SLB Limited $SLB Shares Purchased by Danske Bank A S

Danske Bank A S boosted its stake in SLB Limited (NYSE:SLB) by 2,928.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,825,743 shares of the oil and gas company’s stock after acquiring an additional 2,732,433 shares during the period. Danske Bank A S’s holdings in SLB were worth $131,369,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new stake in shares of SLB during the second quarter worth about $1,339,567,000. Norges Bank acquired a new stake in shares of SLB in the 4th quarter valued at about $809,557,000. Wellington Management Group LLP boosted its position in shares of SLB by 50.6% in the 4th quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company’s stock valued at $638,473,000 after purchasing an additional 5,589,585 shares during the period. State Street Corp grew its stake in SLB by 7.0% during the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock worth $2,898,037,000 after buying an additional 5,466,786 shares during the last quarter. Finally, Capital International Investors grew its stake in SLB by 86.9% during the 4th quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock worth $446,247,000 after buying an additional 5,404,948 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

Shares of SLB stock opened at $53.30 on Wednesday. The stock’s 50-day moving average price is $49.42 and its 200 day moving average price is $51.15. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $79.10 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 3.55 and a beta of 0.73. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82.

SLB (NYSE:SLB) last posted its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, topping 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 company had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $8.67 billion. During the same period last year, the firm earned $0.74 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities research analysts forecast that SLB Limited will post 2.5 EPS for the current year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be issued a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. SLB’s dividend payout ratio (DPR) is currently 57.00%.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of research reports. Morgan Stanley boosted their price objective on SLB from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Raymond James Financial lowered their target price on shares of SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $66.00 target price on shares of SLB in a report on Sunday, July 26th. Zacks Research downgraded shares of SLB from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. Finally, Sanford C. Bernstein increased their price target on shares of SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given 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 stock presently has an average 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.