Cambiar Investors LLC Buys 947,773 Shares of SLB Limited $SLB

Cambiar Investors LLC raised its position in shares of SLB Limited (NYSE:SLB) by 261.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,309,803 shares of the oil and gas company’s stock after purchasing an additional 947,773 shares during the period. SLB makes up approximately 1.9% of Cambiar Investors LLC’s holdings, making the stock its 22nd largest holding. Cambiar Investors LLC’s holdings in SLB were worth $44,271,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Legacy Wealth Asset Management LLC increased its holdings in SLB by 2.2% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock valued at $486,000 after purchasing an additional 308 shares during the period. EntryPoint Capital LLC boosted its stake in SLB by 4.5% in the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock worth $307,000 after purchasing an additional 316 shares during the period. Horizon Investments LLC lifted its holdings in shares of SLB by 1.5% in the first quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock worth $946,000 after buying an additional 330 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in SLB by 6.3% in the 1st quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock valued at $236,000 after acquiring an additional 335 shares during the last quarter. Finally, Forza Wealth Management LLC lifted its stake in SLB by 5.8% in the 1st quarter. Forza Wealth Management LLC now owns 6,374 shares of the oil and gas company’s stock worth $266,000 after purchasing an additional 350 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Transactions at SLB

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was 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 in the company, valued at $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is currently owned by insiders.

SLB Stock Performance

NYSE:SLB opened at $36.06 on Friday. The firm has a market capitalization of $53.87 billion, a PE ratio of 13.92, a PEG ratio of 10.19 and a beta of 0.97. The stock’s fifty day moving average is $34.90 and its 200 day moving average is $34.62. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $44.97. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39.

SLB (NYSE:SLB) last posted its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. SLB had a net margin of 10.34% and a return on equity of 18.97%. The business had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.99 billion. During the same quarter in the previous year, the business posted $0.89 earnings per share. The business’s revenue was down 2.5% compared to the same quarter last year. On average, sell-side analysts anticipate that SLB Limited will post 3.38 earnings per share for the current year.

SLB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio is 44.02%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SLB. JPMorgan Chase & Co. cut their price objective on SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Susquehanna cut their price target on SLB from $44.00 to $42.00 and set a “positive” rating for the company in a report on Monday, July 21st. Citigroup upped their price objective on SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Wells Fargo & Company lowered shares of SLB from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 20th. Finally, Stifel Nicolaus reduced their price target on shares of SLB from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.69.

About SLB

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.