OMERS ADMINISTRATION Corp Grows Stock Position in SLB Limited $SLB

OMERS ADMINISTRATION Corp lifted its holdings in SLB Limited (NYSE:SLB) by 15.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 128,062 shares of the oil and gas company’s stock after buying 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 filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Brighton Jones LLC increased its holdings in SLB by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after buying an additional 1,166 shares during the last quarter. Bison Wealth LLC bought a new position in SLB in the fourth quarter worth approximately $238,000. Marshall Wace LLP purchased a new position in shares of SLB during the 2nd quarter worth $8,628,000. Nebula Research & Development LLC grew its position in shares of SLB by 76.0% during the 2nd quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company’s stock valued at $824,000 after acquiring an additional 10,522 shares during the period. Finally, Diversify Advisory Services LLC grew its position in shares of SLB by 7.6% during the 2nd quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company’s stock valued at $373,000 after acquiring an additional 799 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Trading Up 0.2%

Shares of SLB stock opened at $53.99 on Tuesday. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. The firm has a market capitalization of $80.14 billion, a PE ratio of 26.08, a PEG ratio of 3.55 and a beta of 0.73. The stock has a fifty day simple moving average of $49.30 and a two-hundred day simple moving average of $51.29.

SLB (NYSE:SLB) last announced its quarterly earnings data 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 business had revenue of $8.97 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 earnings per share. On average, analysts predict that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Investors 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 yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB’s dividend payout ratio (DPR) is 57.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. BMO Capital Markets lifted their target price on SLB from $59.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $66.00 price objective on shares of SLB in a research note on Sunday, July 26th. Raymond James Financial decreased their price objective on SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, July 10th. Citigroup lowered their price objective on SLB from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Finally, Stifel Nicolaus boosted their price objective on SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Two 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.