Ardsley Advisory Partners LP Makes New $6.28 Million Investment in SLB Limited $SLB

Key Points

• Ardsley Advisory Partners initiated a $6.28 million position in SLB, purchasing 135,000 shares during the second quarter. Institutional investors collectively own 81.99% of the company.
• Analysts maintain a generally positive view, with SLB carrying a consensus “Moderate Buy” rating and an average price target of $61.35, above its reported trading price of $52.66.
• SLB beat quarterly expectations with earnings of $0.55 per share and revenue of $8.97 billion, while declaring a quarterly dividend of $0.295 per share, or a 2.2% annualized yield.

Ardsley Advisory Partners LP bought a new stake in SLB Limited (NYSE:SLB - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 135,000 shares of the oil and gas company's stock, valued at approximately $6,276,000.

A number of other institutional investors have also recently made changes to their positions in SLB. Vanguard Group Inc. lifted its holdings in SLB by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company's stock valued at $7,156,177,000 after purchasing an additional 1,080,999 shares during the last quarter. State Street Corp raised its position in shares of SLB by 1.0% in the fourth quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company's stock valued at $3,263,998,000 after purchasing an additional 799,218 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of SLB by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company's stock valued at $2,072,844,000 after purchasing an additional 1,458,650 shares during the period. Morgan Stanley lifted its stake in shares of SLB by 1.3% during the 4th quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company's stock valued at $1,423,716,000 after buying an additional 482,533 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of SLB by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company's stock valued at $1,292,993,000 after buying an additional 510,747 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SLB. Raymond James Financial reduced their price objective on shares of SLB from $62.00 to $61.00 and set an "outperform" rating for the company in a research note on Friday, July 10th. BMO Capital Markets increased their target price on SLB from $59.00 to $63.00 and gave the stock an "outperform" rating in a research report on Monday, July 27th. Barclays raised their price target on SLB from $64.00 to $67.00 and gave the stock an "overweight" rating in a report on Monday, July 27th. JPMorgan Chase & Co. lifted their price target on SLB from $54.00 to $61.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. Finally, Evercore reiterated an "outperform" rating and set a $66.00 price objective on shares of SLB in a research note on Monday, July 27th. Two equities research 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 stock. Based on data from MarketBeat, SLB has a consensus rating of "Moderate Buy" and a consensus target price of $61.35.

SLB Trading Down 1.9%

Shares of SLB stock opened at $52.66 on Thursday. The business has a 50-day moving average price of $49.67 and a two-hundred day moving average price of $51.04. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82. 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 firm has a market cap of $78.15 billion, a P/E ratio of 25.44, a price-to-earnings-growth ratio of 3.54 and a beta of 0.73.

SLB (NYSE:SLB - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.The company's revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.74 EPS. Equities analysts anticipate 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. Shareholders of record on Wednesday, September 2nd will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 2nd. SLB's dividend payout ratio (DPR) is presently 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.

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