Anchor Capital Advisors LLC Has $11.25 Million Stock Holdings in SLB Limited $SLB

Anchor Capital Advisors LLC trimmed its position in SLB Limited (NYSE:SLB - Free Report) by 8.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 241,955 shares of the oil and gas company's stock after selling 23,355 shares during the period. Anchor Capital Advisors LLC's holdings in SLB were worth $11,248,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in SLB. Bank of America Corp DE raised its position in shares of SLB by 11.1% in 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 acquiring an additional 1,052,239 shares during the period. Nan Shan Life Insurance Co. Ltd. grew its holdings in SLB by 513.8% during the second quarter. Nan Shan Life Insurance Co. Ltd. now owns 736,544 shares of the oil and gas company's stock valued at $34,242,000 after purchasing an additional 616,544 shares during the period. Fearnley Asset Management AS acquired a new position in SLB during the fourth quarter valued at approximately $8,574,000. Vaughan Nelson Investment Management L.P. bought a new stake in SLB in the first quarter valued at approximately $47,528,000. Finally, Cibc World Market Inc. increased its stake in SLB by 48.7% in 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 in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SLB. Raymond James Financial reduced 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. Citigroup lowered their price objective 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. Stifel Nicolaus lifted their target price on SLB from $61.00 to $64.00 and gave the stock a "buy" rating in a report on Thursday, June 18th. Royal Bank Of Canada reissued an "outperform" rating and issued a $61.00 target price on shares of SLB in a research note on Tuesday, June 16th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $66.00 price target on shares of SLB in a report on Sunday, July 26th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, SLB currently has an average rating of "Moderate Buy" and an average target price of $61.35.

SLB Stock Down 0.1%

Shares of SLB stock opened at $57.45 on Tuesday. The firm has a market cap of $85.26 billion, a PE ratio of 27.75, a P/E/G ratio of 3.27 and a beta of 0.76. The business's 50 day simple moving average is $50.99 and its 200 day simple moving average is $51.73. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. SLB Limited has a 52-week low of $31.64 and a 52-week high of $60.46.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. The firm had revenue of $8.97 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm posted $0.74 EPS. On average, analysts predict that SLB Limited will post 2.5 earnings per share for the current fiscal year.

SLB Announces Dividend

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

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.

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SLB Limited (NYSE:SLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.