Varma Mutual Pension Insurance Co Sells 16,000 Shares of SLB Limited $SLB

Varma Mutual Pension Insurance Co trimmed its stake in SLB Limited (NYSE:SLB) by 4.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 375,652 shares of the oil and gas company’s stock after selling 16,000 shares during the period. Varma Mutual Pension Insurance Co’s holdings in SLB were worth $17,464,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SLB. Vanguard Group Inc. increased its position in SLB by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock worth $7,156,177,000 after buying an additional 1,080,999 shares in the last quarter. State Street Corp raised its stake in shares of SLB by 1.0% in the fourth quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company’s stock worth $3,263,998,000 after buying an additional 799,218 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of SLB by 2.8% during 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 buying an additional 1,458,650 shares in the last quarter. Morgan Stanley lifted its position in shares of SLB by 1.3% during 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 buying an additional 482,533 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of SLB by 1.5% during the 4th 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 acquiring an additional 510,747 shares during the period. 81.99% of the stock is owned by institutional investors.

SLB Stock Up 0.7%

Shares of SLB stock opened at $53.90 on Friday. The stock has a market cap of $80.00 billion, a P/E ratio of 26.04, a PEG ratio of 3.55 and a beta of 0.73. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The company’s fifty day simple moving average is $49.30 and its two-hundred day simple moving average is $51.24.

SLB (NYSE:SLB) last released 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 business 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%. The business’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 EPS. Analysts predict that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors 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 yield of 2.2%. SLB’s dividend payout ratio is presently 57.00%.

Wall Street Analysts Forecast Growth

SLB has been the subject of several analyst reports. Zacks Research lowered shares of SLB from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. BMO Capital Markets upped their price target on shares of SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. increased their price objective on shares of SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Citigroup decreased their price objective on shares of SLB from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Finally, Wolfe Research initiated coverage on shares of SLB in a research report on Wednesday, July 8th. They set an “outperform” rating and a $62.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.