Cardano Risk Management B.V. Takes $185.47 Million Position in SLB Limited $SLB

Cardano Risk Management B.V. bought a new position in shares of SLB Limited (NYSE:SLB) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,989,536 shares of the oil and gas company’s stock, valued at approximately $185,474,000. SLB comprises approximately 1.4% of Cardano Risk Management B.V.’s portfolio, making the stock its 19th biggest position.

Several other large investors have also made changes to their positions in the company. Evergreen Advisors LLC acquired a new stake in SLB in the first quarter worth about $26,000. MV Capital Management Inc. bought a new stake in SLB during the 4th quarter worth about $28,000. Strategic Wealth Advisors LLC acquired a new position in SLB during the 4th quarter valued at about $30,000. Costello Asset Management INC lifted its position in SLB by 93.3% during the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 280 shares during the period. Finally, Steph & Co. boosted its stake in shares of SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 394 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SLB shares. Citigroup lowered their price target on shares of SLB from $68.00 to $63.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Wolfe Research began coverage on shares of SLB in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SLB in a research note on Monday, August 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $61.00 target price on shares of SLB in a report on Tuesday, June 16th. Finally, Piper Sandler upped their target price on shares of SLB from $59.00 to $64.00 and gave the company an “overweight” rating 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 issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $61.35.

SLB Stock Performance

Shares of SLB stock opened at $50.52 on Friday. 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 stock has a market cap of $74.98 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 3.34 and a beta of 0.73. The stock has a 50-day moving average of $49.84 and a 200-day moving average of $50.91. 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 net margin of 8.53% and a return on equity of 14.05%. The business had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same period last year, the company posted $0.74 EPS. SLB’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, sell-side analysts expect that SLB Limited will post 2.5 earnings per share for the current year.

SLB Dividend Announcement

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

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.