State of New Jersey Common Pension Fund D Increases Position in SLB Limited $SLB

State of New Jersey Common Pension Fund D increased its stake in SLB Limited (NYSE:SLB) by 7.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 577,133 shares of the oil and gas company’s stock after purchasing an additional 42,123 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in SLB were worth $19,507,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. First Command Advisory Services Inc. boosted its stake in shares of SLB by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 477 shares during the last quarter. Atticus Wealth Management LLC acquired a new stake in shares of SLB during the 2nd quarter worth about $29,000. Atlas Capital Advisors Inc. acquired a new stake in shares of SLB during the 1st quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of SLB by 55.3% during 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 during the last quarter. Finally, Park Square Financial Group LLC acquired a new stake in shares of SLB during the 1st quarter worth about $38,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SLB

In related news, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction dated 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 in the company, valued at $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

SLB Stock Performance

Shares of SLB opened at $35.84 on Friday. SLB Limited has a 1 year low of $31.11 and a 1 year high of $44.97. The company has a market cap of $53.55 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 9.91 and a beta of 0.97. 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 firm has a fifty day moving average of $34.66 and a 200-day moving average of $34.55.

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 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 company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.99 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that SLB Limited will post 3.38 earnings per share for the current year.

SLB Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Wednesday, December 3rd. SLB’s payout ratio is currently 44.02%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. Melius Research started coverage on shares of SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target on the stock. Melius started coverage on shares of SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target on the stock. UBS Group restated a “buy” rating and issued a $44.00 price target on shares of SLB in a report on Tuesday. Finally, Stifel Nicolaus cut their price target on shares of SLB from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock 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.