PensionDanmark Pensionsforsikringsaktieselskab Reduces Stock Position in SLB Limited $SLB

PensionDanmark Pensionsforsikringsaktieselskab trimmed its stake in shares of SLB Limited (NYSE:SLB) by 7.8% in the second quarter, Holdings Channel.com reports. The fund owned 263,717 shares of the oil and gas company’s stock after selling 22,280 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in SLB were worth $12,260,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in SLB by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock valued at $7,156,177,000 after purchasing an additional 1,080,999 shares in the last quarter. State Street Corp raised its holdings in SLB by 1.0% during the fourth quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company’s stock worth $3,263,998,000 after purchasing an additional 799,218 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in SLB by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company’s stock worth $2,072,844,000 after purchasing an additional 1,458,650 shares in the last quarter. Morgan Stanley boosted its position in SLB by 1.3% during the fourth quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company’s stock worth $1,423,716,000 after purchasing an additional 482,533 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in SLB by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock valued at $1,292,993,000 after purchasing an additional 510,747 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

NYSE SLB 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 fifty-two week low of $31.64 and a fifty-two week high of $58.82. The business has a fifty day moving average of $49.84 and a 200-day moving average of $50.91. The stock has a market cap of $74.98 billion, a price-to-earnings ratio of 24.41, a price-to-earnings-growth ratio of 3.40 and a beta of 0.73.

SLB (NYSE:SLB) last posted 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. The business had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 earnings per share. As a group, analysts predict that SLB Limited will post 2.5 earnings per share for the current fiscal year.

SLB Announces Dividend

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 issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio is 57.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wolfe Research started coverage on SLB in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price target for the company. Citigroup lowered their price objective on shares of SLB from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Raymond James Financial dropped their target price on shares of SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, July 10th. Morgan Stanley lifted their target price on shares of SLB from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Finally, Sanford C. Bernstein upped their price target on shares of SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.35.

SLB Company 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.