26,505 Shares in SLB Limited $SLB Purchased by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board purchased a new stake in shares of SLB Limited (NYSE:SLB) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 26,505 shares of the oil and gas company’s stock, valued at approximately $896,000.

Several other institutional investors have also added to or reduced their stakes in SLB. Nuveen LLC purchased a new position in shares of SLB in the 1st quarter valued at $169,232,000. Assetmark Inc. lifted its stake in shares of SLB by 19.5% during the 2nd quarter. Assetmark Inc. now owns 56,561 shares of the oil and gas company’s stock worth $1,912,000 after purchasing an additional 9,210 shares during the last quarter. Shell Asset Management Co. boosted its position in SLB by 48.1% during the second quarter. Shell Asset Management Co. now owns 62,737 shares of the oil and gas company’s stock valued at $2,121,000 after purchasing an additional 20,387 shares in the last quarter. Godsey & Gibb Inc. grew its stake in SLB by 9.6% in the second quarter. Godsey & Gibb Inc. now owns 493,092 shares of the oil and gas company’s stock valued at $16,667,000 after purchasing an additional 43,135 shares during the last quarter. Finally, Emerald Advisors LLC bought a new position in SLB in the second quarter worth about $352,000. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of recent analyst reports. Barclays raised their price target on shares of SLB from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Redburn Partners set a $48.00 target price on shares of SLB in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. UBS Group reiterated a “buy” rating and set a $44.00 price objective on shares of SLB in a report on Tuesday, October 21st. Finally, Piper Sandler set a $42.00 target price on SLB and gave the stock an “overweight” rating in a research note on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, SLB currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.28.

Insider Transactions at SLB

In related news, EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the completion of the sale, the executive vice president owned 159,371 shares of the company’s stock, valued at $6,006,692.99. The trade was a 27.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dianne B. Ralston sold 39,727 shares of the 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 approximately $7,295,412.08. This trade represents a 16.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 138,174 shares of company stock worth $5,107,677 over the last three months. 0.22% of the stock is currently owned by insiders.

SLB Trading Down 3.0%

Shares of SLB stock opened at $35.83 on Tuesday. The firm’s 50 day simple moving average is $35.03 and its two-hundred day simple moving average is $34.79. The firm has a market capitalization of $53.53 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 10.19 and a beta of 0.97. SLB Limited has a 12-month low of $31.11 and a 12-month high of $44.97. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40.

SLB (NYSE:SLB) last announced 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. The firm had revenue of $8.93 billion for 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 business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 earnings per share. Analysts predict that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

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

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.