SLB Limited $SLB Shares Sold by PensionDanmark Pensionsforsikringsaktieselskab

Key Points

• PensionDanmark cut its SLB stake by 7.8% in the second quarter, selling 22,280 shares and retaining 263,717 shares valued at approximately $12.26 million. Institutional investors collectively own 81.99% of the company.
• SLB exceeded quarterly expectations, reporting adjusted earnings of $0.55 per share versus the $0.51 consensus and revenue of $8.97 billion versus $8.67 billion expected; revenue rose 5% year over year.
• The company declared a quarterly dividend of $0.295 per share, equivalent to an annualized $1.18 payout and a 2.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $61.35.

PensionDanmark Pensionsforsikringsaktieselskab trimmed its holdings in SLB Limited (NYSE:SLB - Free Report) by 7.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 263,717 shares of the oil and gas company's stock after selling 22,280 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab's holdings in SLB were worth $12,260,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in SLB by 0.6% during the 4th 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 acquiring an additional 1,080,999 shares during the last quarter. State Street Corp lifted its position in SLB by 1.0% during 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 acquiring an additional 799,218 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of SLB by 2.8% in 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 grew its stake in shares of SLB by 1.3% in 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 increased its holdings in shares of SLB by 1.5% in the fourth 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 purchasing an additional 510,747 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.

SLB Stock Down 2.0%

SLB opened at $50.52 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The stock has a market capitalization of $74.98 billion, a P/E ratio of 24.41, a P/E/G ratio of 3.40 and a beta of 0.73. The business has a 50 day simple moving average of $49.84 and a 200-day simple moving average of $50.91.

SLB (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates 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%.SLB's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 earnings per share. On average, equities analysts anticipate that SLB Limited will post 2.5 earnings per share for the current fiscal year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. SLB's dividend payout ratio is 57.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Evercore restated an "outperform" rating and set a $66.00 price target on shares of SLB in a research note on Monday, July 27th. UBS Group lowered their price objective on shares of SLB from $69.00 to $66.00 and set a "buy" rating on the stock in a research report on Wednesday, July 1st. Jefferies Financial Group reissued a "buy" rating and issued a $66.00 price objective on shares of SLB in a research note on Sunday, July 26th. TD Cowen upped their price objective on shares of SLB from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Finally, Citigroup reduced their target price on shares of SLB from $68.00 to $63.00 and set a "buy" rating for the company in a research note on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on 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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