLB Acquired by Quantitative Investment Management LLC

Quantitative Investment Management LLC purchased a new position in shares of SLB Limited (NYSE:SLB) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 80,609 shares of the oil and gas company’s stock, valued at approximately $3,747,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Evergreen Advisors LLC purchased a new stake in shares of SLB in the 1st quarter valued at $26,000. MV Capital Management Inc. purchased a new position in shares of SLB during the fourth quarter worth $28,000. Strategic Wealth Advisors LLC acquired a new position in SLB during the fourth quarter valued at $30,000. Costello Asset Management INC lifted its position 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 valued at $30,000 after purchasing an additional 280 shares during the period. Finally, Lloyd Advisory Services LLC. purchased a new stake in SLB in the fourth quarter valued at $31,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Trading Up 0.1%

Shares of SLB stock opened at $57.40 on Monday. The firm has a 50-day simple moving average of $49.70 and a two-hundred day simple moving average of $51.41. The company has a market cap of $85.19 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 3.78 and a beta of 0.73. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44.

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

SLB Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB’s dividend payout ratio (DPR) is presently 57.00%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. UBS Group reduced their price objective on SLB from $69.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. TD Cowen upped their target price on SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SLB in a report on Monday, August 3rd. Citigroup reduced their price target on SLB from $68.00 to $63.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Finally, BMO Capital Markets boosted their price target on SLB from $59.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Two 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.