Quantitative Investment Management LLC Makes New $3.75 Million Investment in SLB Limited $SLB

Quantitative Investment Management LLC acquired a new stake in shares of SLB Limited (NYSE:SLB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 80,609 shares of the oil and gas company’s stock, valued at approximately $3,747,000.

Several other institutional investors have also modified their holdings of SLB. State Street Corp increased its stake in shares of SLB by 1.0% during the fourth quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company’s stock worth $3,263,998,000 after purchasing an additional 799,218 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in SLB by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company’s stock valued at $2,072,844,000 after buying an additional 1,458,650 shares in the last quarter. Morgan Stanley boosted its holdings in SLB by 1.3% in the 4th quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company’s stock worth $1,423,716,000 after buying an additional 482,533 shares during the last quarter. Geode Capital Management LLC boosted its holdings in SLB by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock worth $1,292,993,000 after buying an additional 510,747 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in SLB during the 2nd quarter worth approximately $1,339,567,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Trading Up 0.1%

SLB opened at $57.40 on Monday. The firm has a market capitalization of $85.19 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 3.78 and a beta of 0.73. The company’s 50 day simple moving average is $49.70 and its two-hundred day simple moving average is $51.41. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. 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 (NYSE:SLB) last posted its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. SLB had a return on equity of 14.05% and a net margin of 8.53%.The firm had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $8.67 billion. During the same quarter last year, the firm earned $0.74 earnings per share. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. Analysts expect that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Wednesday, September 2nd will be paid a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. SLB’s dividend payout ratio (DPR) is 57.00%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SLB. Stifel Nicolaus increased their target price on SLB from $61.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Barclays lifted their price target on SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Royal Bank Of Canada reissued an “outperform” rating and issued a $61.00 price objective on shares of SLB in a research note on Tuesday, June 16th. Susquehanna raised their price objective on SLB from $55.00 to $62.00 and gave the company a “positive” rating in a report on Monday, July 27th. Finally, TD Cowen lifted their target price on shares of SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, SLB presently has an average rating of “Moderate Buy” and an average price target of $61.35.

SLB 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.