Ethic Inc. Has $2.78 Million Position in SLB Limited $SLB

Ethic Inc. boosted its position in shares of SLB Limited (NYSE:SLB) by 47.6% in the second quarter, Holdings Channel reports. The firm owned 81,760 shares of the oil and gas company’s stock after purchasing an additional 26,375 shares during the period. Ethic Inc.’s holdings in SLB were worth $2,781,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in SLB by 478.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock valued at $1,994,674,000 after purchasing an additional 39,474,501 shares during the period. Boston Partners grew its holdings in SLB by 27.7% during the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock valued at $824,160,000 after purchasing an additional 4,300,222 shares during the period. Northern Trust Corp grew its holdings in SLB by 4.4% during the first quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock valued at $602,860,000 after purchasing an additional 604,832 shares during the period. Dimensional Fund Advisors LP grew its holdings in SLB by 22.8% during the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company’s stock valued at $375,738,000 after purchasing an additional 1,667,203 shares during the period. Finally, Invesco Ltd. grew its holdings in SLB by 3.8% during the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company’s stock valued at $320,154,000 after purchasing an additional 281,937 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Stock Performance

Shares of SLB opened at $35.84 on Friday. SLB Limited has a 12 month low of $31.11 and a 12 month high of $44.97. The firm has a fifty day simple moving average of $34.66 and a 200 day simple moving average of $34.53. The stock has a market capitalization of $53.54 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 9.96 and a beta of 0.97. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40.

SLB (NYSE:SLB) last announced 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. SLB had a net margin of 10.34% and a return on equity of 18.97%. The business had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.99 billion. During the same quarter in the prior year, the company posted $0.89 earnings per share. The firm’s revenue was down 2.5% on a year-over-year basis. Research analysts forecast that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Dividend Announcement

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 given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio is 44.02%.

Insider Transactions at SLB

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction on Friday, September 12th. The shares were 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 approximately $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays upped their price target on shares of SLB from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a report on Friday. Citigroup upped their price target on shares of SLB from $46.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday. Susquehanna reduced their price target on shares of SLB from $44.00 to $42.00 and set a “positive” rating for the company in a report on Monday, July 21st. Finally, Melius Research assumed coverage on shares of SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and a consensus target price 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.