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

Clifford Swan Investment Counsel LLC boosted its stake in shares of SLB Limited (NYSE:SLB) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 544,104 shares of the oil and gas company’s stock after acquiring 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.

Several other institutional investors and hedge funds also recently made changes to their positions in SLB. RNC Capital Management LLC lifted its holdings in SLB by 1.2% during the 2nd quarter. RNC Capital Management LLC now owns 57,035 shares of the oil and gas company’s stock valued at $1,928,000 after purchasing an additional 659 shares during the last quarter. Forum Financial Management LP raised its stake in shares of 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 acquiring an additional 824 shares during the last quarter. Ethic Inc. boosted its holdings in shares of SLB by 47.6% in the 2nd quarter. Ethic Inc. now owns 81,760 shares of the oil and gas company’s stock worth $2,781,000 after acquiring an additional 26,375 shares in the last quarter. Adams Natural Resources Fund Inc. grew 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 acquiring an additional 327,933 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in SLB during the 2nd quarter valued at $72,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Transactions at SLB

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction that occurred on 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. This represents 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 accessible through the SEC website. Corporate insiders own 0.22% of the company’s stock.

SLB Price Performance

Shares of SLB stock opened at $34.88 on Thursday. The firm’s 50 day moving average price is $34.55 and its two-hundred day moving average price is $34.49. The stock has a market cap of $52.09 billion, a PE ratio of 13.47, a PEG ratio of 9.34 and a beta of 0.97. SLB Limited has a 52-week low of $31.11 and a 52-week 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.

SLB (NYSE:SLB) last posted its quarterly earnings results 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 return on equity of 18.97% and a net margin of 10.34%.The business had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. During the same period last year, the company earned $0.89 EPS. The firm’s revenue was down 2.5% on a year-over-year basis. As a group, analysts forecast that SLB Limited will post 3.38 EPS for the current year.

SLB Announces Dividend

The company 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. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Piper Sandler set a $42.00 price objective on SLB and gave the stock an “overweight” rating in a research note on Monday. Atb Cap Markets raised shares of SLB from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. UBS Group reaffirmed a “buy” rating and issued a $44.00 target price on shares of SLB in a research note on Tuesday. Wells Fargo & Company lowered shares of SLB from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 20th. Finally, Citigroup upped their price objective on SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, SLB has a consensus rating of “Moderate Buy” and an average target price of $51.69.

SLB 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.