Prospera Financial Services Inc Acquires 21,086 Shares of SLB Limited $SLB

Prospera Financial Services Inc boosted its stake in SLB Limited (NYSE:SLB) by 22.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,005 shares of the oil and gas company’s stock after purchasing an additional 21,086 shares during the period. Prospera Financial Services Inc’s holdings in SLB were worth $5,442,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Bank of America Corp DE lifted its holdings in SLB by 11.1% in the first quarter. Bank of America Corp DE now owns 10,536,104 shares of the oil and gas company’s stock valued at $541,450,000 after buying an additional 1,052,239 shares during the period. Fearnley Asset Management AS bought a new stake in SLB during the fourth quarter valued at $8,574,000. Vaughan Nelson Investment Management L.P. acquired a new stake in SLB during the 1st quarter worth about $47,528,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in SLB by 4.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock worth $126,303,000 after acquiring an additional 128,660 shares during the period. Finally, Cibc World Market Inc. raised its position in shares of SLB by 48.7% in the 4th quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock worth $52,468,000 after acquiring an additional 447,667 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

SLB Price Performance

Shares of NYSE SLB opened at $51.99 on Friday. The firm has a market capitalization of $77.16 billion, a P/E ratio of 25.12, a P/E/G ratio of 3.47 and a beta of 0.73. The firm’s 50-day moving average price is $49.54 and its 200-day moving average price is $51.07. 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 Limited has a 1-year low of $31.64 and a 1-year high of $58.82.

SLB (NYSE:SLB) last issued its earnings results 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. SLB had a return on equity of 14.05% and a net margin of 8.53%.The company had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same period last year, the business posted $0.74 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that SLB Limited will post 2.5 earnings per share for the current fiscal year.

SLB Announces Dividend

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 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB’s dividend payout ratio (DPR) is 57.00%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SLB. Morgan Stanley boosted their price objective on SLB from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. UBS Group decreased their target price on SLB from $69.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of SLB in a report on Monday, August 3rd. Wolfe Research initiated coverage on SLB in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price target on the stock. Finally, Zacks Research cut SLB from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.