GTS Securities LLC Makes New $931,000 Investment in SLB Limited $SLB

GTS Securities LLC bought a new position in SLB Limited (NYSE:SLB) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 20,017 shares of the oil and gas company’s stock, valued at approximately $931,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLB. Evergreen Advisors LLC purchased a new position in SLB during the 1st quarter worth approximately $26,000. Costello Asset Management INC lifted its holdings in shares of SLB by 93.3% in 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. Arlington Trust Co LLC lifted its holdings in shares of SLB by 66.5% in the second quarter. Arlington Trust Co LLC now owns 701 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 280 shares in the last quarter. MV Capital Management Inc. acquired a new stake in shares of SLB in the fourth quarter worth $28,000. Finally, Maryland Capital Advisors Inc. acquired a new stake in shares of SLB in the second quarter worth $35,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Trading Up 4.3%

SLB stock opened at $57.40 on Friday. The company’s fifty day simple moving average is $49.70 and its 200-day simple moving average is $51.41. 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 12 month low of $31.64 and a 12 month high of $58.82. The stock has a market cap 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.

SLB (NYSE:SLB) last posted its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, topping 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 business had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same period in the prior year, the business posted $0.74 earnings per share. SLB’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, sell-side analysts forecast that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Wednesday, September 2nd will be given a $0.295 dividend. 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 presently 57.00%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Jefferies Financial Group reiterated a “buy” rating and set a $66.00 price target on shares of SLB in a report on Sunday, July 26th. Morgan Stanley increased their price objective on SLB from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Susquehanna raised their price objective on SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a research report on Monday, July 27th. Barclays lifted their target price on SLB from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Finally, Stifel Nicolaus upped their target price on SLB from $61.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently 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.