Moors & Cabot Inc. Increases Stake in SLB Limited $SLB

Moors & Cabot Inc. grew its stake in SLB Limited (NYSE:SLB) by 4.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 71,384 shares of the oil and gas company’s stock after buying an additional 2,811 shares during the quarter. Moors & Cabot Inc.’s holdings in SLB were worth $2,413,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SLB. Charles Schwab Investment Management Inc. boosted its stake in shares of SLB by 478.8% in 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 lifted its stake in SLB by 27.7% during the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock worth $824,160,000 after purchasing an additional 4,300,222 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in SLB by 211.1% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company’s stock valued at $250,507,000 after purchasing an additional 4,066,500 shares in the last quarter. Nuveen LLC acquired a new position in SLB in the first quarter valued at approximately $169,232,000. Finally, Banque Transatlantique SA boosted its holdings in SLB by 21,737.8% in the first quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company’s stock valued at $71,821,000 after purchasing an additional 1,850,760 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the transaction, the insider owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.22% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on SLB. Rothschild & Co Redburn began coverage on SLB in a report on Monday. They issued a “buy” rating and a $48.00 price target for the company. Piper Sandler set a $42.00 price target on SLB and gave the company an “overweight” rating in a report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SLB in a report on Wednesday, October 8th. Stifel Nicolaus lowered their price target on SLB from $54.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Finally, Melius Research started coverage on SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.28.

SLB Price Performance

SLB stock opened at $36.54 on Thursday. SLB Limited has a 12 month low of $31.11 and a 12 month high of $44.97. 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 business has a 50 day simple moving average of $34.95 and a 200-day simple moving average of $34.66. The stock has a market capitalization of $54.59 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 10.19 and a beta of 0.97.

SLB (NYSE:SLB) last released its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 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 during the quarter, compared to analysts’ expectations of $8.99 billion. During the same quarter in the prior year, the business earned $0.89 earnings per share. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. Equities analysts predict that SLB Limited will post 3.38 earnings per share for the current year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders 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 dividend yield of 3.1%. The ex-dividend date is Wednesday, December 3rd. SLB’s dividend payout ratio is 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.