Palogic Value Management L.P. Acquires 1,647 Shares of SLB Limited $SLB

Palogic Value Management L.P. grew its holdings in SLB Limited (NYSE:SLB) by 4.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,244 shares of the oil and gas company’s stock after acquiring an additional 1,647 shares during the period. Palogic Value Management L.P.’s holdings in SLB were worth $1,293,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. SS&H Financial Advisors Inc. raised its position in SLB by 10.2% in the second quarter. SS&H Financial Advisors Inc. now owns 56,686 shares of the oil and gas company’s stock worth $1,916,000 after acquiring an additional 5,260 shares during the period. Cambiar Investors LLC raised its position in SLB by 261.8% in the second quarter. Cambiar Investors LLC now owns 1,309,803 shares of the oil and gas company’s stock worth $44,271,000 after acquiring an additional 947,773 shares during the period. Versor Investments LP bought a new position in SLB in the second quarter worth approximately $209,000. Welch & Forbes LLC raised its position in SLB by 8.7% in the second quarter. Welch & Forbes LLC now owns 11,880 shares of the oil and gas company’s stock worth $402,000 after acquiring an additional 950 shares during the period. Finally, Plato Investment Management Ltd raised its position in SLB by 8.3% in the second quarter. Plato Investment Management Ltd now owns 92,146 shares of the oil and gas company’s stock worth $3,103,000 after acquiring an additional 7,062 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Dianne B. Ralston sold 39,727 shares of the company’s 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 sale, the insider directly owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This represents a 16.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Melius Research assumed coverage on shares of SLB in a research report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target on the stock. Melius began coverage on shares of SLB in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective for the company. Piper Sandler set a $42.00 price objective on shares of SLB and gave the company an “overweight” rating in a research report on Monday, October 20th. UBS Group restated a “buy” rating and set a $44.00 target price on shares of SLB in a research note on Tuesday, October 21st. Finally, Susquehanna cut their price target on SLB from $44.00 to $42.00 and set a “positive” rating for the company in a research note on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.69.

SLB Price Performance

SLB stock opened at $36.06 on Friday. SLB Limited has a one year low of $31.11 and a one year high of $44.97. The company’s fifty day moving average price is $34.90 and its 200-day moving average price is $34.62. 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 has a market capitalization of $53.87 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 10.19 and a beta of 0.97.

SLB (NYSE:SLB) last released 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. The firm had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 earnings per share. On average, equities analysts anticipate that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, December 3rd. SLB’s dividend payout ratio (DPR) is currently 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.