McGinn Penninger Investment Management Inc. Acquires 3,605 Shares of SLB Limited $SLB

McGinn Penninger Investment Management Inc. boosted its position in shares of SLB Limited (NYSE:SLB) by 3.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 95,235 shares of the oil and gas company’s stock after buying an additional 3,605 shares during the quarter. SLB makes up approximately 2.0% of McGinn Penninger Investment Management Inc.’s investment portfolio, making the stock its 21st biggest holding. McGinn Penninger Investment Management Inc.’s holdings in SLB were worth $3,219,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SLB. Charles Schwab Investment Management Inc. lifted its holdings 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 worth $1,994,674,000 after buying an additional 39,474,501 shares in the last quarter. Boston Partners increased its position in shares of SLB by 27.7% in 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 buying an additional 4,300,222 shares in the last quarter. Northern Trust Corp increased its position in shares of SLB by 4.4% in the 1st quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock valued at $602,860,000 after buying an additional 604,832 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of SLB by 22.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company’s stock valued at $375,738,000 after buying an additional 1,667,203 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in SLB by 3.8% in the 1st quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company’s stock worth $320,154,000 after purchasing an additional 281,937 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Stock Performance

SLB stock opened at $37.01 on Tuesday. The firm’s fifty day moving average price is $34.93 and its 200-day moving average price is $34.63. 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 stock has a market cap of $55.29 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 10.19 and a beta of 0.97. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $44.97.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.02. The business had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. The company’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 earnings per share. On average, equities research analysts expect that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Dividend Announcement

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 given a dividend of $0.285 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.1%. SLB’s dividend payout ratio is currently 44.02%.

Wall Street Analyst Weigh In

SLB has been the subject of a number of recent research reports. Redburn Partners set a $48.00 price objective on shares of SLB in a research note on Monday. Zacks Research raised shares of SLB from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Rothschild & Co Redburn initiated coverage on SLB in a research note on Monday. They set a “buy” rating and a $48.00 price target on the stock. Barclays lifted their target price on SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Finally, Stifel Nicolaus decreased their price target on shares of SLB from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $51.28.

Insider Buying and Selling at SLB

In other news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction 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 sale, 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 legal filing with the SEC, which can be accessed through this link. 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.