Americana Partners LLC Acquires 87,990 Shares of SLB Limited $SLB

Americana Partners LLC increased its stake in SLB Limited (NYSE:SLB) by 72.0% during the third quarter, according to its most recent filing with the SEC. The fund owned 210,179 shares of the oil and gas company’s stock after buying an additional 87,990 shares during the quarter. Americana Partners LLC’s holdings in SLB were worth $10,240,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SLB. State Street Corp increased its position in SLB by 0.8% in the second quarter. State Street Corp now owns 91,222,641 shares of the oil and gas company’s stock worth $4,267,269,000 after buying an additional 722,060 shares during the last quarter. First Eagle Investment Management LLC increased its stake in shares of SLB by 1.9% in the second quarter. First Eagle Investment Management LLC now owns 28,913,733 shares of the oil and gas company’s stock worth $1,344,199,000 after purchasing an additional 537,566 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of SLB in the second quarter valued at approximately $1,339,567,000. Amundi raised its position in shares of SLB by 15.8% in the second quarter. Amundi now owns 19,815,245 shares of the oil and gas company’s stock valued at $921,211,000 after purchasing an additional 2,698,766 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in SLB by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 15,901,998 shares of the oil and gas company’s stock valued at $817,246,000 after buying an additional 169,468 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Activity

In other SLB news, CAO Howard Guild sold 10,047 shares of SLB stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $53.65, for a total transaction of $539,021.55. Following the sale, the chief accounting officer directly owned 12,845 shares of the company’s stock, valued at approximately $689,134.25. The trade was a 43.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dianne Ralston sold 20,986 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $53.57, for a total value of $1,124,220.02. Following the transaction, the insider owned 205,053 shares in the company, valued at $10,984,689.21. This trade represents a 9.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

SLB has been the subject of a number of analyst reports. Rothschild & Co Redburn raised their price target on SLB from $66.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, September 25th. Barclays decreased their price objective on SLB from $66.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday. Evercore upped their target price on SLB from $63.00 to $66.00 in a research note on Thursday, October 8th. Sanford C. Bernstein reiterated an “outperform” rating on shares of SLB in a research report on Tuesday, September 1st. Finally, The Goldman Sachs Group cut their price target on shares of SLB from $63.00 to $62.00 in a research report on Tuesday, July 7th. Twenty-four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, SLB presently has a consensus rating of “Moderate Buy” and an average price target of $61.52.

SLB Price Performance

Shares of SLB stock opened at $53.78 on Friday. The company’s fifty day simple moving average is $52.50 and its two-hundred day simple moving average is $51.37. SLB Limited has a 12-month low of $34.65 and a 12-month high of $60.46. The firm has a market cap of $79.38 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 2.99 and a beta of 0.83. The company has a quick ratio of 1.02, a current ratio of 1.39 and a debt-to-equity ratio of 0.41.

SLB (NYSE:SLB) last posted its earnings results on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. SLB had a net margin of 8.40% and a return on equity of 13.77%. The company had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the business posted $0.69 earnings per share. SLB’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities analysts expect that SLB Limited will post 2.46 EPS for the current year.

SLB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Wednesday, December 2nd will be given a $0.2950 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, December 2nd. SLB’s dividend payout ratio (DPR) is currently 57.28%.

SLB Company Profile

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.