190,521 Shares in SLB Limited $SLB Bought by Moore Capital Management LP

Moore Capital Management LP acquired a new position in SLB Limited (NYSE:SLB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 190,521 shares of the oil and gas company’s stock, valued at approximately $8,857,000.

Other large investors have also made changes to their positions in the company. Evergreen Advisors LLC bought a new stake in SLB during the 1st quarter valued at approximately $26,000. MV Capital Management Inc. bought a new stake in shares of SLB in the fourth quarter valued at approximately $28,000. Strategic Wealth Advisors LLC bought a new stake in shares of SLB in the fourth quarter valued at approximately $30,000. Costello Asset Management INC grew its stake in shares of SLB by 93.3% in the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 280 shares during the last quarter. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of SLB in the fourth quarter worth $31,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Price Performance

SLB stock opened at $57.40 on Monday. The business has a 50 day simple moving average of $49.70 and a 200 day simple moving average of $51.41. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05. The company has a market capitalization of $85.19 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 3.78 and a beta of 0.73. SLB Limited has a one year low of $31.64 and a one year high of $58.82.

SLB (NYSE:SLB) last announced its quarterly earnings results 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 return on equity of 14.05% and a net margin of 8.53%.The firm had revenue of $8.97 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same period in the prior year, the business posted $0.74 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts forecast that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be paid a $0.295 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. SLB’s dividend payout ratio (DPR) is 57.00%.

Analyst Ratings Changes

A number of research firms recently weighed in on SLB. Weiss Ratings reissued a “hold (c)” rating on shares of SLB in a research report on Monday, August 3rd. TD Cowen boosted their price objective on SLB from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Barclays lifted their price target on shares of SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Raymond James Financial lowered their price target on shares of SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. Finally, Susquehanna raised their price objective on shares of SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a report on Monday, July 27th. Two research 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $61.35.

SLB Company 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.