ABN Amro Investment Solutions Makes New Investment in SLB Limited $SLB

ABN Amro Investment Solutions purchased a new stake in SLB Limited (NYSE:SLB) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 354,666 shares of the oil and gas company’s stock, valued at approximately $11,988,000.

Several other hedge funds have also made changes to their positions in SLB. Charles Schwab Investment Management Inc. increased its stake in SLB by 478.8% in the first 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 grew its holdings in SLB by 27.7% in the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock valued at $824,160,000 after buying an additional 4,300,222 shares during the period. Northern Trust Corp increased its stake in shares of SLB by 4.4% during the 1st quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock valued at $602,860,000 after acquiring an additional 604,832 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of SLB by 22.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company’s stock worth $375,738,000 after acquiring an additional 1,667,203 shares during the period. Finally, Invesco Ltd. boosted its position in shares of SLB by 3.8% in the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company’s stock worth $320,154,000 after acquiring an additional 281,937 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Stock Down 4.1%

Shares of NYSE SLB opened at $36.06 on Thursday. The stock has a fifty day moving average price of $35.00 and a 200 day moving average price of $34.73. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. SLB Limited has a 12-month low of $31.11 and a 12-month high of $44.97. The company has a market cap of $53.87 billion, a P/E ratio of 13.92, a P/E/G ratio of 10.19 and a beta of 0.97.

SLB (NYSE:SLB) last issued its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, topping the consensus estimate 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 revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 earnings per share. Research analysts anticipate that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Dividend Announcement

The company 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 $0.285 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a yield of 3.2%. SLB’s dividend payout ratio (DPR) is 44.02%.

Wall Street Analyst Weigh In

Several brokerages recently commented on SLB. Zacks Research raised shares of SLB from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Rothschild & Co Redburn started coverage on shares of SLB in a research note on Monday, November 3rd. They set a “buy” rating and a $48.00 price objective for the company. UBS Group restated a “buy” rating and set a $44.00 price objective on shares of SLB in a report on Tuesday, October 21st. Rothschild Redb upgraded SLB to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Citigroup boosted their price target on SLB from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and an average price target of $51.28.

Insider Activity at SLB

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the completion of the sale, the executive vice president directly owned 159,371 shares of the company’s stock, valued at approximately $6,006,692.99. This trade represents a 27.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares in the company, valued at $7,295,412.08. This represents a 16.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.22% of the stock is owned by company insiders.

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.