Renasant Bank Acquires Shares of 24,418 SLB Limited $SLB

Renasant Bank bought a new position in SLB Limited (NYSE:SLB) during the second quarter, HoldingsChannel.com reports. The fund bought 24,418 shares of the oil and gas company’s stock, valued at approximately $825,000.

A number of other large investors have also recently made changes to their positions in SLB. Charles Schwab Investment Management Inc. increased its stake in 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 worth $1,994,674,000 after buying an additional 39,474,501 shares during the period. Boston Partners grew its stake in SLB by 27.7% in the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock worth $824,160,000 after acquiring an additional 4,300,222 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of SLB by 211.1% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company’s stock worth $250,507,000 after acquiring an additional 4,066,500 shares during the period. Nuveen LLC bought a new stake in shares of SLB during the first quarter valued at approximately $169,232,000. Finally, Banque Transatlantique SA boosted its holdings in shares of 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 during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

SLB Stock Up 1.8%

Shares of SLB stock opened at $37.58 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. The company has a market cap of $56.13 billion, a P/E ratio of 14.51, a PEG ratio of 10.19 and a beta of 0.97. The firm’s 50 day moving average price is $34.98 and its 200-day moving average price is $34.72. SLB Limited has a 52-week low of $31.11 and a 52-week high of $44.97.

SLB (NYSE:SLB) last announced its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share 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 period last year, the firm earned $0.89 earnings per share. SLB’s revenue was down 2.5% compared to the same quarter last year. On average, sell-side analysts predict that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Wednesday, December 3rd. SLB’s dividend payout ratio is currently 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 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 directly owned 202,201 shares in the company, valued at $7,295,412.08. The trade was a 16.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on SLB shares. UBS Group restated a “buy” rating and set a $44.00 price objective on shares of SLB in a report on Tuesday, October 21st. Redburn Partners set a $48.00 price objective on SLB in a report on Monday, November 3rd. Melius Research initiated 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. Melius initiated 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.28.

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.