Paradice Investment Management LLC Invests $10.94 Million in SLB Limited $SLB

Paradice Investment Management LLC acquired a new position in shares of SLB Limited (NYSE:SLB) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 318,259 shares of the oil and gas company’s stock, valued at approximately $10,939,000. SLB makes up about 2.5% of Paradice Investment Management LLC’s investment portfolio, making the stock its 18th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of SLB by 14.2% in the second quarter. Vanguard Group Inc. now owns 150,317,566 shares of the oil and gas company’s stock worth $5,080,734,000 after acquiring an additional 18,672,021 shares during the last quarter. Franklin Resources Inc. increased its position in SLB by 30.4% during the 2nd quarter. Franklin Resources Inc. now owns 20,233,749 shares of the oil and gas company’s stock worth $683,901,000 after purchasing an additional 4,719,852 shares in the last quarter. Norges Bank bought a new position in SLB in the 2nd quarter valued at approximately $618,697,000. Amundi boosted its position in SLB by 29.9% in the second quarter. Amundi now owns 11,415,740 shares of the oil and gas company’s stock valued at $409,939,000 after buying an additional 2,624,679 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of SLB by 1.2% during the second quarter. Legal & General Group Plc now owns 9,681,754 shares of the oil and gas company’s stock worth $327,243,000 after buying an additional 114,190 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on SLB. TD Cowen increased their price target on SLB from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Rothschild & Co Redburn initiated coverage on SLB in a report on Monday, November 3rd. They issued a “buy” rating and a $48.00 target price for the company. Piper Sandler increased their target price on SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. JPMorgan Chase & Co. reduced their price target on SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Finally, Barclays dropped their price objective on shares of SLB from $48.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.42.

Insider Buying and Selling at SLB

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total value of $2,261,400.00. Following the transaction, the executive vice president directly owned 159,371 shares of the company’s stock, valued at $6,006,692.99. The trade was a 27.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephane Biguet sold 38,447 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $36.75, for a total value of $1,412,927.25. Following the sale, the chief financial officer directly owned 175,690 shares of the company’s stock, valued at $6,456,607.50. This represents a 17.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 103,947 shares of company stock valued at $3,871,337. 0.22% of the stock is currently owned by insiders.

SLB Price Performance

SLB stock opened at $37.88 on Tuesday. The stock’s 50 day moving average is $36.98 and its 200 day moving average is $35.45. SLB Limited has a one year low of $31.11 and a one year high of $44.66. The firm has a market cap of $56.59 billion, a P/E ratio of 14.63 and a beta of 0.73. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01.

SLB (NYSE:SLB) last released its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The business 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%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. As a group, research analysts expect that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be issued a $0.285 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a yield of 3.0%. SLB’s payout ratio is presently 44.02%.

SLB Company Profile

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.