SLB Limited $SLB Shares Newly Acquired by Mraz Amerine & Associates Inc.

Key Points

• Mraz Amerine & Associates acquired 129,004 SLB shares in the third quarter, valued at about $6.3 million and representing 1% of the fund’s portfolio. Institutional investors collectively own about 82% of SLB.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $61.52; 24 analysts rate the stock Buy, three Hold, and one Sell.
• SLB beat quarterly earnings and revenue estimates, reporting $0.64 per share and $9.45 billion in revenue. The company also announced a quarterly dividend of $0.295 per share, or $1.18 annualized.

Mraz Amerine & Associates Inc. acquired a new stake in SLB Limited (NYSE:SLB - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 129,004 shares of the oil and gas company's stock, valued at approximately $6,285,000. SLB comprises 1.0% of Mraz Amerine & Associates Inc.'s holdings, making the stock its 18th largest position.

Several other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in SLB in the 2nd quarter valued at $1,339,567,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of SLB by 6,358.2% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,134,731 shares of the oil and gas company's stock worth $471,164,000 after purchasing an additional 9,977,804 shares during the last quarter. Cardano Risk Management B.V. purchased a new stake in shares of SLB in the second quarter valued at $185,474,000. Canoe Financial LP grew its position in shares of SLB by 82.3% in the second quarter. Canoe Financial LP now owns 7,730,966 shares of the oil and gas company's stock valued at $358,936,000 after purchasing an additional 3,489,344 shares during the period. Finally, Danske Bank A S increased its stake in SLB by 2,928.3% in the second quarter. Danske Bank A S now owns 2,825,743 shares of the oil and gas company's stock valued at $131,369,000 after purchasing an additional 2,732,433 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Insider Activity

In related news, insider Dianne B. Ralston sold 20,986 shares of the business's stock in a transaction dated 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 approximately $10,984,689.21. The trade was a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Howard Guild sold 10,047 shares of the stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $53.65, for a total value of $539,021.55. Following the completion of the transaction, the chief accounting officer directly owned 12,845 shares of the company's stock, valued at $689,134.25. This represents a 43.89% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Raymond James Financial reduced their target price on SLB from $62.00 to $61.00 and set an "outperform" rating on the stock in a research report on Friday, July 10th. Capital One Financial dropped their price objective on shares of SLB from $64.00 to $63.00 and set an "overweight" rating for the company in a research note on Tuesday, August 18th. UBS Group cut their price objective on shares of SLB from $75.00 to $70.00 and set a "buy" rating on the stock in a report on Monday, October 26th. Freedom Broker raised shares of SLB from a "sell" rating to a "hold" rating and set a $48.00 target price on the stock in a research report on Monday, October 26th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $66.00 target price (up from $65.00) on shares of SLB in a report on Sunday, July 26th. Twenty-four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $61.52.

SLB Price Performance

SLB stock opened at $52.11 on Wednesday. The company has a market cap of $76.91 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 2.90 and a beta of 0.80. The company has a current ratio of 1.39, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average price of $52.43 and a two-hundred day moving average price of $51.43. SLB Limited has a 12-month low of $34.65 and a 12-month high of $60.46.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, October 23rd. The oil and gas company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. SLB had a return on equity of 13.77% and a net margin of 8.40%. The company had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same period last year, the business posted $0.69 EPS. The company's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, research analysts predict that SLB Limited will post 2.46 EPS for the current year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Wednesday, December 2nd will be given a $0.2950 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, December 2nd. SLB's dividend payout ratio is presently 57.28%.

About SLB

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.

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