Cambria Investment Management L.P. Makes New $517,000 Investment in SLB Limited $SLB

Cambria Investment Management L.P. purchased a new stake in SLB Limited (NYSE:SLB) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 15,044 shares of the oil and gas company’s stock, valued at approximately $517,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in SLB by 25.2% in the third quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company’s stock valued at $528,217,000 after acquiring an additional 3,094,764 shares during the period. Great Lakes Retirement Inc. lifted its stake in SLB by 12.2% during the third quarter. Great Lakes Retirement Inc. now owns 308,955 shares of the oil and gas company’s stock worth $10,619,000 after purchasing an additional 33,489 shares during the period. Cresset Asset Management LLC boosted its holdings in SLB by 21.8% during the third quarter. Cresset Asset Management LLC now owns 39,451 shares of the oil and gas company’s stock valued at $1,367,000 after purchasing an additional 7,051 shares in the last quarter. South Dakota Investment Council grew its stake in shares of SLB by 6.2% in the 3rd quarter. South Dakota Investment Council now owns 570,203 shares of the oil and gas company’s stock valued at $19,598,000 after purchasing an additional 33,438 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of SLB by 2.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 267,342 shares of the oil and gas company’s stock worth $9,189,000 after buying an additional 6,184 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SLB has been the topic of several recent analyst reports. Piper Sandler boosted their price target on SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Royal Bank Of Canada lifted their price objective on SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Freedom Capital downgraded shares of SLB from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. UBS Group reaffirmed a “buy” rating on shares of SLB in a report on Tuesday, January 27th. Finally, Morgan Stanley reissued an “overweight” rating and set a $50.00 price target on shares of SLB in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $52.96.

Insider Transactions at SLB

In other news, CAO Howard Guild sold 13,268 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $659,419.60. Following the transaction, the chief accounting officer owned 22,407 shares of the company’s stock, valued at $1,113,627.90. This represents a 37.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Stephane Biguet sold 61,017 shares of SLB stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $3,032,544.90. Following the sale, the chief financial officer directly owned 155,548 shares of the company’s stock, valued at approximately $7,730,735.60. This trade represents a 28.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 156,902 shares of company stock valued at $7,796,666. 0.22% of the stock is currently owned by company insiders.

SLB Trading Down 1.2%

Shares of SLB opened at $47.32 on Friday. The stock’s fifty day simple moving average is $47.55 and its 200-day simple moving average is $39.89. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $71.10 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 3.26 and a beta of 0.68. SLB Limited has a 12-month low of $31.11 and a 12-month high of $52.45.

SLB (NYSE:SLB) last announced its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. The firm had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.54 billion. SLB had a return on equity of 17.45% and a net margin of 9.45%.The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.92 EPS. As a group, research analysts predict that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be issued a $0.295 dividend. This is an increase from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 2.5%. The ex-dividend date is Wednesday, February 11th. SLB’s dividend payout ratio (DPR) is currently 49.79%.

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.