Amundi Raises Holdings in SLB Limited $SLB

Key Points

• Amundi increased its SLB stake by 15.8% in the second quarter, adding 2.7 million shares to own approximately 19.8 million shares valued at $921.2 million. Institutional investors collectively own 81.99% of the company.
• SLB reported quarterly EPS of $0.55, beating estimates by $0.04, while revenue rose 5% year over year to $8.97 billion. The company declared a quarterly dividend of $0.295, equivalent to a 2.1% annualized yield.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $61.35, above the reported share price of $57.45.

Amundi increased its stake in shares of SLB Limited (NYSE:SLB - Free Report) by 15.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,815,245 shares of the oil and gas company's stock after buying an additional 2,698,766 shares during the period. Amundi owned about 1.34% of SLB worth $921,211,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC raised its position in shares of SLB by 0.7% in the 2nd quarter. HighTower Advisors LLC now owns 1,577,193 shares of the oil and gas company's stock worth $73,324,000 after buying an additional 11,509 shares during the period. First Eagle Investment Management LLC grew its position in SLB by 1.9% during the second quarter. First Eagle Investment Management LLC now owns 28,913,733 shares of the oil and gas company's stock valued at $1,344,199,000 after acquiring an additional 537,566 shares during the period. California State Teachers Retirement System increased its stake in SLB by 2,891.7% during the second quarter. California State Teachers Retirement System now owns 145,176,833 shares of the oil and gas company's stock worth $6,749,271,000 after acquiring an additional 140,324,172 shares during the last quarter. Ameritas Advisory Services LLC increased its stake in SLB by 3.0% during the second quarter. Ameritas Advisory Services LLC now owns 11,850 shares of the oil and gas company's stock worth $551,000 after acquiring an additional 342 shares during the last quarter. Finally, Wedmont Private Capital raised its holdings in shares of SLB by 9.6% in the 2nd quarter. Wedmont Private Capital now owns 15,375 shares of the oil and gas company's stock worth $734,000 after purchasing an additional 1,353 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Trading Down 0.1%

Shares of SLB opened at $57.45 on Monday. SLB Limited has a one year low of $31.64 and a one year high of $60.46. The stock has a 50-day moving average price of $50.77 and a 200 day moving average price of $51.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. The company has a market capitalization of $85.26 billion, a P/E ratio of 27.75, a P/E/G ratio of 3.27 and a beta of 0.76.

SLB (NYSE:SLB - Get Free Report) last released 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. The company had revenue of $8.97 billion during the quarter, compared to analysts' expectations of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.The business's revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 EPS. Sell-side analysts forecast that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, September 2nd. SLB's dividend payout ratio (DPR) is presently 57.00%.

Analyst Ratings Changes

A number of brokerages have weighed in on SLB. TD Cowen lifted their price target on shares of SLB from $62.00 to $64.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Stifel Nicolaus upped their price target on shares of SLB from $61.00 to $64.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. Susquehanna raised their price objective on SLB from $55.00 to $62.00 and gave the company a "positive" rating in a research report on Monday, July 27th. BMO Capital Markets reiterated an "outperform" rating on shares of SLB in a report on Tuesday, September 1st. Finally, Zacks Research raised SLB from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, 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.

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