3,989,536 Shares in SLB Limited $SLB Purchased by Cardano Risk Management B.V.

Cardano Risk Management B.V. purchased a new position in shares of SLB Limited (NYSE:SLB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,989,536 shares of the oil and gas company’s stock, valued at approximately $185,474,000. SLB accounts for approximately 1.4% of Cardano Risk Management B.V.’s investment portfolio, making the stock its 19th largest holding. Cardano Risk Management B.V. owned about 0.27% of SLB as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of SLB in the 4th quarter worth approximately $809,557,000. Bank of New York Mellon Corp boosted its stake in SLB by 56.8% in the 1st quarter. Bank of New York Mellon Corp now owns 24,615,243 shares of the oil and gas company’s stock valued at $1,264,977,000 after buying an additional 8,918,412 shares in the last quarter. Wellington Management Group LLP boosted its stake in 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 buying an additional 5,589,585 shares in the last quarter. State Street Corp grew its position in SLB by 7.0% in the third 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 raised its stake in SLB by 86.9% during the fourth 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 in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Stock Performance

Shares of NYSE:SLB opened at $50.52 on Friday. The business has a fifty day moving average of $49.84 and a 200-day moving average of $50.91. 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 twelve month low of $31.64 and a twelve month high of $58.82. The firm has a market cap of $74.98 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 3.34 and a beta of 0.73.

SLB (NYSE:SLB) last issued 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 business had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same quarter in the prior year, the company earned $0.74 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities research analysts predict that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB’s dividend payout ratio is 57.00%.

Analyst Ratings Changes

A number of brokerages have issued reports on SLB. Morgan Stanley lifted their price objective on SLB from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, July 27th. JPMorgan Chase & Co. upped their target price on shares of SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Raymond James Financial dropped their target price on shares of SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. BMO Capital Markets raised their price objective on shares of SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Finally, Susquehanna lifted their target price on shares of SLB from $55.00 to $62.00 and gave the company a “positive” rating in a research note on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average 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.