Calamos Advisors LLC Has $26.30 Million Stake in SLB Limited $SLB

Calamos Advisors LLC grew its stake in shares of SLB Limited (NYSE:SLB) by 134.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 765,234 shares of the oil and gas company’s stock after purchasing an additional 438,188 shares during the period. Calamos Advisors LLC owned about 0.05% of SLB worth $26,301,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in SLB by 14.2% in the 2nd quarter. Vanguard Group Inc. now owns 150,317,566 shares of the oil and gas company’s stock valued at $5,080,734,000 after buying an additional 18,672,021 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of SLB by 30.4% in the 2nd quarter. Franklin Resources Inc. now owns 20,233,749 shares of the oil and gas company’s stock worth $683,901,000 after acquiring an additional 4,719,852 shares in the last quarter. Norges Bank purchased a new stake in shares of SLB in the second quarter valued at about $618,697,000. Amundi lifted its position in shares of SLB by 29.9% during the second quarter. Amundi now owns 11,415,740 shares of the oil and gas company’s stock valued at $409,939,000 after purchasing an additional 2,624,679 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of SLB by 1.2% during the second quarter. Legal & General Group Plc now owns 9,681,754 shares of the oil and gas company’s stock valued at $327,243,000 after purchasing an additional 114,190 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

SLB Price Performance

Shares of NYSE SLB opened at $38.55 on Wednesday. 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 has a fifty day simple moving average of $37.08 and a two-hundred day simple moving average of $35.47. SLB Limited has a 1-year low of $31.11 and a 1-year high of $44.66. The firm has a market cap of $57.59 billion, a price-to-earnings ratio of 14.88 and a beta of 0.73.

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

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders 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 dividend yield of 3.0%. SLB’s payout ratio is 44.02%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SLB shares. Rothschild Redb upgraded shares of SLB to a “strong-buy” rating in a research note on Monday, November 3rd. JPMorgan Chase & Co. reduced their target price on SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Cowen reiterated a “buy” rating and set a $57.00 price target on shares of SLB in a report on Thursday, December 11th. Rothschild & Co Redburn began coverage on SLB in a research report on Monday, November 3rd. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, Citigroup upped their price objective on SLB from $47.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.42.

Insider Activity at SLB

In other SLB news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the sale, the executive vice president owned 159,371 shares in the company, valued at $6,006,692.99. This represents a 27.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Stephane Biguet sold 38,447 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $36.75, for a total value of $1,412,927.25. Following the completion of the transaction, the chief financial officer directly owned 175,690 shares of the company’s stock, valued at $6,456,607.50. The trade was a 17.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 103,947 shares of company stock worth $3,871,337. 0.22% of the stock is owned by corporate insiders.

SLB 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.