Osmosis Investment Management UK Ltd Has $1.01 Million Position in SLB Limited $SLB

Key Points

• Osmosis Investment Management UK Ltd. cut its SLB position by 69.5% in the second quarter, selling 49,344 shares and retaining 21,682 shares valued at approximately $1.01 million.
• Institutional ownership remains high at 81.99%, with several major investors—including Bank of New York Mellon, Norges Bank, Wellington Management and Capital International Investors—establishing or expanding their positions.
• SLB beat quarterly earnings expectations with EPS of $0.55 and revenue of $8.97 billion, while declaring a $0.295 quarterly dividend. Analysts maintain a “Moderate Buy” consensus with an average price target of $61.35.

Osmosis Investment Management UK Ltd lessened its position in SLB Limited (NYSE:SLB - Free Report) by 69.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,682 shares of the oil and gas company's stock after selling 49,344 shares during the period. Osmosis Investment Management UK Ltd's holdings in SLB were worth $1,008,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SLB. Bank of New York Mellon Corp bought a new stake in shares of SLB in the 2nd quarter valued at about $1,339,567,000. Norges Bank bought a new position in SLB during the fourth quarter worth about $809,557,000. Wellington Management Group LLP grew its holdings in SLB by 50.6% during the fourth quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company's stock worth $638,473,000 after purchasing an additional 5,589,585 shares during the period. State Street Corp increased its position in SLB by 7.0% during the third quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company's stock worth $2,898,037,000 after buying an additional 5,466,786 shares during the last quarter. Finally, Capital International Investors increased its position in SLB by 86.9% during the fourth quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company's stock worth $446,247,000 after buying an additional 5,404,948 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Stock Up 0.2%

SLB stock opened at $53.99 on Tuesday. The company's 50-day moving average price is $49.30 and its two-hundred day moving average price is $51.29. 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 stock has a market cap of $80.14 billion, a P/E ratio of 26.08, a P/E/G ratio of 3.55 and a beta of 0.73. SLB Limited has a twelve month low of $31.64 and a twelve month 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. SLB had a return on equity of 14.05% and a net margin of 8.53%.The company had revenue of $8.97 billion during the quarter, compared to analysts' expectations of $8.67 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The business's revenue was up 5.0% on a year-over-year basis. As a group, analysts expect that SLB Limited will post 2.5 EPS for the current year.

SLB Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on SLB shares. Jefferies Financial Group restated a "buy" rating and issued a $66.00 price objective on shares of SLB in a research note on Sunday, July 26th. Raymond James Financial reduced their target price on SLB from $62.00 to $61.00 and set an "outperform" rating for the company in a research note on Friday, July 10th. Evercore reissued an "outperform" rating and set a $66.00 target price on shares of SLB in a report on Monday, July 27th. Stifel Nicolaus increased their price target on SLB from $61.00 to $64.00 and gave the company a "buy" rating in a research note on Thursday, June 18th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of SLB in a report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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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