Danica Pension Livsforsikringsaktieselskab Buys New Holdings in SLB Limited $SLB

Danica Pension Livsforsikringsaktieselskab purchased a new position in SLB Limited (NYSE:SLB) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 181,175 shares of the oil and gas company’s stock, valued at approximately $8,423,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC raised its position in shares of SLB by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after buying an additional 1,166 shares during the last quarter. Bison Wealth LLC purchased a new position in shares of SLB in the fourth quarter worth $238,000. Marshall Wace LLP bought a new position in shares of SLB during the second quarter worth $8,628,000. Nebula Research & Development LLC grew its stake in SLB by 76.0% during 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 acquiring an additional 10,522 shares in the last quarter. Finally, Diversify Advisory Services LLC grew its stake in SLB by 7.6% during the second quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company’s stock valued at $373,000 after acquiring an additional 799 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on SLB. Royal Bank Of Canada reiterated an “outperform” rating and issued a $61.00 price target on shares of SLB in a report on Tuesday, June 16th. Raymond James Financial cut their price objective on SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Susquehanna lifted their target price on SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a report on Monday, July 27th. Barclays boosted their target price on SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of SLB in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, SLB presently has an average rating of “Moderate Buy” and an average price target of $61.35.

SLB Price Performance

SLB stock opened at $53.30 on Wednesday. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The firm has a market capitalization of $79.10 billion, a P/E ratio of 25.75, a price-to-earnings-growth ratio of 3.55 and a beta of 0.73. The company has a fifty day simple moving average of $49.42 and a two-hundred day simple moving average of $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.

SLB (NYSE:SLB) last posted its earnings results 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. The firm had revenue of $8.97 billion for 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 business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. Analysts anticipate that SLB Limited will post 2.5 earnings per share for the current fiscal 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 given a $0.295 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.18 annualized dividend and a yield of 2.2%. SLB’s dividend payout ratio (DPR) is currently 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.