Peak Asset Management LLC Buys 12,275 Shares of SLB Limited $SLB

Peak Asset Management LLC increased its position in SLB Limited (NYSE:SLB) by 33.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,481 shares of the oil and gas company’s stock after acquiring an additional 12,275 shares during the quarter. Peak Asset Management LLC’s holdings in SLB were worth $2,300,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SLB. Evergreen Advisors LLC bought a new position in SLB in the 1st quarter valued at $26,000. MV Capital Management Inc. purchased a new stake in shares of SLB in the fourth quarter worth $28,000. Strategic Wealth Advisors LLC bought a new stake in SLB during the fourth quarter valued at $30,000. Costello Asset Management INC grew its position 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 worth $30,000 after buying an additional 280 shares in the last quarter. Finally, Lloyd Advisory Services LLC. bought a new position in SLB in the 4th quarter worth about $31,000. Institutional investors own 81.99% of the company’s stock.

SLB Stock Up 0.2%

Shares of NYSE SLB opened at $53.99 on Tuesday. The stock has a market capitalization of $80.14 billion, a P/E ratio of 26.08, a PEG ratio of 3.55 and a beta of 0.73. SLB Limited has a one year low of $31.64 and a one year high of $58.82. The firm’s 50 day simple moving average is $49.30 and its two-hundred day simple moving average is $51.29. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05.

SLB (NYSE:SLB) last announced its quarterly earnings data 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. SLB had a net margin of 8.53% and a return on equity of 14.05%. The company had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $8.67 billion. During the same quarter in the prior year, the company earned $0.74 EPS. The firm’s revenue was up 5.0% on a year-over-year basis. As a group, analysts expect that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders 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 2.2%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio is presently 57.00%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SLB shares. Barclays upped their price objective on shares of SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Raymond James Financial cut their price target on shares of SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. BMO Capital Markets increased their price target on shares of SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. TD Cowen raised their price objective on shares of SLB from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Finally, JPMorgan Chase & Co. upped their target price on shares of SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Two equities research 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 data from MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and a consensus target price of $61.35.

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.