Varma Mutual Pension Insurance Co Cuts Stock Position in SLB Limited $SLB

Varma Mutual Pension Insurance Co lessened its holdings in SLB Limited (NYSE:SLB) by 4.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 375,652 shares of the oil and gas company’s stock after selling 16,000 shares during the period. Varma Mutual Pension Insurance Co’s holdings in SLB were worth $17,464,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Abel Hall LLC lifted its position in SLB by 2.7% during the first quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock valued at $387,000 after purchasing an additional 198 shares during the last quarter. E Fund Management Co. Ltd. grew its stake in shares of SLB by 3.6% in the 2nd 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 in the last quarter. Private Wealth Asset Management LLC increased its holdings in shares of SLB by 4.1% in the 4th quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock worth $193,000 after buying an additional 200 shares during the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of SLB by 9.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock worth $129,000 after buying an additional 214 shares during the last quarter. Finally, Ballentine Partners LLC raised its position in shares of SLB by 2.2% during the 4th quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock valued at $395,000 after buying an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

SLB stock opened at $53.90 on Friday. 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 business’s fifty day simple moving average is $49.30 and its two-hundred day simple moving average is $51.24. 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 $80.00 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 3.55 and a beta of 0.73.

SLB (NYSE:SLB) last issued its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (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 analyst estimates of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The business’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 earnings per share. Analysts predict that SLB Limited will post 2.5 earnings per share for the current year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be issued a dividend of $0.295 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. SLB’s dividend payout ratio (DPR) is presently 57.00%.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Zacks Research cut SLB from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. Citigroup lowered 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. Wolfe Research started coverage on SLB in a report on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 target price for the company. Finally, UBS Group cut their target price on SLB from $69.00 to $66.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.35.

About SLB

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.