USA Financial Formulas Buys Shares of 9,953 SLB Limited $SLB

USA Financial Formulas purchased a new stake in SLB Limited (NYSE:SLB) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 9,953 shares of the oil and gas company’s stock, valued at approximately $511,000.

Several other hedge funds have also recently modified their holdings of the business. Bank of America Corp DE boosted its position in SLB by 11.1% during the first quarter. Bank of America Corp DE now owns 10,536,104 shares of the oil and gas company’s stock valued at $541,450,000 after purchasing an additional 1,052,239 shares in the last quarter. Fearnley Asset Management AS purchased a new position in SLB in the fourth quarter valued at about $8,574,000. Vaughan Nelson Investment Management L.P. bought a new position in SLB in the first quarter worth about $47,528,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in SLB by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock worth $126,303,000 after purchasing an additional 128,660 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its position in shares of SLB by 707.9% during the first quarter. QRG Capital Management Inc. now owns 115,079 shares of the oil and gas company’s stock valued at $5,914,000 after buying an additional 100,834 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Price Performance

NYSE SLB opened at $53.77 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05. The stock’s fifty day moving average price is $49.52 and its 200 day moving average price is $51.08. SLB Limited has a 1 year low of $31.64 and a 1 year high of $58.82. The company has a market cap of $79.80 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 3.55 and a beta of 0.73.

SLB (NYSE:SLB) last issued 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 company had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 EPS. As a group, equities research analysts forecast that SLB Limited will post 2.5 earnings per share 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 issued a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio is 57.00%.

Analyst Ratings Changes

A number of analysts have recently weighed in on SLB shares. Barclays raised their price target on shares of SLB from $64.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, July 27th. 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 for the company. JPMorgan Chase & Co. raised their target price on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SLB in a report on Monday, August 3rd. Finally, TD Cowen upped their price target on SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Two investment 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. Based on data from MarketBeat, SLB has a consensus rating of “Moderate Buy” and a consensus target price 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.