Saudi Central Bank Has $4.88 Million Stock Holdings in SLB Limited $SLB

Saudi Central Bank boosted its holdings in shares of SLB Limited (NYSE:SLB) by 90.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 105,079 shares of the oil and gas company’s stock after purchasing an additional 49,937 shares during the period. Saudi Central Bank’s holdings in SLB were worth $4,885,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of SLB by 21.4% in the fourth 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 in the last quarter. Bison Wealth LLC acquired a new stake in SLB in the 4th quarter valued at about $238,000. Marshall Wace LLP bought a new position in shares of SLB during the 2nd quarter worth approximately $8,628,000. Nebula Research & Development LLC increased its holdings 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 purchasing an additional 10,522 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its stake in 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 last quarter. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of SLB in a report on Tuesday, June 16th. Morgan Stanley boosted their price objective on shares of SLB from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. BMO Capital Markets reissued an “outperform” rating on shares of SLB in a report on Tuesday, September 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of SLB in a research note on Monday, August 3rd. Finally, Wolfe Research assumed coverage on shares of SLB in a research report on Wednesday, July 8th. They set an “outperform” rating and a $62.00 target price on the stock. Two equities research 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 given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.35.

SLB Price Performance

Shares of SLB opened at $57.45 on Monday. The firm has a market cap of $85.26 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 3.27 and a beta of 0.76. SLB Limited has a 52-week low of $31.64 and a 52-week high of $60.46. The business’s 50 day moving average price is $50.77 and its two-hundred day moving average price is $51.68. 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 quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, topping 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 net margin of 8.53% and a return on equity of 14.05%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the company posted $0.74 earnings per share. On average, equities analysts anticipate that SLB Limited will post 2.5 EPS for the current year.

SLB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be given a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 annualized dividend and a yield of 2.1%. SLB’s dividend payout ratio (DPR) is presently 57.00%.

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.