SLB Limited $SLB Shares Purchased by Korea Investment CORP

Korea Investment CORP increased its holdings in shares of SLB Limited (NYSE:SLB) by 16.4% in the second quarter, Holdings Channel reports. The firm owned 1,142,325 shares of the oil and gas company’s stock after buying an additional 160,671 shares during the period. Korea Investment CORP’s holdings in SLB were worth $53,107,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new position in SLB during the second quarter worth about $1,339,567,000. Norges Bank purchased a new stake in shares of SLB in the 4th quarter valued at approximately $809,557,000. Wellington Management Group LLP raised its stake in shares of SLB by 50.6% in the 4th quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company’s stock valued at $638,473,000 after acquiring an additional 5,589,585 shares during the period. State Street Corp raised its stake in shares of SLB by 7.0% in the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock valued at $2,898,037,000 after acquiring an additional 5,466,786 shares during the period. Finally, Capital International Investors lifted its holdings in shares of SLB by 86.9% in the 4th quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock worth $446,247,000 after acquiring an additional 5,404,948 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

SLB has been the subject of a number of research analyst reports. Citigroup lowered their price objective on shares of SLB from $68.00 to $63.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Stifel Nicolaus boosted their target price on SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Wolfe Research began coverage on SLB in a research note on Wednesday, July 8th. They set an “outperform” rating and a $62.00 price target on the stock. Piper Sandler raised their price target on SLB from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Finally, Zacks Research cut SLB from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $61.35.

SLB Trading Up 0.7%

NYSE:SLB opened at $53.90 on Friday. The firm has a market cap of $80.00 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 3.55 and a beta of 0.73. The stock has a fifty day moving average price of $49.30 and a 200 day moving average price of $51.24. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41.

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

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be given a dividend of $0.295 per share. 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 2.2%. SLB’s payout ratio is currently 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.