Clifford Swan Investment Counsel LLC Has $18.39 Million Stock Position in SLB Limited $SLB

Clifford Swan Investment Counsel LLC increased its stake in SLB Limited (NYSE:SLB) by 2.3% in the second quarter, Holdings Channel.com reports. The firm owned 544,104 shares of the oil and gas company’s stock after purchasing an additional 12,488 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in SLB were worth $18,391,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. RNC Capital Management LLC lifted its position in shares of SLB by 1.2% in the second quarter. RNC Capital Management LLC now owns 57,035 shares of the oil and gas company’s stock worth $1,928,000 after purchasing an additional 659 shares in the last quarter. Forum Financial Management LP grew its position in SLB by 4.0% in the second quarter. Forum Financial Management LP now owns 21,248 shares of the oil and gas company’s stock valued at $718,000 after purchasing an additional 824 shares in the last quarter. Ethic Inc. increased its stake in SLB by 47.6% in the 2nd quarter. Ethic Inc. now owns 81,760 shares of the oil and gas company’s stock valued at $2,781,000 after buying an additional 26,375 shares during the last quarter. Adams Natural Resources Fund Inc. lifted its position in SLB by 794.0% during the 2nd quarter. Adams Natural Resources Fund Inc. now owns 369,233 shares of the oil and gas company’s stock worth $12,480,000 after buying an additional 327,933 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in SLB during the 2nd quarter worth about $72,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SLB

In other news, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.22% of the company’s stock.

SLB Stock Performance

NYSE SLB opened at $34.88 on Thursday. SLB Limited has a 52-week low of $31.11 and a 52-week high of $44.97. The stock has a market cap of $52.09 billion, a PE ratio of 13.47, a P/E/G ratio of 9.34 and a beta of 0.97. The firm has a 50-day moving average of $34.55 and a 200-day moving average of $34.49. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39.

SLB (NYSE:SLB) last issued its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $8.99 billion. During the same period last year, the business posted $0.89 earnings per share. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, sell-side 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. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a yield of 3.3%. SLB’s dividend payout ratio (DPR) is presently 44.02%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Stifel Nicolaus decreased their price objective on SLB from $54.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. JPMorgan Chase & Co. lowered their price target on SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Monday. Atb Cap Markets raised shares of SLB from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 1st. Melius started coverage on shares of SLB in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target for the company. Finally, Citigroup upped their target price on shares of SLB from $46.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, SLB presently has an average rating of “Moderate Buy” and a consensus price target of $51.69.

SLB Company Profile

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.