Los Angeles Capital Management LLC Has $6.57 Million Stock Holdings in SLB Limited $SLB

Los Angeles Capital Management LLC lifted its stake in SLB Limited (NYSE:SLB) by 155.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 194,488 shares of the oil and gas company’s stock after purchasing an additional 118,451 shares during the period. Los Angeles Capital Management LLC’s holdings in SLB were worth $6,574,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Van Cleef Asset Management Inc boosted its holdings in SLB by 2.9% during the second quarter. Van Cleef Asset Management Inc now owns 98,758 shares of the oil and gas company’s stock worth $3,338,000 after buying an additional 2,786 shares during the last quarter. AE Wealth Management LLC boosted its stake in SLB by 73.6% during the 2nd quarter. AE Wealth Management LLC now owns 37,836 shares of the oil and gas company’s stock worth $1,279,000 after acquiring an additional 16,040 shares during the last quarter. Penserra Capital Management LLC grew its holdings in SLB by 69.4% during the second quarter. Penserra Capital Management LLC now owns 18,047 shares of the oil and gas company’s stock valued at $609,000 after purchasing an additional 7,394 shares during the period. Harvest Portfolios Group Inc. grew its holdings in SLB by 3.1% during the second quarter. Harvest Portfolios Group Inc. now owns 42,735 shares of the oil and gas company’s stock valued at $1,444,000 after purchasing an additional 1,290 shares during the period. Finally, Vestmark Advisory Solutions Inc. bought a new stake in SLB in the second quarter valued at approximately $935,000. Institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of several analyst reports. Rothschild Redb upgraded shares of SLB to a “strong-buy” rating in a report on Monday, November 3rd. Barclays raised their price objective on SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of SLB in a research note on Wednesday, October 8th. Rothschild & Co Redburn initiated coverage on SLB in a report on Monday, November 3rd. They issued a “buy” rating and a $48.00 price target for the company. Finally, Piper Sandler set a $42.00 price objective on SLB and gave the company an “overweight” rating in a report on Monday, October 20th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.28.

SLB Stock Up 0.8%

Shares of SLB stock opened at $36.65 on Monday. The firm has a market cap of $54.75 billion, a PE ratio of 14.15, a P/E/G ratio of 10.19 and a beta of 0.97. The business’s 50 day simple moving average is $34.95 and its 200 day simple moving average is $34.69. 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 released 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. SLB had a return on equity of 18.97% and a net margin of 10.34%.The firm had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.99 billion. During the same quarter in the prior year, the firm posted $0.89 EPS. The business’s revenue was down 2.5% on a year-over-year basis. On average, analysts predict that SLB Limited will post 3.38 earnings per share for the current fiscal 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 given 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 3.1%. SLB’s dividend payout ratio (DPR) is 44.02%.

Insider Transactions at SLB

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction on 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 directly owned 202,201 shares in the company, valued at approximately $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 accessible through this link. Insiders own 0.22% of the company’s stock.

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.