Gabelli Funds LLC Has $36.63 Million Stake in SLB Limited $SLB

Gabelli Funds LLC lifted its position in shares of SLB Limited (NYSE:SLB) by 3.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 787,920 shares of the oil and gas company’s stock after purchasing an additional 26,596 shares during the period. Gabelli Funds LLC’s holdings in SLB were worth $36,630,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Evergreen Advisors LLC acquired a new position in SLB during the 1st quarter worth about $26,000. Costello Asset Management INC lifted its stake in shares of SLB by 93.3% in the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 280 shares during the period. Arlington Trust Co LLC boosted its holdings in SLB by 66.5% in the second quarter. Arlington Trust Co LLC now owns 701 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 280 shares during the last quarter. MV Capital Management Inc. acquired a new stake in SLB during the 4th quarter valued at approximately $28,000. Finally, Maryland Capital Advisors Inc. acquired a new stake in SLB during the 2nd quarter valued at approximately $35,000. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SLB shares. Weiss Ratings restated a “hold (c)” rating on shares of SLB in a research report on Monday, August 3rd. Citigroup lowered their target price on shares of SLB from $68.00 to $63.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Barclays boosted their target price on shares of SLB from $64.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of SLB in a research report on Tuesday, June 16th. Finally, UBS Group decreased their price target on SLB from $69.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Two 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $61.35.

SLB Price Performance

SLB stock opened at $53.90 on Friday. The stock has a market capitalization of $80.00 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 3.55 and a beta of 0.73. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. The stock’s 50 day moving average price is $49.30 and its two-hundred day moving average price is $51.24.

SLB (NYSE:SLB) last released its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. SLB had a net margin of 8.53% and a return on equity of 14.05%. The company had revenue of $8.97 billion during the quarter, compared to analyst estimates of $8.67 billion. During the same quarter in the previous year, the business posted $0.74 EPS. SLB’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts predict that SLB Limited will post 2.5 earnings per share for the current year.

SLB Announces Dividend

The business also recently declared 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. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB’s payout ratio is 57.00%.

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.