Cornercap Investment Counsel Inc. Has $1.43 Million Holdings in SLB Limited $SLB

Cornercap Investment Counsel Inc. raised its position in SLB Limited (NYSE:SLB) by 10.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 42,254 shares of the oil and gas company’s stock after acquiring an additional 4,035 shares during the period. Cornercap Investment Counsel Inc.’s holdings in SLB were worth $1,428,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in SLB by 478.8% in the first 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 acquiring an additional 39,474,501 shares during the period. Boston Partners grew its stake in SLB by 27.7% in the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock valued at $824,160,000 after acquiring an additional 4,300,222 shares during the period. Northern Trust Corp grew its stake in SLB by 4.4% in the first quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock valued at $602,860,000 after acquiring an additional 604,832 shares during the period. Dimensional Fund Advisors LP grew its stake in SLB by 22.8% in the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company’s stock valued at $375,738,000 after acquiring an additional 1,667,203 shares during the period. Finally, Invesco Ltd. grew its stake in SLB by 3.8% in the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company’s stock valued at $320,154,000 after acquiring an additional 281,937 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Stock Performance

Shares of SLB opened at $36.54 on Thursday. The firm has a market cap of $54.59 billion, a PE ratio of 14.11, a PEG ratio of 10.19 and a beta of 0.97. The stock’s fifty day moving average price is $34.95 and its two-hundred day moving average price is $34.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. SLB Limited has a 1 year low of $31.11 and a 1 year high of $44.97.

SLB (NYSE:SLB) last issued 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 analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 earnings per share. On average, equities research analysts forecast that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

The company 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 $0.285 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.1%. SLB’s payout ratio is presently 44.02%.

Insider Activity

In other SLB 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 value of $1,433,350.16. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Piper Sandler set a $42.00 target price on SLB and gave the company an “overweight” rating in a research report on Monday, October 20th. Redburn Partners set a $48.00 target price on SLB in a research report on Monday. Rothschild & Co Redburn assumed coverage on SLB in a research report on Monday. They set a “buy” rating and a $48.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus cut their target price on SLB from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Three research 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 company. According to data from MarketBeat.com, the company currently has a consensus 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.