Russell Investments Group Ltd. Purchases 45,481 Shares of SLB Limited $SLB

Russell Investments Group Ltd. lifted its position in SLB Limited (NYSE:SLB) by 2.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,918,976 shares of the oil and gas company’s stock after purchasing an additional 45,481 shares during the quarter. Russell Investments Group Ltd. owned 0.14% of SLB worth $64,879,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SLB. Atticus Wealth Management LLC purchased a new stake in SLB in the second quarter worth approximately $29,000. Atlas Capital Advisors Inc. bought a new stake in shares of SLB in the 1st quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of SLB by 55.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 350 shares in the last quarter. NewSquare Capital LLC boosted its stake in shares of SLB by 51.4% in the 2nd quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 341 shares in the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in shares of SLB during the 1st quarter valued at $40,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Dianne B. Ralston sold 39,727 shares of the firm’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 completion of the sale, the insider directly owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the sale, the executive vice president directly owned 159,371 shares in the company, valued at $6,006,692.99. The trade was a 27.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 138,174 shares of company stock worth $5,107,677. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SLB has been the subject of several recent research reports. Citigroup boosted their price target on shares of SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. JPMorgan Chase & Co. lowered their target price on SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Melius Research assumed coverage on SLB in a report on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price for the company. Piper Sandler set a $42.00 price target on SLB and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Redburn Partners set a $48.00 price objective on SLB in a research report on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.28.

SLB Trading Down 0.6%

SLB opened at $35.69 on Friday. SLB Limited has a one year low of $31.11 and a one year high of $44.66. 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 $35.10 and a two-hundred day simple moving average of $34.88. The firm has a market capitalization of $53.31 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 10.19 and a beta of 0.97.

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

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be issued a $0.285 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a yield of 3.2%. SLB’s dividend payout ratio is 44.02%.

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.