AGF Management Ltd. Sells 17,441 Shares of SLB Limited $SLB

AGF Management Ltd. reduced its position in shares of SLB Limited (NYSE:SLB) by 10.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 148,040 shares of the oil and gas company’s stock after selling 17,441 shares during the quarter. AGF Management Ltd.’s holdings in SLB were worth $5,004,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of SLB by 478.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock valued at $1,994,674,000 after purchasing an additional 39,474,501 shares during the last quarter. Boston Partners increased its stake in shares of SLB by 27.7% in the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock worth $824,160,000 after acquiring an additional 4,300,222 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in SLB by 211.1% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company’s stock valued at $250,507,000 after buying an additional 4,066,500 shares during the last quarter. Nuveen LLC bought a new position in shares of SLB in the first quarter worth approximately $169,232,000. Finally, Banque Transatlantique SA boosted its position in shares of SLB by 21,737.8% during the first quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company’s stock valued at $71,821,000 after buying an additional 1,850,760 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

SLB Trading Up 0.8%

SLB stock opened at $36.65 on Monday. SLB Limited has a 12 month low of $31.11 and a 12 month high of $44.97. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. The stock’s 50 day simple moving average is $34.95 and its two-hundred day simple moving average is $34.69. The firm has a market cap of $54.75 billion, a PE ratio of 14.15, a P/E/G ratio of 10.19 and a beta of 0.97.

SLB (NYSE:SLB) last issued its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 earnings per share. Analysts anticipate that SLB Limited will post 3.38 earnings per share for the current year.

SLB Announces Dividend

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

Analyst Ratings Changes

SLB has been the subject of a number of recent research reports. Redburn Partners set a $48.00 price target on SLB in a research note on Monday, November 3rd. Wells Fargo & Company cut shares of SLB from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a report on Wednesday, October 8th. Melius Research began coverage on shares of SLB in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 price target for the company. Finally, JPMorgan Chase & Co. dropped their target price on SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, SLB presently has an average rating of “Moderate Buy” and a consensus price target of $51.28.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the transaction, the insider directly owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.22% of the company’s stock.

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.