Wedge Capital Management L L P NC Has $10.67 Million Stock Position in SLB Limited $SLB

Wedge Capital Management L L P NC cut its holdings in shares of SLB Limited (NYSE:SLB) by 29.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 229,592 shares of the oil and gas company’s stock after selling 93,862 shares during the period. Wedge Capital Management L L P NC’s holdings in SLB were worth $10,674,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Abel Hall LLC raised its holdings in shares of SLB by 2.7% during the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock worth $387,000 after buying an additional 198 shares in the last quarter. Private Wealth Asset Management LLC lifted its position in shares of SLB by 4.1% during the 4th quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock worth $193,000 after buying an additional 200 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in SLB by 9.3% in the first quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock valued at $129,000 after buying an additional 214 shares in the last quarter. Ballentine Partners LLC boosted its stake in SLB by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock valued at $395,000 after buying an additional 218 shares in the last quarter. Finally, Davis Capital Management grew its position in SLB by 1.0% in the first quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company’s stock valued at $1,129,000 after acquiring an additional 220 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. TD Cowen increased their target price on shares of SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, July 27th. UBS Group dropped their price objective on shares of SLB from $69.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Evercore reiterated an “outperform” rating and issued a $66.00 price target on shares of SLB in a research note on Monday, July 27th. Stifel Nicolaus boosted their price objective on SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $61.00 target price on shares of SLB in a report on Tuesday, June 16th. 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. According to data from MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.35.

SLB Trading Down 1.9%

SLB opened at $52.66 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The company’s 50 day moving average price is $49.67 and its two-hundred day moving average price is $51.04. The firm has a market capitalization of $78.15 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 3.54 and a beta of 0.73.

SLB (NYSE:SLB) last released its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. The firm had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 earnings per share. As a group, research analysts predict that SLB Limited will post 2.5 earnings per share for the current year.

SLB Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio is presently 57.00%.

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.