SLB Limited $SLB Shares Bought by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. raised its position in SLB Limited (NYSE:SLB) by 221.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,506 shares of the oil and gas company’s stock after purchasing an additional 73,352 shares during the quarter. Thornburg Investment Management Inc.’s holdings in SLB were worth $4,951,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Abel Hall LLC boosted its position in SLB by 2.7% during the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock worth $387,000 after purchasing an additional 198 shares during the period. E Fund Management Co. Ltd. boosted its position in shares of SLB by 3.6% in the second quarter. E Fund Management Co. Ltd. now owns 5,712 shares of the oil and gas company’s stock worth $266,000 after buying an additional 199 shares during the period. Private Wealth Asset Management LLC grew its stake in shares of SLB by 4.1% in the fourth quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock valued at $193,000 after buying an additional 200 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in SLB by 9.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock worth $129,000 after acquiring an additional 214 shares in the last quarter. Finally, Ballentine Partners LLC boosted its holdings in SLB by 2.2% in the 4th quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock worth $395,000 after acquiring an additional 218 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Trading Up 4.3%

NYSE SLB opened at $57.40 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. SLB Limited has a one year low of $31.64 and a one year high of $58.82. The company has a 50-day simple moving average of $49.70 and a 200-day simple moving average of $51.41. The firm has a market capitalization of $85.19 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 3.78 and a beta of 0.73.

SLB (NYSE:SLB) last posted its 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. The company had revenue of $8.97 billion during the quarter, compared to analyst estimates of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.The business’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 earnings per share. On average, equities analysts forecast that SLB Limited will post 2.5 earnings per share for the current year.

SLB Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be issued a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 annualized dividend and a dividend yield of 2.1%. SLB’s payout ratio is 57.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of SLB in a report on Monday, August 3rd. Zacks Research upgraded SLB from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. TD Cowen lifted their price target 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. Susquehanna boosted their target price on shares of SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a research report on Monday, July 27th. Finally, BMO Capital Markets upped their target price on shares of SLB from $59.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Two research 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.