SLB Limited $SLB Shares Purchased by Asset Management One Co. Ltd.

Key Points

• Asset Management One increased its SLB stake by 3.1% in the third quarter, adding 19,966 shares to hold 654,315 shares valued at approximately $31.9 million. Institutional investors and hedge funds collectively own 81.99% of SLB.
• Analysts maintain a generally positive outlook, with 24 Buy, three Hold, and one Sell rating. SLB has a consensus rating of “Moderate Buy” and an average price target of $61.52.
• SLB beat quarterly expectations with earnings of $0.64 per share and revenue of $9.45 billion, while revenue rose 5.8% year over year. The company also declared a quarterly dividend of $0.295 per share, representing a 2.2% annualized yield.

Asset Management One Co. Ltd. increased its stake in SLB Limited (NYSE:SLB - Free Report) by 3.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 654,315 shares of the oil and gas company's stock after purchasing an additional 19,966 shares during the period. Asset Management One Co. Ltd.'s holdings in SLB were worth $31,878,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Abel Hall LLC lifted its stake in shares of SLB by 2.7% during the first quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company's stock worth $387,000 after buying an additional 198 shares during the period. E Fund Management Co. Ltd. increased its position in shares of SLB by 3.6% in the 2nd quarter. E Fund Management Co. Ltd. now owns 5,712 shares of the oil and gas company's stock valued at $266,000 after acquiring an additional 199 shares during the period. Cypress Capital Group increased its position in shares of SLB by 1.9% in the 1st quarter. Cypress Capital Group now owns 12,308 shares of the oil and gas company's stock valued at $633,000 after acquiring an additional 234 shares during the period. Palisade Capital Management LP increased its position in shares of SLB by 4.1% in the 2nd quarter. Palisade Capital Management LP now owns 5,939 shares of the oil and gas company's stock valued at $276,000 after acquiring an additional 234 shares during the period. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of SLB by 7.7% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 3,329 shares of the oil and gas company's stock valued at $155,000 after acquiring an additional 237 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on SLB shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of SLB in a research report on Monday, August 3rd. Citigroup dropped their price target on SLB from $63.00 to $62.00 and set a "buy" rating on the stock in a research note on Monday, October 19th. Freedom Broker raised SLB from a "sell" rating to a "hold" rating and set a $48.00 price objective on the stock in a report on Monday. Rothschild & Co Redburn raised their price objective on SLB from $66.00 to $68.00 and gave the stock a "buy" rating in a research note on Friday, September 25th. Finally, Capital One Financial decreased their target price on SLB from $64.00 to $63.00 and set an "overweight" rating for the company in a report on Tuesday, August 18th. Twenty-four investment 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $61.52.

SLB Price Performance

Shares of SLB opened at $53.71 on Thursday. The business's 50-day moving average is $52.49 and its two-hundred day moving average is $51.28. The company has a market capitalization of $79.71 billion, a P/E ratio of 26.07, a P/E/G ratio of 2.92 and a beta of 0.83. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.39. SLB Limited has a fifty-two week low of $34.65 and a fifty-two week 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. The business had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.27 billion. SLB had a return on equity of 13.77% and a net margin of 8.40%. The company's revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. Research analysts predict that SLB Limited will post 2.47 earnings per share for the current year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 2nd will be given a dividend of $0.2950 per share. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date 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.

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