Assetmark Inc. Purchases 11,490 Shares of SLB Limited $SLB

Assetmark Inc. lifted its holdings in SLB Limited (NYSE:SLB) by 20.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,051 shares of the oil and gas company’s stock after acquiring an additional 11,490 shares during the quarter. Assetmark Inc.’s holdings in SLB were worth $2,339,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake 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. Franklin Resources Inc. grew its holdings 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 acquiring an additional 4,719,852 shares during the last quarter. Norges Bank acquired a new stake in SLB in the 2nd quarter valued at about $618,697,000. Amundi raised its stake in shares of SLB by 29.9% in the second quarter. Amundi now owns 11,415,740 shares of the oil and gas company’s stock worth $409,939,000 after acquiring an additional 2,624,679 shares during the last quarter. Finally, Legal & General Group Plc lifted its position 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 purchasing an additional 114,190 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SLB

In related news, insider Dianne B. Ralston sold 18,617 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.50, for a total transaction of $921,541.50. Following the completion of the transaction, the insider owned 224,097 shares in the company, valued at approximately $11,092,801.50. The trade was a 7.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Howard Guild sold 13,268 shares of the company’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 $659,419.60. Following the completion of the sale, the chief accounting officer directly owned 22,407 shares of the company’s stock, valued at $1,113,627.90. The trade was a 37.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 162,402 shares of company stock worth $7,993,676 over the last ninety days. 0.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Evercore set a $54.00 price target on shares of SLB and gave the company an “outperform” rating in a report on Tuesday, January 6th. UBS Group reissued a “buy” rating on shares of SLB in a research note on Tuesday, January 27th. Sanford C. Bernstein boosted their target price on SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. Barclays raised their price target on SLB from $47.00 to $49.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Finally, Jefferies Financial Group lifted their price objective on SLB from $51.00 to $58.00 and gave the stock a “buy” rating in a research report on Sunday, February 1st. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.38.

SLB Stock Up 3.5%

NYSE:SLB opened at $51.58 on Thursday. 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 Limited has a 12-month low of $31.11 and a 12-month high of $52.40. The stock’s fifty day simple moving average is $44.92 and its 200-day simple moving average is $38.59. The firm has a market capitalization of $77.12 billion, a P/E ratio of 21.76, a P/E/G ratio of 3.39 and a beta of 0.73.

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, beating 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 quarter in the prior year, the company posted $0.92 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. Equities research analysts expect 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. Investors of record on Wednesday, February 11th will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, February 11th. This is a positive change from SLB’s previous quarterly dividend of $0.29. SLB’s payout ratio is 49.79%.

SLB 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.