Sanctuary Advisors LLC Decreases Stock Holdings in SLB Limited $SLB

Sanctuary Advisors LLC lowered its stake in SLB Limited (NYSE:SLB) by 18.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 389,003 shares of the oil and gas company’s stock after selling 89,180 shares during the quarter. Sanctuary Advisors LLC’s holdings in SLB were worth $18,085,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Evergreen Advisors LLC purchased a new stake in SLB during the 1st quarter worth approximately $26,000. Costello Asset Management INC lifted its position 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 acquiring an additional 280 shares in the last quarter. Arlington Trust Co LLC boosted its stake 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 worth $33,000 after acquiring an additional 280 shares during the last quarter. MV Capital Management Inc. acquired a new stake in shares of SLB in the fourth quarter worth approximately $28,000. Finally, Maryland Capital Advisors Inc. purchased a new stake in shares of SLB during the second quarter worth approximately $35,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on SLB shares. Citigroup reduced their price objective on SLB from $68.00 to $63.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Zacks Research cut shares of SLB from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. TD Cowen raised their price target on shares of SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Barclays boosted their price target 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. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of SLB in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.35.

SLB Stock Up 0.1%

Shares of NYSE:SLB opened at $53.90 on Monday. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82. 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. The business has a fifty day moving average of $49.30 and a two-hundred day moving average of $51.26. 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 (NYSE:SLB) last announced its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. SLB had a net margin of 8.53% and a return on equity of 14.05%. The firm had revenue of $8.97 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same quarter in the previous year, the company posted $0.74 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. On average, research analysts expect that SLB Limited will post 2.5 earnings per share for the current year.

SLB Dividend Announcement

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 issued a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, September 2nd. SLB’s payout ratio is presently 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.