Impala Asset Management LLC Raises Stock Position in SLB Limited $SLB

Impala Asset Management LLC lifted its position in shares of SLB Limited (NYSE:SLB) by 260.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,042 shares of the oil and gas company’s stock after buying an additional 65,042 shares during the quarter. SLB makes up 1.8% of Impala Asset Management LLC’s holdings, making the stock its 14th largest holding. Impala Asset Management LLC’s holdings in SLB were worth $3,043,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SLB. Twin Peaks Wealth Advisors LLC bought a new stake in shares of SLB in the 2nd quarter valued at about $25,000. Atticus Wealth Management LLC purchased a new stake in SLB during the second quarter worth $29,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in SLB by 55.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 350 shares in the last quarter. NewSquare Capital LLC increased its holdings in shares of SLB by 51.4% in the 2nd quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 341 shares during the period. Finally, Crews Bank & Trust increased its holdings in shares of SLB by 993.4% in the 2nd quarter. Crews Bank & Trust now owns 1,651 shares of the oil and gas company’s stock valued at $56,000 after acquiring an additional 1,500 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SLB. Melius Research assumed coverage on shares of SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target on the stock. Zacks Research upgraded SLB from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. TD Cowen lifted their price target on shares of SLB from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday. Rothschild & Co Redburn started coverage on shares of SLB in a research report on Monday, November 3rd. They issued a “buy” rating and a $48.00 target price for the company. Finally, Citigroup lifted their target price on shares of SLB from $47.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.32.

Insider Transactions at SLB

In other SLB news, Director Peter John Coleman sold 5,500 shares of the stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $35.82, for a total value of $197,010.00. Following the completion of the transaction, the director owned 18,671 shares in the company, valued at approximately $668,795.22. This represents a 22.75% 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, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total value of $2,261,400.00. Following the completion of the sale, the executive vice president directly owned 159,371 shares of the company’s stock, valued at approximately $6,006,692.99. This trade represents a 27.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 103,947 shares of company stock valued at $3,871,337. Corporate insiders own 0.22% of the company’s stock.

SLB Price Performance

Shares of SLB opened at $39.44 on Friday. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $44.66. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. The firm has a 50-day simple moving average of $35.87 and a 200-day simple moving average of $35.13. The company has a market capitalization of $58.92 billion, a price-to-earnings ratio of 15.23 and a beta of 0.73.

SLB (NYSE:SLB) last announced its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. SLB’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 EPS. On average, equities research analysts anticipate that SLB Limited will post 3.38 earnings per share for the current year.

SLB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a yield of 2.9%. SLB’s payout ratio is presently 44.02%.

About SLB

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.