Allstate Corp Has $5.58 Million Stock Position in SLB Limited $SLB

Allstate Corp trimmed its holdings in SLB Limited (NYSE:SLB - Free Report) by 23.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 120,137 shares of the oil and gas company's stock after selling 37,176 shares during the period. Allstate Corp's holdings in SLB were worth $5,585,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OMERS ADMINISTRATION Corp increased its holdings in shares of SLB by 15.9% in the second quarter. OMERS ADMINISTRATION Corp now owns 128,062 shares of the oil and gas company's stock valued at $5,954,000 after purchasing an additional 17,526 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of SLB by 104.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,033,651 shares of the oil and gas company's stock worth $141,034,000 after purchasing an additional 1,552,104 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of SLB by 1.0% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 36,034 shares of the oil and gas company's stock worth $1,675,000 after purchasing an additional 354 shares during the period. Commerce Bank lifted its holdings in SLB by 1.9% during the 2nd quarter. Commerce Bank now owns 66,931 shares of the oil and gas company's stock worth $3,112,000 after purchasing an additional 1,232 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in SLB by 4.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 73,786 shares of the oil and gas company's stock worth $3,430,000 after purchasing an additional 3,148 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SLB shares. Weiss Ratings restated a "hold (c)" rating on shares of SLB in a research note on Monday, August 3rd. Evercore reaffirmed an "outperform" rating and set a $66.00 target price on shares of SLB in a report on Monday, July 27th. JPMorgan Chase & Co. increased their price target on SLB from $54.00 to $61.00 and gave the stock an "overweight" rating in a research report on Monday, April 27th. Royal Bank Of Canada reiterated an "outperform" rating and set a $61.00 target price on shares of SLB in a research report on Tuesday, June 16th. Finally, TD Cowen boosted their price target on SLB from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $61.35.

SLB Price Performance

SLB stock opened at $53.90 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The stock has a market capitalization of $80.00 billion, a P/E ratio of 26.04, a price-to-earnings-growth ratio of 3.55 and a beta of 0.73. The stock has a fifty day moving average of $49.30 and a 200-day moving average of $51.26.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. SLB had a return on equity of 14.05% and a net margin of 8.53%.The business had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same period last year, the firm posted $0.74 earnings per share. SLB's revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts expect that SLB Limited will post 2.5 earnings per share for the current fiscal year.

SLB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB's payout ratio is presently 57.00%.

About SLB

SLB NYSE: SLB, historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB's product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.

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