Allstate Corp Boosts Stake in SLB Limited $SLB

Allstate Corp lifted its holdings in SLB Limited (NYSE:SLB) by 104.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 114,317 shares of the oil and gas company’s stock after purchasing an additional 58,525 shares during the quarter. Allstate Corp’s holdings in SLB were worth $4,387,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Root Financial Partners LLC acquired a new position in SLB during the third quarter worth $29,000. Strategic Wealth Advisors LLC acquired a new position in shares of SLB in the fourth quarter worth $30,000. Strengthening Families & Communities LLC acquired a new position in shares of SLB in the third quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of SLB in the fourth quarter worth $31,000. Finally, Steph & Co. raised its holdings in shares of SLB by 97.5% in the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 394 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at SLB

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the sale, the executive vice president owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director directly owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by insiders.

SLB Price Performance

Shares of NYSE:SLB opened at $58.18 on Wednesday. The company has a market cap of $86.98 billion, a P/E ratio of 25.41, a P/E/G ratio of 2.32 and a beta of 0.72. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The business has a fifty day simple moving average of $52.92 and a 200-day simple moving average of $46.80.

SLB (NYSE:SLB) last announced its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. Equities research analysts forecast that SLB Limited will post 2.61 EPS for the current year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s payout ratio is 51.53%.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of analyst reports. Freedom Capital cut SLB from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Evercore reissued an “outperform” rating and issued a $64.00 price target on shares of SLB in a report on Monday, April 27th. Susquehanna boosted their price target on SLB from $60.00 to $65.00 and gave the stock a “positive” rating in a report on Monday, April 27th. JPMorgan Chase & Co. boosted their price target on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Finally, UBS Group boosted their price target on SLB from $61.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Three 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.74.

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.