Brandes Investment Partners LP Has $74.60 Million Stake in SLB Limited $SLB

Brandes Investment Partners LP boosted its holdings in SLB Limited (NYSE:SLB) by 29.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,943,761 shares of the oil and gas company’s stock after purchasing an additional 439,837 shares during the quarter. Brandes Investment Partners LP owned 0.13% of SLB worth $74,602,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SLB. Brighton Jones LLC raised its stake in SLB by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after purchasing an additional 1,166 shares in the last quarter. Bison Wealth LLC acquired a new stake in SLB in the 4th quarter worth about $238,000. Marshall Wace LLP acquired a new stake in SLB in the 2nd quarter worth about $8,628,000. Nebula Research & Development LLC raised its stake in SLB by 76.0% in the 2nd quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company’s stock worth $824,000 after purchasing an additional 10,522 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its stake in SLB by 7.6% in the 2nd quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company’s stock worth $373,000 after purchasing an additional 799 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SLB. The Goldman Sachs Group lifted their price objective on shares of SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Sanford C. Bernstein lifted their price objective on shares of SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Citigroup boosted their target price on shares of SLB from $59.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Royal Bank Of Canada restated an “outperform” rating and issued a $61.00 target price on shares of SLB in a research report on Monday, April 27th. Finally, Susquehanna boosted their target price on shares of SLB from $60.00 to $65.00 and gave the company a “positive” rating in a research report on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, SLB presently has an average rating of “Moderate Buy” and an average price target of $60.67.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total transaction of $108,660.00. Following the completion of the transaction, the director directly owned 16,953 shares in the company, valued at $921,056.49. This represents a 10.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is owned by corporate insiders.

SLB Price Performance

Shares of NYSE:SLB opened at $55.80 on Wednesday. The firm has a 50 day moving average of $54.35 and a 200-day moving average of $48.17. The stock has a market capitalization of $83.42 billion, a PE ratio of 24.36, a PEG ratio of 2.29 and a beta of 0.70. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82.

SLB (NYSE:SLB) last issued its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The company had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 EPS. On average, equities research analysts predict that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors 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 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio is currently 51.53%.

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.