New York State Teachers Retirement System Grows Position in SLB Limited $SLB

New York State Teachers Retirement System boosted its stake in SLB Limited (NYSE:SLB) by 15.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,241,542 shares of the oil and gas company’s stock after buying an additional 165,182 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of SLB worth $42,672,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of SLB by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after acquiring an additional 1,166 shares during the period. Bison Wealth LLC acquired a new position in SLB during the fourth quarter worth $238,000. Focus Partners Wealth lifted its stake in SLB by 13.8% during the first quarter. Focus Partners Wealth now owns 169,101 shares of the oil and gas company’s stock worth $7,076,000 after purchasing an additional 20,463 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of SLB by 7.8% during the first quarter. Intech Investment Management LLC now owns 83,904 shares of the oil and gas company’s stock worth $3,507,000 after buying an additional 6,038 shares during the period. Finally, Jacobi Capital Management LLC grew its stake in shares of SLB by 11.8% in the first quarter. Jacobi Capital Management LLC now owns 8,074 shares of the oil and gas company’s stock valued at $338,000 after buying an additional 852 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Trading Up 1.7%

NYSE SLB opened at $45.20 on Monday. SLB Limited has a 52 week low of $31.11 and a 52 week high of $45.24. The firm has a 50 day moving average of $38.05 and a two-hundred day moving average of $35.87. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $67.52 billion, a PE ratio of 17.45 and a beta of 0.72.

SLB (NYSE:SLB) last announced its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $8.93 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business earned $0.89 EPS. As a group, research analysts expect that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd were given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, December 3rd. SLB’s dividend payout ratio is currently 44.02%.

Analyst Ratings Changes

A number of brokerages recently commented on SLB. Evercore ISI set a $54.00 target price on SLB and gave the company an “outperform” rating in a report on Tuesday, January 6th. Redburn Partners set a $48.00 price objective on shares of SLB in a research note on Monday, November 3rd. Barclays cut their target price on shares of SLB from $48.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Finally, Cowen restated a “buy” rating and issued a $57.00 price target on shares of SLB in a research note on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.42.

Insider Transactions at SLB

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter John Coleman sold 5,500 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total transaction of $197,010.00. Following the completion of the transaction, the director owned 18,671 shares in the company, valued at $668,795.22. This represents a 22.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 103,947 shares of company stock valued at $3,871,337. 0.22% of the stock is currently 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.