SLB Limited $SLB Holdings Raised by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. lifted its position in shares of SLB Limited (NYSE:SLB) by 9.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 267,096 shares of the oil and gas company’s stock after buying an additional 22,214 shares during the period. Rakuten Investment Management Inc.’s holdings in SLB were worth $13,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SLB. Evergreen Advisors LLC purchased a new stake in SLB in the 1st quarter valued at about $26,000. Costello Asset Management INC increased its holdings in SLB by 93.3% in the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 280 shares during the last quarter. Arlington Trust Co LLC lifted its stake in SLB by 66.5% during the second quarter. Arlington Trust Co LLC now owns 701 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 280 shares in the last quarter. Signature Equity Partners LLC lifted its stake in SLB by 42.5% during the third quarter. Signature Equity Partners LLC now owns 751 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 224 shares in the last quarter. Finally, Maryland Capital Advisors Inc. acquired a new stake in shares of SLB in the second quarter valued at $35,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on SLB shares. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price target (down from $63.00) on shares of SLB in a research report on Tuesday, September 1st. UBS Group decreased their price target on shares of SLB from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, October 26th. Barclays reduced their price objective on shares of SLB from $66.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Freedom Broker raised SLB from a “sell” rating to a “hold” rating and set a $48.00 price objective for the company in a research report on Monday, October 26th. Finally, Evercore increased their price target on shares of SLB from $63.00 to $66.00 in a research note on Thursday, October 8th. Twenty-four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.52.

Insider Buying and Selling

In other news, CAO Howard Guild sold 10,047 shares of SLB stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $53.65, for a total transaction of $539,021.55. Following the completion of the transaction, the chief accounting officer owned 12,845 shares of the company’s stock, valued at $689,134.25. The trade was a 43.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Dianne B. Ralston sold 20,986 shares of the firm’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $53.57, for a total transaction of $1,124,220.02. Following the transaction, the insider owned 205,053 shares of the company’s stock, valued at $10,984,689.21. This trade represents a 9.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is currently owned by company insiders.

SLB Stock Down 1.3%

Shares of NYSE:SLB opened at $51.44 on Thursday. The company has a market cap of $75.92 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 2.89 and a beta of 0.80. The firm’s 50-day simple moving average is $52.39 and its 200-day simple moving average is $51.45. The company has a quick ratio of 1.02, a current ratio of 1.39 and a debt-to-equity ratio of 0.41. SLB Limited has a fifty-two week low of $34.65 and a fifty-two week high of $60.46.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.27 billion. SLB had a return on equity of 13.77% and a net margin of 8.40%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 earnings per share. As a group, equities research analysts predict that SLB Limited will post 2.46 earnings per share for the current year.

SLB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Wednesday, December 2nd will be given a dividend of $0.2950 per share. This represents a $1.18 annualized dividend and a yield of 2.3%. The ex-dividend date is Wednesday, December 2nd. SLB’s dividend payout ratio is presently 57.28%.

SLB Company Profile

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.