Legato Capital Management LLC Makes New Investment in SLB Limited $SLB

Legato Capital Management LLC bought a new position in shares of SLB Limited (NYSE:SLB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 21,145 shares of the oil and gas company's stock, valued at approximately $812,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in SLB by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company's stock worth $7,156,177,000 after acquiring an additional 1,080,999 shares during the last quarter. State Street Corp increased its stake in SLB by 7.0% in the third quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company's stock valued at $2,898,037,000 after acquiring an additional 5,466,786 shares during the period. First Eagle Investment Management LLC increased its stake in SLB by 0.6% in the fourth quarter. First Eagle Investment Management LLC now owns 27,718,458 shares of the oil and gas company's stock valued at $1,063,834,000 after acquiring an additional 174,564 shares during the period. Dimensional Fund Advisors LP increased its stake in SLB by 25.2% in the third quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company's stock valued at $528,217,000 after acquiring an additional 3,094,764 shares during the period. Finally, Northern Trust Corp grew its stake in SLB by 10.7% during the third quarter. Northern Trust Corp now owns 15,359,990 shares of the oil and gas company's stock worth $527,923,000 after buying an additional 1,490,859 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Barclays upped their price objective on shares of SLB from $49.00 to $51.00 and gave the stock an "overweight" rating in a research note on Monday, April 27th. JPMorgan Chase & Co. upped their price objective on shares of SLB from $54.00 to $61.00 and gave the stock an "overweight" rating in a research note on Monday, April 27th. Wall Street Zen cut shares of SLB from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. BMO Capital Markets increased their price target on shares of SLB from $55.00 to $63.00 and gave the company an "outperform" rating in a research note on Monday, April 27th. Finally, Citigroup increased their price target on shares of SLB from $59.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $59.74.

SLB Trading Down 0.0%

SLB opened at $57.27 on Tuesday. The firm's fifty day moving average is $52.66 and its two-hundred day moving average is $46.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. The firm has a market cap of $85.63 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 2.32 and a beta of 0.72. SLB Limited has a twelve month low of $31.64 and a twelve month high of $57.88.

SLB (NYSE:SLB - Get Free Report) last posted its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. The company had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.72 earnings per share. Equities research analysts anticipate that SLB Limited will post 2.61 EPS for the current year.

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.1%. SLB's dividend payout ratio is currently 51.53%.

Insider Buying and Selling at SLB

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the firm's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the transaction, the director owned 16,953 shares of the company's stock, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the firm's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the transaction, the executive vice president directly owned 47,421 shares of the company's stock, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by corporate insiders.

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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