Palogic Value Management L.P. Grows Stake in SLB Limited $SLB

Palogic Value Management L.P. boosted its stake in shares of SLB Limited (NYSE:SLB) by 4.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 38,244 shares of the oil and gas company’s stock after purchasing an additional 1,647 shares during the period. Palogic Value Management L.P.’s holdings in SLB were worth $1,293,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. First Command Advisory Services Inc. increased its position in shares of SLB by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 477 shares during the last quarter. Atticus Wealth Management LLC purchased a new position in SLB during the second quarter worth $29,000. Atlas Capital Advisors Inc. bought a new position in SLB during the first quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of SLB by 55.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 350 shares during the period. Finally, Park Square Financial Group LLC bought a new stake in shares of SLB in the 1st quarter worth about $38,000. 81.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on SLB shares. Melius initiated coverage on shares of SLB in a research report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective on the stock. Wells Fargo & Company downgraded SLB from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 20th. JPMorgan Chase & Co. dropped their price objective on SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a research note on Wednesday, October 8th. Finally, UBS Group reiterated a “buy” rating and set a $44.00 target price on shares of SLB in a research report on Tuesday, October 21st. 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.69.

SLB Trading Down 0.7%

SLB opened at $36.06 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. The stock’s fifty day moving average is $34.90 and its two-hundred day moving average is $34.62. The company has a market capitalization of $53.87 billion, a P/E ratio of 13.92, a PEG ratio of 10.19 and a beta of 0.97. SLB Limited has a 52 week low of $31.11 and a 52 week high of $44.97.

SLB (NYSE:SLB) last issued its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. The business had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.99 billion. SLB had a return on equity of 18.97% and a net margin of 10.34%.The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 EPS. Analysts forecast that SLB Limited will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, December 3rd. SLB’s dividend payout ratio is presently 44.02%.

Insider Buying and Selling

In other news, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.22% of the company’s stock.

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.