Rossby Financial LCC Boosts Position in SLB Limited $SLB

Rossby Financial LCC increased its stake in SLB Limited (NYSE:SLB) by 23.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,926 shares of the oil and gas company’s stock after acquiring an additional 1,511 shares during the quarter. Rossby Financial LCC’s holdings in SLB were worth $268,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SLB. Charles Schwab Investment Management Inc. increased its position in 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 purchasing an additional 39,474,501 shares during the period. Boston Partners increased its position in SLB by 27.7% during the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock valued at $824,160,000 after purchasing an additional 4,300,222 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in SLB by 211.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company’s stock valued at $250,507,000 after purchasing an additional 4,066,500 shares during the period. Nuveen LLC purchased a new position in SLB during the 1st quarter valued at about $169,232,000. Finally, Banque Transatlantique SA increased its position in SLB by 21,737.8% during the 1st quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company’s stock valued at $71,821,000 after purchasing an additional 1,850,760 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on SLB. Susquehanna cut their target price on shares of SLB from $44.00 to $42.00 and set a “positive” rating on the stock in a research report on Monday, July 21st. Stifel Nicolaus cut their target price 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. UBS Group reissued a “buy” rating and set a $44.00 target price on shares of SLB in a research report on Tuesday, October 21st. Melius Research began coverage on shares of SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target on the stock. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of SLB in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.69.

SLB Stock Down 0.8%

NYSE:SLB opened at $35.86 on Wednesday. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $44.97. The stock has a market capitalization of $53.57 billion, a P/E ratio of 13.84, a P/E/G ratio of 10.01 and a beta of 0.97. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. The company’s 50-day simple moving average is $34.77 and its 200-day simple moving average is $34.56.

SLB (NYSE:SLB) last released its quarterly earnings results 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 period last year, the business earned $0.89 EPS. The company’s revenue was down 2.5% compared to the same quarter last year. On average, equities analysts anticipate that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Announces Dividend

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

Insider Buying and Selling

In related news, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction that occurred on 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 directly owned 202,201 shares in the company, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is owned by company insiders.

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.