UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Position in SLB Limited $SLB

Key Points

• UBS Asset Management significantly increased its SLB position by 6,358.2% in the second quarter, adding nearly 10 million shares to own 10.13 million shares valued at approximately $471.2 million.
• SLB reported quarterly earnings of $0.55 per share, exceeding estimates of $0.51, while revenue rose 5% year over year to $8.97 billion. The company also announced a quarterly dividend of $0.295 per share, implying a 2.1% annualized yield.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $61.35, compared with its recent price of $57.40.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in SLB Limited (NYSE:SLB - Free Report) by 6,358.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,134,731 shares of the oil and gas company's stock after buying an additional 9,977,804 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.68% of SLB worth $471,164,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mufg Securities Americas Inc. lifted its holdings in shares of SLB by 8.8% in the 2nd quarter. Mufg Securities Americas Inc. now owns 45,029 shares of the oil and gas company's stock worth $2,093,000 after acquiring an additional 3,653 shares during the last quarter. Nissay Asset Management Corp Japan raised its stake in shares of SLB by 31.7% in the second quarter. Nissay Asset Management Corp Japan now owns 290,178 shares of the oil and gas company's stock worth $13,490,000 after purchasing an additional 69,884 shares during the last quarter. Field & Main Bank grew its position in SLB by 22.1% in the 2nd quarter. Field & Main Bank now owns 1,905 shares of the oil and gas company's stock worth $89,000 after purchasing an additional 345 shares during the period. Archer Investment Corp purchased a new position in shares of SLB in the second quarter worth approximately $46,000. Finally, 49 Wealth Management LLC bought a new position in SLB in the 2nd quarter worth $229,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

SLB Stock Up 0.1%

NYSE:SLB opened at $57.40 on Monday. The company's 50-day simple moving average is $49.70 and its 200-day simple moving average is $51.41. 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 fifty-two week low of $31.64 and a fifty-two week high of $58.82. The stock has a market capitalization of $85.19 billion, a P/E ratio of 27.73, a P/E/G ratio of 3.78 and a beta of 0.73.

SLB (NYSE:SLB - Get Free Report) last announced its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share 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 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 was up 5.0% compared to the same quarter last year. During the same period last year, the firm earned $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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be paid a $0.295 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a yield of 2.1%. SLB's dividend payout ratio (DPR) is 57.00%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Sanford C. Bernstein boosted their target price on SLB from $56.10 to $71.00 and gave the stock an "outperform" rating in a research report on Monday, May 11th. Zacks Research raised shares of SLB from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 25th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of SLB in a research note on Monday, August 3rd. 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. Finally, UBS Group lowered their target price on SLB from $69.00 to $66.00 and set a "buy" rating for the company in a report on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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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