Y Intercept Hong Kong Ltd Acquires New Stake in SLB Limited $SLB

Y Intercept Hong Kong Ltd acquired a new stake in shares of SLB Limited (NYSE:SLB) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 163,033 shares of the oil and gas company’s stock, valued at approximately $5,511,000.

Other hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new position in shares of SLB during the first quarter valued at approximately $169,232,000. Alan B Lancz & Associates Inc. acquired a new position in shares of SLB during the first quarter valued at approximately $308,000. Shell Asset Management Co. increased its stake in shares of SLB by 48.1% during the second quarter. Shell Asset Management Co. now owns 62,737 shares of the oil and gas company’s stock valued at $2,121,000 after acquiring an additional 20,387 shares during the period. Godsey & Gibb Inc. grew its position in SLB by 9.6% in the second quarter. Godsey & Gibb Inc. now owns 493,092 shares of the oil and gas company’s stock worth $16,667,000 after buying an additional 43,135 shares during the last quarter. Finally, Stratos Investment Management LLC grew its position in SLB by 236.0% in the first quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company’s stock worth $6,141,000 after buying an additional 103,182 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Zacks Research upgraded shares of SLB from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Melius assumed coverage on shares of SLB in a research report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target on the stock. Citigroup lifted their price target on shares of SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Stifel Nicolaus decreased their price target on shares of SLB from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company lowered shares of SLB from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 20th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, SLB has an average rating of “Moderate Buy” and an average price target of $51.69.

Insider Activity

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 transaction of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.22% of the stock is owned by company insiders.

SLB Trading Up 0.9%

SLB stock opened at $36.15 on Tuesday. The company has a 50 day moving average price of $34.72 and a 200 day moving average price of $34.54. SLB Limited has a 52 week low of $31.11 and a 52 week high of $44.97. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. The firm has a market capitalization of $54.01 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 9.92 and a beta of 0.97.

SLB (NYSE:SLB) last posted its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. SLB had a net margin of 10.34% and a return on equity of 18.97%. The firm had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.99 billion. During the same quarter last year, the business posted $0.89 EPS. The company’s revenue was down 2.5% on a year-over-year basis. Research analysts forecast that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

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

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.