Intech Investment Management LLC Purchases 6,048 Shares of SLB Limited $SLB

Intech Investment Management LLC grew its holdings in SLB Limited (NYSE:SLB) by 7.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 89,952 shares of the oil and gas company’s stock after buying an additional 6,048 shares during the quarter. Intech Investment Management LLC’s holdings in SLB were worth $3,040,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SLB. Charles Schwab Investment Management Inc. lifted its position in shares of 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 buying an additional 39,474,501 shares during the last quarter. Boston Partners grew its stake in SLB by 27.7% during the 1st 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 last quarter. Northern Trust Corp increased its holdings in shares of SLB by 4.4% in 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 raised its stake in shares of SLB by 22.8% in the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company’s stock worth $375,738,000 after purchasing an additional 1,667,203 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of SLB by 3.8% during the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company’s stock worth $320,154,000 after purchasing an additional 281,937 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SLB

In other SLB news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total value 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 trade represents a 27.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Stephane Biguet sold 38,447 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $36.75, for a total value of $1,412,927.25. Following the transaction, the chief financial officer owned 175,690 shares in the company, valued at approximately $6,456,607.50. This represents a 17.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 138,174 shares of company stock worth $5,107,677. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the topic of several research reports. Citigroup increased their price target on shares of SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Rothschild & Co Redburn initiated coverage on shares of SLB in a report on Monday, November 3rd. They issued a “buy” rating and a $48.00 price objective on the stock. Barclays raised their target price on shares of SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Piper Sandler set a $42.00 target price on shares of SLB and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, Redburn Partners set a $48.00 price target on SLB in a research report on Monday, November 3rd. Two equities 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.28.

SLB Stock Down 0.4%

Shares of SLB opened at $35.90 on Thursday. The stock has a 50 day moving average price of $35.03 and a 200 day moving average price of $34.81. SLB Limited has a one year low of $31.11 and a one year high of $44.97. 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 stock has a market capitalization of $53.64 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 10.19 and a beta of 0.97.

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

SLB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be paid 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 currently 44.02%.

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.