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

Cambiar Investors LLC raised its stake in shares of SLB Limited (NYSE:SLB) by 261.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,309,803 shares of the oil and gas company’s stock after acquiring an additional 947,773 shares during the period. SLB comprises approximately 1.9% of Cambiar Investors LLC’s investment portfolio, making the stock its 22nd largest holding. Cambiar Investors LLC owned 0.10% of SLB worth $44,271,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. First Command Advisory Services Inc. lifted its stake in 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 acquiring an additional 477 shares in the last quarter. Atlas Capital Advisors Inc. bought a new position in SLB during the 1st quarter valued at $33,000. Atticus Wealth Management LLC bought a new position in shares of SLB in the second quarter valued at approximately $29,000. Park Square Financial Group LLC bought a new position in shares of SLB in the first quarter valued at approximately $38,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of SLB in the first quarter valued at approximately $40,000. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SLB

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

Analyst Upgrades and Downgrades

SLB has been the subject of several recent analyst reports. Citigroup upped their target price on SLB from $46.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Stifel Nicolaus reduced their target price on SLB from $54.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Piper Sandler set a $42.00 target price on SLB and gave the company an “overweight” rating in a report on Monday, October 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of SLB in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reduced 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. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.69.

SLB Trading Down 0.7%

Shares of SLB opened at $36.06 on Friday. The business has a 50-day moving average of $34.90 and a 200 day moving average of $34.62. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $44.97. The firm has a market cap of $53.87 billion, a P/E ratio of 13.92, a price-to-earnings-growth ratio of 10.19 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.

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

SLB Announces Dividend

The company also recently declared 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. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Wednesday, December 3rd. SLB’s payout ratio is 44.02%.

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.