SLB Limited $SLB Shares Bought by First Eagle Investment Management LLC

First Eagle Investment Management LLC raised its holdings in SLB Limited (NYSE:SLB) by 1.9% during the 2nd quarter, Holdings Channel reports. The firm owned 28,913,733 shares of the oil and gas company’s stock after purchasing an additional 537,566 shares during the quarter. SLB comprises 1.4% of First Eagle Investment Management LLC’s investment portfolio, making the stock its 23rd biggest holding. First Eagle Investment Management LLC’s holdings in SLB were worth $1,344,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of SLB. California State Teachers Retirement System increased its position in SLB by 2,891.7% during the second quarter. California State Teachers Retirement System now owns 145,176,833 shares of the oil and gas company’s stock worth $6,749,271,000 after buying an additional 140,324,172 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of SLB in the second quarter valued at $1,339,567,000. Norges Bank purchased a new stake in shares of SLB in the fourth quarter valued at $809,557,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of SLB by 6,358.2% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,134,731 shares of the oil and gas company’s stock valued at $471,164,000 after acquiring an additional 9,977,804 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in SLB by 50.6% during the 4th quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company’s stock worth $638,473,000 after purchasing an additional 5,589,585 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Stock Performance

SLB stock opened at $57.45 on Monday. The stock has a fifty day moving average price of $50.77 and a 200 day moving average price of $51.68. SLB Limited has a 52 week low of $31.64 and a 52 week high of $60.46. The firm has a market capitalization of $85.26 billion, a P/E ratio of 27.75, a PEG ratio of 3.27 and a beta of 0.76. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41.

SLB (NYSE:SLB) last issued its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm 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 firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the company earned $0.74 EPS. Equities research analysts anticipate that SLB Limited will post 2.5 earnings per share for the current year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio is presently 57.00%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SLB. Raymond James Financial cut 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. Sanford C. Bernstein reiterated an “outperform” rating on shares of SLB in a report on Tuesday, September 1st. Stifel Nicolaus lifted their price target on shares of SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Barclays boosted their price objective on shares of SLB from $64.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Finally, Zacks Research upgraded shares of SLB from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.35.

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.