Hamlin Capital Management LLC Grows Position in SLB Limited $SLB

Hamlin Capital Management LLC grew its position in SLB Limited (NYSE:SLB) by 53.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,644,026 shares of the oil and gas company’s stock after acquiring an additional 572,287 shares during the quarter. SLB accounts for 1.7% of Hamlin Capital Management LLC’s portfolio, making the stock its 27th biggest holding. Hamlin Capital Management LLC’s holdings in SLB were worth $76,431,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Evergreen Advisors LLC purchased a new position in shares of SLB in the first quarter valued at $26,000. MV Capital Management Inc. bought a new stake in SLB in the fourth quarter worth $28,000. Strategic Wealth Advisors LLC purchased a new stake in SLB during the fourth quarter valued at $30,000. Costello Asset Management INC raised its stake in SLB by 93.3% during the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 280 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in SLB during the fourth quarter valued at $31,000. Institutional investors own 81.99% of the company’s stock.

SLB Trading Down 1.6%

Shares of SLB opened at $49.97 on Thursday. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82. The company has a market cap of $74.17 billion, a P/E ratio of 24.14, a P/E/G ratio of 3.35 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. The company’s fifty day simple moving average is $49.99 and its 200-day simple moving average is $50.88.

SLB (NYSE:SLB) last released its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, topping 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 net margin of 8.53% and a return on equity of 14.05%. The business’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business earned $0.74 EPS. As a group, analysts expect that SLB Limited will post 2.5 EPS for the current year.

SLB Announces Dividend

The firm also recently announced 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 2.4%. SLB’s dividend payout ratio is currently 57.00%.

Wall Street Analyst Weigh In

SLB has been the subject of a number of recent research reports. Stifel Nicolaus lifted their price objective on shares of SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Royal Bank Of Canada restated an “outperform” rating and set a $61.00 target price on shares of SLB in a research report on Tuesday, June 16th. TD Cowen increased their price target on shares of SLB from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, July 27th. Morgan Stanley lifted their price target on SLB from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Finally, UBS Group reduced their price objective on SLB from $69.00 to $66.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, SLB 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.