SLB Limited $SLB Stake Boosted by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its stake in shares of SLB Limited (NYSE:SLB) by 14.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 16,954 shares of the oil and gas company’s stock after acquiring an additional 2,113 shares during the period. Concurrent Investment Advisors LLC’s holdings in SLB were worth $573,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SLB. Charles Schwab Investment Management Inc. grew its holdings in shares of SLB by 478.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock valued at $1,994,674,000 after acquiring an additional 39,474,501 shares in the last quarter. Boston Partners boosted its holdings in SLB by 27.7% in the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock worth $824,160,000 after purchasing an additional 4,300,222 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in SLB by 211.1% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company’s stock worth $250,507,000 after purchasing an additional 4,066,500 shares in the last quarter. Nuveen LLC bought a new stake in SLB in the first quarter worth $169,232,000. Finally, Banque Transatlantique SA boosted its holdings in SLB by 21,737.8% in the first quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company’s stock worth $71,821,000 after purchasing an additional 1,850,760 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SLB has been the subject of a number of recent research reports. UBS Group decreased their price objective on shares of SLB from $45.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, August 20th. Melius Research initiated coverage on shares of SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective for the company. Stifel Nicolaus decreased their price objective on shares of SLB from $54.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Melius initiated coverage on shares of SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective for the company. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

SLB Stock Down 1.0%

SLB stock opened at $32.58 on Friday. The firm has a market cap of $48.66 billion, a price-to-earnings ratio of 11.16, a P/E/G ratio of 9.20 and a beta of 0.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $44.97. The firm has a fifty day moving average price of $34.49 and a two-hundred day moving average price of $34.58.

SLB (NYSE:SLB) last released its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The firm had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.99 billion. SLB had a net margin of 11.53% and a return on equity of 20.99%. The business’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 EPS. As a group, analysts forecast that SLB Limited will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.5%. SLB’s dividend payout ratio is currently 39.04%.

Insider Activity at SLB

In other news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.22% of the company’s stock.

SLB Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.