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

Ethic Inc. raised its position in SLB Limited (NYSE:SLB) by 47.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,760 shares of the oil and gas company’s stock after buying an additional 26,375 shares during the period. Ethic Inc.’s holdings in SLB were worth $2,781,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. boosted its position in SLB by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 477 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new position in SLB in the first quarter valued at about $33,000. Alpine Bank Wealth Management acquired a new position in SLB in the first quarter valued at about $34,000. Atticus Wealth Management LLC acquired a new position in SLB in the second quarter valued at about $29,000. Finally, Park Square Financial Group LLC acquired a new position in SLB in the first quarter valued at about $38,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on SLB. Wells Fargo & Company lowered shares of SLB from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 20th. Melius began coverage on shares of SLB in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price on the stock. Citigroup upped their target price on shares of SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a research report on Friday. Finally, Barclays upped their target price on shares of SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.69.

SLB Trading Down 0.5%

SLB opened at $35.84 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. The company has a market cap of $53.54 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 9.96 and a beta of 0.97. The firm has a 50 day simple moving average of $34.66 and a 200 day simple moving average of $34.53. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $44.97.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. SLB’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 earnings per share. On average, sell-side analysts anticipate that SLB Limited will post 3.38 earnings per share for the current year.

SLB Announces Dividend

The firm also recently declared 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 of this dividend is Wednesday, December 3rd. SLB’s payout ratio is 44.02%.

Insider Buying and Selling at SLB

In related news, insider Dianne B. Ralston sold 39,727 shares of the business’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 transaction of $1,433,350.16. Following the completion of the sale, the insider directly 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 filing with the SEC, which is available at this link. 0.22% of the stock is currently owned by company insiders.

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.