California State Teachers Retirement System Decreases Stake in SLB Limited $SLB

California State Teachers Retirement System reduced its position in SLB Limited (NYSE:SLB - Free Report) by 35.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,122,754 shares of the oil and gas company's stock after selling 1,729,907 shares during the period. California State Teachers Retirement System owned about 0.21% of SLB worth $145,176,833 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Ameritas Advisory Services LLC increased its holdings in shares of SLB by 3.0% during the 2nd quarter. Ameritas Advisory Services LLC now owns 11,850 shares of the oil and gas company's stock worth $551,000 after purchasing an additional 342 shares during the period. Wedmont Private Capital increased its position in SLB by 9.6% during the 2nd quarter. Wedmont Private Capital now owns 15,375 shares of the oil and gas company's stock valued at $734,000 after purchasing an additional 1,353 shares during the period. HB Wealth Management LLC raised its stake in shares of SLB by 22.7% in the second quarter. HB Wealth Management LLC now owns 50,839 shares of the oil and gas company's stock worth $2,364,000 after purchasing an additional 9,420 shares during the last quarter. Saudi Central Bank lifted its position in shares of SLB by 90.6% during the 2nd quarter. Saudi Central Bank now owns 105,079 shares of the oil and gas company's stock valued at $4,885,000 after buying an additional 49,937 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. lifted its stake in SLB by 27.0% during the second quarter. Fortitude Advisory Group L.L.C. now owns 21,886 shares of the oil and gas company's stock worth $1,017,000 after purchasing an additional 4,653 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

SLB Stock Performance

Shares of NYSE SLB traded up $0.73 during trading hours on Tuesday, reaching $54.05. The stock had a trading volume of 6,059,362 shares, compared to its average volume of 16,249,188. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $60.46. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. The firm has a market cap of $80.23 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 3.19 and a beta of 0.76. The firm has a 50-day moving average of $52.04 and a 200-day moving average of $51.89.

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, topping analysts' consensus estimates of $0.51 by $0.04. The firm had revenue of $8.97 billion during 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 business's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company posted $0.74 EPS. Equities research analysts predict that SLB Limited will post 2.5 earnings per share for the current year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Wednesday, September 2nd will be paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB's dividend payout ratio (DPR) is 57.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Barclays lifted their target price on SLB from $64.00 to $67.00 and gave the stock an "overweight" rating in a report on Monday, July 27th. Sanford C. Bernstein restated an "outperform" rating on shares of SLB in a research report on Tuesday, September 1st. Jefferies Financial Group reiterated a "buy" rating and set a $66.00 target price on shares of SLB in a report on Sunday, July 26th. TD Cowen boosted their price objective on SLB from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Finally, Evercore reissued an "outperform" rating and issued a $66.00 price objective on shares of SLB in a research note on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, SLB presently has an average rating of "Moderate Buy" and a consensus price target of $61.80.

SLB Company Profile

SLB, formerly known as Schlumberger Limited, is a global technology and services company serving the energy industry. The company provides equipment, technology and technical expertise that help oil and gas producers locate, drill, complete and operate wells, as well as manage reservoirs and production assets.

Its offerings include seismic and subsurface evaluation, drilling and well-construction services, well completion and stimulation, artificial lift, production optimization, intervention services, subsea production systems and digital solutions.

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