Daiichi Life Insurance Co. Ltd. Cuts Stake in SLB Limited $SLB

Daiichi Life Insurance Co. Ltd. cut its holdings in SLB Limited (NYSE:SLB) by 28.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,345 shares of the oil and gas company’s stock after selling 20,000 shares during the period. Daiichi Life Insurance Co. Ltd.’s holdings in SLB were worth $2,294,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Evergreen Advisors LLC purchased a new position in shares of SLB in the first quarter worth $26,000. MV Capital Management Inc. bought a new position in shares of SLB during the fourth quarter worth $28,000. Strategic Wealth Advisors LLC purchased a new position in SLB during the fourth quarter valued at $30,000. Costello Asset Management INC grew its stake in SLB by 93.3% during the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 280 shares in the last quarter. Finally, Lloyd Advisory Services LLC. bought a new stake in SLB in the 4th quarter valued at $31,000. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SLB has been the topic of several research analyst reports. Raymond James Financial decreased their price target on shares of SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, July 10th. UBS Group cut their price objective on SLB from $69.00 to $66.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Evercore reaffirmed an “outperform” rating and issued a $66.00 target price on shares of SLB in a report on Monday, July 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 target price on shares of SLB in a research report on Sunday, July 26th. Finally, Zacks Research lowered 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 issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $61.35.

SLB Stock Performance

SLB stock opened at $53.90 on Monday. The company’s 50-day moving average price is $49.30 and its 200-day moving average price is $51.26. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The company 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. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82.

SLB (NYSE:SLB) last announced its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $8.97 billion during 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 firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 EPS. On average, equities research analysts forecast that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

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 paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB’s dividend payout ratio (DPR) is presently 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.