OMERS ADMINISTRATION Corp Purchases 17,526 Shares of SLB Limited $SLB

OMERS ADMINISTRATION Corp lifted its position in shares of SLB Limited (NYSE:SLB) by 15.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 128,062 shares of the oil and gas company’s stock after purchasing an additional 17,526 shares during the period. OMERS ADMINISTRATION Corp’s holdings in SLB were worth $5,954,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Abel Hall LLC grew its position in shares of SLB by 2.7% in the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock worth $387,000 after buying an additional 198 shares during the last quarter. E Fund Management Co. Ltd. raised its holdings in shares of SLB by 3.6% during the second quarter. E Fund Management Co. Ltd. now owns 5,712 shares of the oil and gas company’s stock valued at $266,000 after acquiring an additional 199 shares in the last quarter. Private Wealth Asset Management LLC lifted its stake in 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 worth $193,000 after acquiring an additional 200 shares during the period. Capital Advisors Ltd. LLC lifted its stake in SLB by 9.3% in the first 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 during the period. Finally, Ballentine Partners LLC lifted its stake in SLB by 2.2% in the fourth 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. 81.99% of the stock is owned by institutional investors.

SLB Stock Performance

Shares of SLB stock opened at $53.99 on Tuesday. 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 50 day moving average price of $49.30 and a 200-day moving average price of $51.29. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The firm has a market capitalization of $80.14 billion, a PE ratio of 26.08, a P/E/G ratio of 3.55 and a beta of 0.73.

SLB (NYSE:SLB) last issued its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. SLB had a net margin of 8.53% and a return on equity of 14.05%. The company 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 firm earned $0.74 earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities research analysts expect 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. 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 is presently 57.00%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SLB shares. JPMorgan Chase & Co. increased their price target on shares of SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings restated a “hold (c)” rating on shares of SLB in a research report on Monday, August 3rd. Raymond James Financial lowered their price objective on SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Sanford C. Bernstein upped their target price on shares of SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, Wolfe Research initiated coverage on shares of SLB in a research report on Wednesday, July 8th. They set an “outperform” rating and a $62.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company 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.