SLB Limited $SLB Shares Purchased by Thornburg Investment Management Inc.

Key Points

• Thornburg Investment Management increased its SLB stake by 221.2% in the second quarter, adding 73,352 shares for a total holding of 106,506 shares valued at approximately $4.95 million. Institutional investors and hedge funds own 81.99% of the company.
• Analysts maintain a generally positive view of SLB, with a consensus rating of “Moderate Buy” and an average price target of $61.35, above the reported share price of $57.40.
• SLB exceeded quarterly earnings and revenue expectations, reporting adjusted EPS of $0.55 and revenue of $8.97 billion, while also declaring a quarterly dividend of $0.295 per share, equivalent to a 2.1% annualized yield.

Thornburg Investment Management Inc. boosted its holdings in shares of SLB Limited (NYSE:SLB - Free Report) by 221.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,506 shares of the oil and gas company's stock after acquiring an additional 73,352 shares during the period. Thornburg Investment Management Inc.'s holdings in SLB were worth $4,951,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SLB. Evergreen Advisors LLC acquired a new stake in SLB during the 1st quarter valued at $26,000. MV Capital Management Inc. acquired a new position in shares of SLB in the fourth quarter worth $28,000. Strategic Wealth Advisors LLC purchased a new stake in shares of SLB in the fourth quarter valued at $30,000. Costello Asset Management INC lifted its position in shares of SLB by 93.3% in the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 280 shares in the last quarter. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of SLB during the fourth quarter valued at $31,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on SLB shares. Susquehanna lifted their price objective on SLB from $55.00 to $62.00 and gave the stock a "positive" rating in a research report on Monday, July 27th. TD Cowen raised their price target on shares of SLB from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Stifel Nicolaus lifted their price target on shares of SLB from $61.00 to $64.00 and gave the stock a "buy" rating in a report on Thursday, June 18th. Zacks Research raised shares of SLB from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 25th. Finally, Raymond James Financial reduced their price objective on shares of SLB from $62.00 to $61.00 and set an "outperform" rating on the stock in a research note on Friday, July 10th. Two investment 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $61.35.

SLB Stock Performance

NYSE SLB opened at $57.40 on Friday. The business's 50-day moving average price is $49.70 and its 200 day moving average price is $51.41. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82. The company has a market capitalization of $85.19 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 3.78 and a beta of 0.73.

SLB (NYSE:SLB - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $8.97 billion during the quarter, compared to analysts' expectations of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.The firm's revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 EPS. On average, research analysts predict that SLB Limited will post 2.5 earnings per share for the current year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors 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 dividend payout ratio is 57.00%.

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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