Nissay Asset Management Corp Japan Grows Position in SLB Limited $SLB

Nissay Asset Management Corp Japan raised its holdings in shares of SLB Limited (NYSE:SLB) by 31.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 290,178 shares of the oil and gas company’s stock after purchasing an additional 69,884 shares during the period. Nissay Asset Management Corp Japan’s holdings in SLB were worth $13,490,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Bank of New York Mellon Corp bought a new position in shares of SLB during the second quarter valued at approximately $1,339,567,000. Norges Bank bought a new position in SLB in the fourth quarter worth approximately $809,557,000. Wellington Management Group LLP raised its stake in SLB by 50.6% in 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 buying an additional 5,589,585 shares in the last quarter. State Street Corp lifted its holdings 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 period. Finally, Capital International Investors lifted its holdings 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 period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the topic of a number of analyst reports. TD Cowen lifted their price target on SLB from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, July 27th. Royal Bank Of Canada restated an “outperform” rating and set a $61.00 price objective on shares of SLB in a research note on Tuesday, June 16th. Barclays raised their price objective on SLB from $64.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Evercore reiterated an “outperform” rating and issued a $66.00 target price on shares of SLB in a research note on Monday, July 27th. Finally, Stifel Nicolaus boosted their target price on shares of SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, SLB has a consensus rating of “Moderate Buy” and an average price target of $61.35.

SLB Price Performance

NYSE SLB opened at $57.40 on Friday. The firm’s fifty day simple moving average is $49.70 and its two-hundred day simple moving average is $51.41. The firm 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. 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 12-month low of $31.64 and a 12-month high of $58.82.

SLB (NYSE:SLB) last issued its quarterly earnings data 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 firm had revenue of $8.97 billion during 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%.The business’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. Analysts forecast that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Dividend Announcement

The firm 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 dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB’s dividend payout ratio is currently 57.00%.

SLB 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.