14,171 Shares of SLB Limited $SLB Bought by Cidel Asset Management Inc.

Cidel Asset Management Inc. acquired a new stake in SLB Limited (NYSE:SLB) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,171 shares of the oil and gas company’s stock, valued at approximately $690,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Saudi Central Bank grew its holdings in SLB by 90.6% during the second quarter. Saudi Central Bank now owns 105,079 shares of the oil and gas company’s stock worth $4,885,000 after acquiring an additional 49,937 shares during the period. Bank of America Corp DE lifted its holdings in SLB by 11.1% in the 1st quarter. Bank of America Corp DE now owns 10,536,104 shares of the oil and gas company’s stock valued at $541,450,000 after acquiring an additional 1,052,239 shares during the last quarter. State Street Corp lifted its holdings in SLB by 0.8% in the 2nd quarter. State Street Corp now owns 91,222,641 shares of the oil and gas company’s stock valued at $4,267,269,000 after acquiring an additional 722,060 shares during the last quarter. Nan Shan Life Insurance Co. Ltd. boosted its position in shares of SLB by 513.8% during the 2nd quarter. Nan Shan Life Insurance Co. Ltd. now owns 736,544 shares of the oil and gas company’s stock valued at $34,242,000 after purchasing an additional 616,544 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in shares of SLB by 707.9% during the 1st quarter. QRG Capital Management Inc. now owns 115,079 shares of the oil and gas company’s stock valued at $5,914,000 after purchasing an additional 100,834 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

SLB has been the topic of several recent research reports. The Goldman Sachs Group lowered their price objective on shares of SLB from $63.00 to $62.00 in a research note on Tuesday, July 7th. JPMorgan Chase & Co. raised their target price on shares of SLB from $61.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. UBS Group decreased their price target on shares of SLB from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, October 26th. TD Cowen restated a “buy” rating on shares of SLB in a research report on Monday, October 26th. Finally, Susquehanna upped their price target on SLB from $55.00 to $62.00 and gave the company a “positive” rating in a report on Monday, July 27th. Twenty-four research 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.52.

Insider Buying and Selling at SLB

In related news, insider Dianne B. Ralston sold 20,986 shares of the company’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $53.57, for a total transaction of $1,124,220.02. Following the transaction, the insider directly owned 205,053 shares of the company’s stock, valued at approximately $10,984,689.21. The trade was a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Howard Guild sold 10,047 shares of the stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $53.65, for a total value of $539,021.55. Following the completion of the sale, the chief accounting officer directly owned 12,845 shares of the company’s stock, valued at approximately $689,134.25. This represents a 43.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.16% of the company’s stock.

SLB Stock Up 0.1%

SLB stock opened at $53.78 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.39 and a quick ratio of 1.02. The firm has a market capitalization of $79.38 billion, a P/E ratio of 26.11, a P/E/G ratio of 2.98 and a beta of 0.83. SLB Limited has a 52-week low of $34.65 and a 52-week high of $60.46. The company’s 50 day simple moving average is $52.50 and its 200-day simple moving average is $51.37.

SLB (NYSE:SLB) last posted its quarterly earnings data on Friday, October 23rd. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. SLB had a net margin of 8.40% and a return on equity of 13.77%. The firm had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same quarter last year, the business posted $0.69 EPS. The company’s revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts anticipate that SLB Limited will post 2.46 EPS for the current year.

SLB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Wednesday, December 2nd will be issued a $0.2950 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.2%. 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.