RNC Capital Management LLC Has $1.93 Million Position in SLB Limited $SLB

RNC Capital Management LLC raised its stake in shares of SLB Limited (NYSE:SLB) by 1.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 57,035 shares of the oil and gas company’s stock after purchasing an additional 659 shares during the period. RNC Capital Management LLC’s holdings in SLB were worth $1,928,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of SLB by 478.8% during the 1st 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 period. Boston Partners boosted its stake in shares of 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 buying an additional 4,300,222 shares during the period. Northern Trust Corp boosted its stake in shares of SLB by 4.4% during the 1st quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock valued at $602,860,000 after buying an additional 604,832 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of SLB by 22.8% during the 1st 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 buying an additional 1,667,203 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of SLB by 3.8% in the 1st 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 last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SLB shares. 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 objective for the company. Susquehanna reduced their price objective on shares of SLB from $44.00 to $42.00 and set a “positive” rating for the company in a research note on Monday, July 21st. Jefferies Financial Group reduced their price objective on shares of SLB from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, June 26th. Melius Research started coverage on shares of SLB in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective for the company. Finally, Zacks Research raised shares of SLB from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.69.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 39,727 shares of the company’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 sale, the insider owned 202,201 shares of the company’s stock, valued at $7,295,412.08. The trade was 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. 0.22% of the stock is currently owned by insiders.

SLB Stock Up 4.0%

Shares of SLB opened at $34.88 on Thursday. The company has a 50-day simple moving average of $34.55 and a 200-day simple moving average of $34.49. The firm has a market capitalization of $52.09 billion, a P/E ratio of 13.47, a P/E/G ratio of 9.34 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. SLB Limited has a 52 week low of $31.11 and a 52 week high of $44.97.

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

SLB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.3%. SLB’s payout ratio is presently 44.02%.

About SLB

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.