Nykredit A S Invests $28.08 Million in SLB Limited $SLB

Nykredit A S acquired a new stake in SLB Limited (NYSE:SLB) in the 2nd quarter, HoldingsChannel reports. The fund acquired 603,972 shares of the oil and gas company’s stock, valued at approximately $28,079,000.

Several other large investors have also recently added to or reduced their stakes in SLB. Evergreen Advisors LLC purchased a new position in shares of SLB in the 1st quarter valued at about $26,000. Costello Asset Management INC increased its position in shares of SLB by 93.3% in the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 280 shares during the last quarter. Arlington Trust Co LLC lifted its position in shares of SLB by 66.5% during the 2nd quarter. Arlington Trust Co LLC now owns 701 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 280 shares during the last quarter. MV Capital Management Inc. acquired a new position in shares of SLB during the fourth quarter worth $28,000. Finally, Maryland Capital Advisors Inc. acquired a new stake in SLB in the second quarter valued at $35,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

SLB Trading Down 1.8%

NYSE:SLB opened at $51.14 on Friday. The business’s 50-day moving average is $52.46 and its two-hundred day moving average is $51.91. The firm has a market capitalization of $75.90 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 2.96 and a beta of 0.76. 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 Limited has a 12 month low of $31.64 and a 12 month high of $60.46.

SLB (NYSE:SLB) last released its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same quarter in the previous year, the firm posted $0.74 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. Research analysts predict that SLB Limited will post 2.5 earnings per share for the current fiscal year.

SLB Announces Dividend

The firm 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. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB’s payout ratio is 57.00%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SLB shares. Wolfe Research initiated coverage on shares of SLB in a report on Wednesday, July 8th. They set an “outperform” rating and a $62.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of SLB in a research report on Monday, August 3rd. Morgan Stanley increased their target price on shares of SLB from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Susquehanna boosted their price target on SLB from $55.00 to $62.00 and gave the company a “positive” rating in a research report on Monday, July 27th. Finally, Citigroup reduced their price objective on SLB from $68.00 to $63.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.80.

SLB Company Profile

SLB, formerly known as Schlumberger Limited, is a global technology and services company serving the energy industry. The company provides equipment, technology and technical expertise that help oil and gas producers locate, drill, complete and operate wells, as well as manage reservoirs and production assets.

Its offerings include seismic and subsurface evaluation, drilling and well-construction services, well completion and stimulation, artificial lift, production optimization, intervention services, subsea production systems and digital solutions.