Crossmark Global Holdings Inc. Purchases 11,507 Shares of SLB Limited $SLB

Crossmark Global Holdings Inc. increased its holdings in SLB Limited (NYSE:SLB) by 3.8% in the second quarter, Holdings Channel reports. The fund owned 311,900 shares of the oil and gas company’s stock after purchasing an additional 11,507 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in SLB were worth $14,500,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in SLB during the 4th quarter valued at about $809,557,000. Bank of New York Mellon Corp raised its holdings in shares of SLB by 56.8% in the 1st quarter. Bank of New York Mellon Corp now owns 24,615,243 shares of the oil and gas company’s stock valued at $1,264,977,000 after purchasing an additional 8,918,412 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of SLB by 50.6% in the 4th 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 boosted its stake in shares of 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 valued at $2,898,037,000 after purchasing an additional 5,466,786 shares in the last quarter. Finally, Capital International Investors boosted its stake in shares of 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 valued at $446,247,000 after purchasing an additional 5,404,948 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

SLB Stock Down 1.2%

SLB stock opened at $51.99 on Friday. The firm has a 50 day moving average of $49.54 and a 200 day moving average of $51.07. The stock has a market capitalization of $77.16 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 3.47 and a beta of 0.73. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82.

SLB (NYSE:SLB) last issued its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $8.97 billion for the quarter, compared to analyst estimates 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 prior year, the business posted $0.74 EPS. Sell-side analysts forecast that SLB Limited will post 2.5 earnings per share for the current year.

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB’s dividend payout ratio is presently 57.00%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SLB. Sanford C. Bernstein lifted their price objective on shares of SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SLB in a research report on Monday, August 3rd. Stifel Nicolaus increased their target price on SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $61.00 price target on shares of SLB in a report on Tuesday, June 16th. Finally, Evercore reissued an “outperform” rating and issued a $66.00 price target on shares of SLB in a research report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.