Foster Group Inc. Buys New Stake in SLB Limited $SLB

Foster Group Inc. purchased a new stake in SLB Limited (NYSE:SLB) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 11,703 shares of the oil and gas company’s stock, valued at approximately $544,000.

Several other large investors also recently bought and sold shares of the stock. Hamlin Capital Management LLC increased its position in shares of SLB by 53.4% during the second quarter. Hamlin Capital Management LLC now owns 1,644,026 shares of the oil and gas company’s stock worth $76,431,000 after purchasing an additional 572,287 shares in the last quarter. Mirador Capital Partners LP boosted its position in shares of SLB by 9.4% in the 2nd quarter. Mirador Capital Partners LP now owns 14,758 shares of the oil and gas company’s stock valued at $686,000 after purchasing an additional 1,268 shares during the period. Balefire LLC purchased a new position in SLB during the 2nd quarter worth approximately $539,000. Dynamic Advisor Solutions LLC grew its stake in SLB by 14.6% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 7,235 shares of the oil and gas company’s stock worth $336,000 after buying an additional 922 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in SLB by 1.8% during the second quarter. GAMMA Investing LLC now owns 38,485 shares of the oil and gas company’s stock worth $1,789,000 after buying an additional 665 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $61.00 target price on shares of SLB in a report on Tuesday, June 16th. Sanford C. Bernstein upped their price target on shares of SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. BMO Capital Markets increased their price target on shares of SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Finally, Evercore reissued an “outperform” rating and set a $66.00 price objective on shares of SLB in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, SLB currently has an average rating of “Moderate Buy” and an average price target of $61.35.

SLB Stock Up 3.2%

SLB stock opened at $51.52 on Friday. The stock has a 50 day moving average of $49.92 and a two-hundred day moving average of $50.91. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82. The stock has a market capitalization of $76.46 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 3.30 and a beta of 0.73. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41.

SLB (NYSE:SLB) last released 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. SLB had a return on equity of 14.05% and a net margin of 8.53%.The business had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, research analysts expect that SLB Limited will post 2.5 earnings per share for the current year.

SLB Dividend Announcement

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

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.