SLB Limited $SLB Shares Bought by Jones Financial Companies Lllp

Jones Financial Companies Lllp raised its stake in SLB Limited (NYSE:SLB) by 20.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,641 shares of the oil and gas company’s stock after buying an additional 14,277 shares during the period. Jones Financial Companies Lllp’s holdings in SLB were worth $2,970,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SLB. Vanguard Group Inc. increased its position 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 valued at $5,080,734,000 after buying an additional 18,672,021 shares in the last quarter. Norges Bank purchased a new position in SLB during the 2nd quarter valued at about $618,697,000. Franklin Resources Inc. raised its position in SLB by 30.4% during the second quarter. Franklin Resources Inc. now owns 20,233,749 shares of the oil and gas company’s stock worth $683,901,000 after acquiring an additional 4,719,852 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of SLB by 80.7% in the second quarter. Lazard Asset Management LLC now owns 6,788,978 shares of the oil and gas company’s stock valued at $229,466,000 after purchasing an additional 3,031,906 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of SLB by 346.3% in the third quarter. Assenagon Asset Management S.A. now owns 3,876,526 shares of the oil and gas company’s stock valued at $133,236,000 after purchasing an additional 3,007,911 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Stock Up 2.5%

Shares of SLB opened at $50.74 on Friday. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $51.67. The company’s fifty day moving average is $42.88 and its two-hundred day moving average is $37.71. The firm has a market cap of $75.87 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 3.45 and a beta of 0.73. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36.

SLB (NYSE:SLB) last released its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The business had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.54 billion. During the same period in the prior year, the firm posted $0.92 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. Analysts forecast that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be issued a $0.295 dividend. This is a positive change from SLB’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, February 11th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. SLB’s dividend payout ratio (DPR) is 48.10%.

Insiders Place Their Bets

In related news, Director Peter John Coleman sold 5,500 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total transaction of $197,010.00. Following the completion of the sale, the director owned 18,671 shares of the company’s stock, valued at approximately $668,795.22. This represents a 22.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 61,017 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $3,032,544.90. Following the completion of the transaction, the chief financial officer owned 155,548 shares in the company, valued at $7,730,735.60. The trade was a 28.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 260,849 shares of company stock worth $11,668,003. 0.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SLB shares. Freedom Capital downgraded SLB from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. Evercore set a $54.00 price target on SLB and gave the stock an “outperform” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. upped their price objective on SLB from $43.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. TD Cowen lifted their price objective on SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, BMO Capital Markets upped their target price on shares of SLB from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and an average target price of $52.38.

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.