Czech National Bank Boosts Stake in SLB Limited $SLB

Czech National Bank grew its holdings in SLB Limited (NYSE:SLB) by 4.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 425,551 shares of the oil and gas company’s stock after buying an additional 18,304 shares during the period. Czech National Bank’s holdings in SLB were worth $19,784,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SLB. Brighton Jones LLC increased its holdings in SLB by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 1,166 shares during the last quarter. Bison Wealth LLC acquired a new position in SLB during the fourth quarter worth $238,000. Marshall Wace LLP acquired a new position in SLB during the second quarter worth $8,628,000. Nebula Research & Development LLC grew its stake in shares of SLB by 76.0% in the second quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company’s stock valued at $824,000 after buying an additional 10,522 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its holdings 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 buying an additional 799 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SLB shares. Barclays increased their target price on SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. JPMorgan Chase & Co. boosted their price target on shares of SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Evercore reissued an “outperform” rating and set a $66.00 price target on shares of SLB in a research report on Monday, July 27th. Susquehanna raised their price objective on shares of SLB from $55.00 to $62.00 and gave the company a “positive” rating in a research note on Monday, July 27th. Finally, Wolfe Research began coverage on shares of SLB in a report on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.35.

SLB Stock Down 2.0%

Shares of SLB stock opened at $50.52 on Friday. 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 Limited has a 52-week low of $31.64 and a 52-week high of $58.82. The company has a market capitalization of $74.98 billion, a P/E ratio of 24.41, a P/E/G ratio of 3.40 and a beta of 0.73. The company has a 50 day moving average of $49.84 and a 200 day moving average of $50.91.

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

SLB Announces Dividend

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