SLB Limited $SLB Shares Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its position in SLB Limited (NYSE:SLB) by 21.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 273,006 shares of the oil and gas company’s stock after buying an additional 48,036 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in SLB were worth $13,301,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new position in SLB during the 2nd quarter worth approximately $1,339,567,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of SLB by 6,358.2% in 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 purchasing an additional 9,977,804 shares during the last quarter. Cardano Risk Management B.V. acquired a new stake in shares of SLB in the second quarter valued at approximately $185,474,000. Canoe Financial LP raised its holdings in shares of SLB by 82.3% in the second quarter. Canoe Financial LP now owns 7,730,966 shares of the oil and gas company’s stock valued at $358,936,000 after purchasing an additional 3,489,344 shares during the last quarter. Finally, Danske Bank A S lifted its position in shares of SLB by 2,928.3% in the second quarter. Danske Bank A S now owns 2,825,743 shares of the oil and gas company’s stock worth $131,369,000 after purchasing an additional 2,732,433 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SLB shares. Susquehanna increased their target price on shares of SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a report on Monday, July 27th. Morgan Stanley lifted their price target on shares of 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 cut their price target 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. Evercore increased their price objective on shares of SLB from $63.00 to $66.00 in a research note on Thursday, October 8th. Finally, Rothschild & Co Redburn increased their price objective on shares of SLB from $66.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, September 25th. Twenty-four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.52.

SLB Stock Up 1.9%

NYSE:SLB opened at $54.09 on Wednesday. SLB Limited has a twelve month low of $34.65 and a twelve month high of $60.46. The stock’s 50 day moving average price is $52.49 and its two-hundred day moving average price is $51.23.

SLB (NYSE:SLB) last released its quarterly earnings data on Friday, October 23rd. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. The company had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.27 billion. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 EPS. Sell-side analysts anticipate that SLB Limited will post 2.47 EPS for the current fiscal year.

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 2nd will be issued a dividend of $0.2950 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, December 2nd.

SLB Company Profile

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.