SLB Limited $SLB Shares Acquired by Korea Investment CORP

Korea Investment CORP lifted its position in shares of SLB Limited (NYSE:SLB) by 16.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,142,325 shares of the oil and gas company’s stock after acquiring an additional 160,671 shares during the quarter. Korea Investment CORP owned 0.08% of SLB worth $53,107,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Evergreen Advisors LLC acquired a new position in SLB in the 1st quarter worth about $26,000. MV Capital Management Inc. acquired a new stake in SLB in the fourth quarter valued at approximately $28,000. Strategic Wealth Advisors LLC purchased a new stake in shares of SLB in the fourth quarter valued at approximately $30,000. Costello Asset Management INC raised its stake in shares of SLB by 93.3% during the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after buying an additional 280 shares during the period. Finally, Lloyd Advisory Services LLC. purchased a new position in shares of SLB during the 4th quarter valued at approximately $31,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Stock Performance

NYSE:SLB opened at $53.90 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 firm has a market capitalization of $80.00 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 3.55 and a beta of 0.73. The company’s 50-day moving average is $49.30 and its two-hundred day moving average is $51.24. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82.

SLB (NYSE:SLB) last posted its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 EPS. Analysts forecast that SLB Limited will post 2.5 EPS for the current year.

SLB Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio is presently 57.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SLB. Sanford C. Bernstein boosted their price target on shares of SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. UBS Group decreased their price objective on shares of SLB from $69.00 to $66.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. JPMorgan Chase & Co. lifted their target price on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Royal Bank Of Canada reissued an “outperform” rating and set a $61.00 target price on shares of SLB in a research note on Tuesday, June 16th. Finally, TD Cowen upped their price target on shares of SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, SLB has a consensus rating of “Moderate Buy” and an average target price of $61.35.

About SLB

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.