Caxton Associates LLP Makes New Investment in SLB Limited $SLB

Caxton Associates LLP acquired a new stake in SLB Limited (NYSE:SLB) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 44,088 shares of the oil and gas company’s stock, valued at approximately $1,490,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SLB. Brighton Jones LLC raised its holdings 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 during the period. Bison Wealth LLC purchased a new position in SLB in the 4th quarter worth approximately $238,000. Kovitz Investment Group Partners LLC boosted its stake in SLB by 4.8% during the first quarter. Kovitz Investment Group Partners LLC now owns 68,240 shares of the oil and gas company’s stock worth $2,852,000 after buying an additional 3,139 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of SLB by 254.8% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 94,981 shares of the oil and gas company’s stock valued at $3,970,000 after acquiring an additional 68,212 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its holdings in SLB by 42.0% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 24,923 shares of the oil and gas company’s stock valued at $1,042,000 after purchasing an additional 7,369 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Stock Down 1.3%

Shares of NYSE:SLB opened at $38.95 on Tuesday. SLB Limited has a 52-week low of $31.11 and a 52-week high of $44.66. The company has a market capitalization of $58.18 billion, a P/E ratio of 15.04 and a beta of 0.73. The stock’s fifty day simple moving average is $35.96 and its 200-day simple moving average is $35.18. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40.

SLB (NYSE:SLB) last released 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 firm had revenue of $8.93 billion for 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 firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 earnings per share. As a group, equities research analysts forecast that SLB Limited will post 3.38 earnings per share for the current fiscal 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 $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 2.9%. SLB’s dividend payout ratio (DPR) is 44.02%.

Insiders Place Their Bets

In other SLB news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total value of $2,261,400.00. Following the completion of the transaction, the executive vice president directly owned 159,371 shares of the company’s stock, valued at $6,006,692.99. This represents a 27.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter John Coleman sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total value of $197,010.00. Following the sale, the director owned 18,671 shares of the company’s stock, valued at approximately $668,795.22. This trade represents a 22.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 103,947 shares of company stock worth $3,871,337 over the last quarter. 0.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SLB has been the subject of several research analyst reports. Sanford C. Bernstein increased their target price on shares of SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a research note on Thursday. Rothschild & Co Redburn assumed coverage on shares of SLB in a research note on Monday, November 3rd. They set a “buy” rating and a $48.00 target price on the stock. Cowen restated a “buy” rating and issued a $57.00 price target on shares of SLB in a research note on Thursday. Rothschild Redb raised shares of SLB to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Zacks Research raised SLB from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $52.32.

SLB 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.