Citizens Financial Group Inc. RI Acquires New Stake in SLB Limited $SLB

Citizens Financial Group Inc. RI bought a new position in shares of SLB Limited (NYSE:SLB) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 17,065 shares of the oil and gas company’s stock, valued at approximately $793,000.

A number of other institutional investors have also recently added to or reduced their stakes in SLB. Bank of America Corp DE boosted its position in shares of SLB by 11.1% during the 1st 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 purchasing an additional 1,052,239 shares in the last quarter. Fearnley Asset Management AS bought a new stake in shares of SLB in the 4th quarter worth approximately $8,574,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of SLB in the 1st quarter worth approximately $47,528,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in SLB by 4.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock valued at $126,303,000 after purchasing an additional 128,660 shares during the last quarter. Finally, Cibc World Market Inc. lifted its stake in SLB by 48.7% during the fourth quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock valued at $52,468,000 after purchasing an additional 447,667 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Stock Down 1.0%

Shares of SLB stock opened at $53.30 on Wednesday. The stock has a market capitalization of $79.10 billion, a P/E ratio of 25.75, a PEG ratio of 3.55 and a beta of 0.73. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The stock has a 50 day moving average price of $49.42 and a two-hundred day moving average price of $51.15. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82.

SLB (NYSE:SLB) last released its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 EPS 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 company had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same quarter last year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities analysts expect that SLB Limited will post 2.5 earnings per share for the current year.

SLB Dividend Announcement

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 $0.295 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. SLB’s payout ratio is presently 57.00%.

Wall Street Analyst Weigh In

SLB has been the topic of several recent research reports. Raymond James Financial decreased their price target on shares of SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. Royal Bank Of Canada reissued an “outperform” rating and set a $61.00 price objective on shares of SLB in a research note on Tuesday, June 16th. Jefferies Financial Group restated a “buy” rating and issued a $66.00 target price on shares of SLB in a report on Sunday, July 26th. Susquehanna boosted their target price on SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a research report on Monday, July 27th. Finally, UBS Group reduced their target price on SLB from $69.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.35.

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.