Friedenthal Financial Invests $1.07 Million in SLB Limited $SLB

Key Points

• Friedenthal Financial acquired 23,069 SLB shares worth approximately $1.07 million during the second quarter. Institutional investors collectively own 81.99% of the company, with major holders including Vanguard, State Street and Charles Schwab increasing their positions.
• SLB exceeded quarterly expectations, reporting $0.55 in EPS versus the $0.51 consensus and $8.97 billion in revenue versus $8.67 billion expected. Revenue rose 5% year over year, although earnings declined from $0.74 per share in the prior-year quarter.
• SLB declared a quarterly dividend of $0.295 per share, equivalent to an annualized $1.18 and a 2.2% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $61.35, above the reported $52.66 share price.

Friedenthal Financial bought a new stake in shares of SLB Limited (NYSE:SLB - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,069 shares of the oil and gas company's stock, valued at approximately $1,072,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SLB. Vanguard Group Inc. raised its position 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 period. State Street Corp boosted its holdings in shares of SLB by 1.0% in the 4th quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company's stock worth $3,263,998,000 after purchasing an additional 799,218 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of SLB by 2.8% during the 4th 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 last quarter. Morgan Stanley increased its position 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 purchasing an additional 482,533 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in 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 during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

SLB Price Performance

NYSE SLB opened at $52.66 on Thursday. The company has a market cap of $78.15 billion, a PE ratio of 25.44, a P/E/G ratio of 3.54 and a beta of 0.73. The firm's 50 day moving average price is $49.67 and its 200-day moving average price is $51.04. 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 $58.82.

SLB (NYSE:SLB - Get Free Report) last issued 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 company had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. SLB's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Sell-side analysts forecast that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SLB. JPMorgan Chase & Co. raised their price target on SLB from $54.00 to $61.00 and gave the stock an "overweight" rating in a research report on Monday, April 27th. 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. Citigroup lowered their target price on shares of SLB from $68.00 to $63.00 and set a "buy" rating for the company in a report on Wednesday, July 1st. Susquehanna lifted their price target on shares of SLB from $55.00 to $62.00 and gave the stock a "positive" rating in a research note on Monday, July 27th. Finally, TD Cowen upped their price target on shares of SLB from $62.00 to $64.00 and gave the company a "buy" rating in a report 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 assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.

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