Caxton Associates LLP Makes New Investment in SLB Limited $SLB

Caxton Associates LLP purchased a new stake in SLB Limited (NYSE:SLB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 44,088 shares of the oil and gas company’s stock, valued at approximately $1,490,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CYBER HORNET ETFs LLC bought a new position in SLB in the 2nd quarter worth approximately $126,000. Rexford Capital Inc. bought a new position in shares of SLB in the second quarter worth $203,000. Mcintyre Freedman & Flynn Investment Advisers Inc. increased its holdings in shares of SLB by 7.0% during the second quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 63,968 shares of the oil and gas company’s stock valued at $2,162,000 after purchasing an additional 4,203 shares during the period. Evergreen Capital Management LLC raised its stake in shares of SLB by 10.6% during the second quarter. Evergreen Capital Management LLC now owns 99,682 shares of the oil and gas company’s stock valued at $3,378,000 after purchasing an additional 9,561 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in SLB in the second quarter worth about $182,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Rothschild & Co Redburn initiated coverage on shares of SLB in a research note on Monday, November 3rd. They set a “buy” rating and a $48.00 target price on the stock. Melius started coverage on shares of SLB in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective on the stock. Sanford C. Bernstein upped their target price on SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a research report on Thursday. Citigroup increased their price target on SLB from $47.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. dropped their price objective on SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, SLB currently has an average rating of “Moderate Buy” and an average price target of $52.32.

Insiders Place Their Bets

In other news, CFO Stephane Biguet sold 38,447 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $36.75, for a total transaction of $1,412,927.25. Following the sale, the chief financial officer owned 175,690 shares in the company, valued at $6,456,607.50. The trade was a 17.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred 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 $6,006,692.99. This represents a 27.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 103,947 shares of company stock worth $3,871,337. Company insiders own 0.22% of the company’s stock.

SLB Trading Down 1.3%

SLB stock opened at $38.95 on Tuesday. The firm has a market cap of $58.18 billion, a price-to-earnings ratio of 15.04 and a beta of 0.73. SLB Limited has a 1 year low of $31.11 and a 1 year high of $44.66. The firm’s 50 day moving average price is $35.96 and its two-hundred day moving average price is $35.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39.

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, beating 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 return on equity of 18.97% and a net margin of 10.34%.The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 EPS. On average, research analysts predict that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 2.9%. SLB’s dividend payout ratio (DPR) is currently 44.02%.

SLB 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.