Russell Investments Group Ltd. Grows Holdings in SLB Limited $SLB

Russell Investments Group Ltd. increased its holdings in SLB Limited (NYSE:SLB) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,918,976 shares of the oil and gas company’s stock after acquiring an additional 45,481 shares during the quarter. Russell Investments Group Ltd.’s holdings in SLB were worth $64,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of SLB. Atticus Wealth Management LLC purchased a new stake in SLB in the second quarter worth about $29,000. Atlas Capital Advisors Inc. bought a new stake in shares of SLB in the 1st quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of SLB by 55.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 350 shares in the last quarter. NewSquare Capital LLC grew its stake in shares of SLB by 51.4% in the 2nd quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock worth $34,000 after buying an additional 341 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in SLB during the 1st quarter valued at approximately $40,000. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the subject of a number of recent research reports. UBS Group reiterated a “buy” rating and set a $44.00 price objective on shares of SLB in a research note on Tuesday, October 21st. Zacks Research raised SLB from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Melius initiated coverage on shares of SLB in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective on the stock. Citigroup lifted their target price on shares of SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Finally, Rothschild Redb upgraded shares of SLB to a “strong-buy” rating in a research note on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $51.28.

Insider Buying and Selling at SLB

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on 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 transaction, the executive vice president directly owned 159,371 shares of the company’s stock, valued at $6,006,692.99. This represents a 27.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 138,174 shares of company stock worth $5,107,677. Insiders own 0.22% of the company’s stock.

SLB Price Performance

NYSE SLB opened at $35.69 on Friday. SLB Limited has a one year low of $31.11 and a one year high of $44.66. The stock has a 50-day moving average of $35.10 and a 200 day moving average of $34.88. 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 $53.31 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 10.19 and a beta of 0.97.

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

SLB Announces Dividend

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