Global Retirement Partners LLC Acquires Shares of 7,255 SLB Limited $SLB

Global Retirement Partners LLC bought a new position in shares of SLB Limited (NYSE:SLB) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,255 shares of the oil and gas company’s stock, valued at approximately $245,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Nuveen LLC acquired a new position in SLB during the 1st quarter valued at about $169,232,000. Assetmark Inc. grew its position in shares of SLB by 19.5% during the 2nd quarter. Assetmark Inc. now owns 56,561 shares of the oil and gas company’s stock worth $1,912,000 after buying an additional 9,210 shares during the period. Shell Asset Management Co. raised its stake in shares of SLB by 48.1% during the second quarter. Shell Asset Management Co. now owns 62,737 shares of the oil and gas company’s stock worth $2,121,000 after buying an additional 20,387 shares during the last quarter. Godsey & Gibb Inc. lifted its holdings in SLB by 9.6% in the second quarter. Godsey & Gibb Inc. now owns 493,092 shares of the oil and gas company’s stock valued at $16,667,000 after buying an additional 43,135 shares during the period. Finally, Emerald Advisors LLC bought a new position in SLB in the second quarter valued at approximately $352,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the sale, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the completion of the transaction, the executive vice president directly owned 159,371 shares of the company’s stock, valued at approximately $6,006,692.99. The trade was a 27.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 138,174 shares of company stock worth $5,107,677. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SLB. Melius Research initiated coverage on shares of SLB in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price for the company. Citigroup raised their price target on SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Rothschild Redb upgraded SLB to a “strong-buy” rating in a report on Monday, November 3rd. UBS Group reissued a “buy” rating and issued a $44.00 target price on shares of SLB in a research note on Tuesday, October 21st. Finally, Barclays raised their target price on SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.28.

SLB Price Performance

SLB opened at $36.57 on Tuesday. The stock has a market cap of $54.63 billion, a P/E ratio of 14.12, a P/E/G ratio of 10.19 and a beta of 0.97. SLB Limited has a 12 month low of $31.11 and a 12 month high of $44.66. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. The company has a fifty day simple moving average of $35.18 and a 200 day simple moving average of $34.87.

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

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio is presently 44.02%.

SLB Company Profile

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.