SLB Limited $SLB Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its holdings in SLB Limited (NYSE:SLB) by 14.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,954 shares of the oil and gas company’s stock after acquiring an additional 2,113 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in SLB were worth $573,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in SLB during the first quarter worth approximately $169,232,000. Scharf Investments LLC raised its holdings in SLB by 20.5% during the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company’s stock worth $69,133,000 after purchasing an additional 281,773 shares in the last quarter. Alan B Lancz & Associates Inc. bought a new stake in SLB during the first quarter worth approximately $308,000. Godsey & Gibb Inc. raised its holdings in SLB by 9.6% during the second quarter. Godsey & Gibb Inc. now owns 493,092 shares of the oil and gas company’s stock worth $16,667,000 after purchasing an additional 43,135 shares in the last quarter. Finally, Shell Asset Management Co. raised its holdings 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 worth $2,121,000 after purchasing an additional 20,387 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

SLB Trading Down 1.0%

NYSE SLB opened at $32.58 on Friday. SLB Limited has a twelve month low of $31.11 and a twelve month high of $44.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The stock has a market cap of $48.66 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 9.20 and a beta of 0.97. The firm’s 50 day moving average price is $34.49 and its two-hundred day moving average price is $34.58.

SLB (NYSE:SLB) last posted its quarterly earnings data 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. SLB had a net margin of 11.53% and a return on equity of 20.99%. The firm had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.99 billion. During the same period in the previous year, the company posted $0.89 EPS. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. Equities analysts anticipate 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. Shareholders of record on Wednesday, December 3rd will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, December 3rd. SLB’s payout ratio is presently 39.04%.

Insiders Place Their Bets

In other SLB 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 transaction of $1,433,350.16. Following the transaction, the insider directly 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 is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SLB shares. Stifel Nicolaus dropped their target price on SLB from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Wells Fargo & Company cut SLB from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 20th. UBS Group dropped their price target on SLB from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Zacks Research raised SLB from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Finally, Melius started coverage on SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $52.00.

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.