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

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

Several other large investors have also recently added to or reduced their stakes in SLB. Howard Capital Management Inc. increased its position in shares of SLB by 3.2% during the third quarter. Howard Capital Management Inc. now owns 9,165 shares of the oil and gas company’s stock worth $315,000 after acquiring an additional 288 shares during the period. Fielder Capital Group LLC boosted its holdings in SLB by 2.5% in the third quarter. Fielder Capital Group LLC now owns 12,137 shares of the oil and gas company’s stock valued at $417,000 after purchasing an additional 293 shares during the period. Hedges Asset Management LLC grew its stake in SLB by 0.9% during the 3rd quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock worth $1,203,000 after purchasing an additional 300 shares in the last quarter. Gables Capital Management Inc. grew its stake in SLB by 31.6% during the 3rd quarter. Gables Capital Management Inc. now owns 1,250 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 300 shares in the last quarter. Finally, Anchor Investment Management LLC increased its holdings in SLB by 7.4% during the 3rd quarter. Anchor Investment Management LLC now owns 4,350 shares of the oil and gas company’s stock worth $150,000 after purchasing an additional 300 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of analyst reports. UBS Group reaffirmed a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. Susquehanna upped their target price on shares of SLB from $52.00 to $58.00 and gave the stock a “positive” rating in a research note on Monday, January 26th. TD Cowen raised their target price on shares of SLB from $56.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Loop Capital set a $48.00 price target on shares of SLB in a research note on Tuesday, January 27th. Finally, Wall Street Zen cut shares of SLB from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.16.

SLB Trading Down 2.5%

SLB opened at $46.61 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33. SLB Limited has a one year low of $31.11 and a one year high of $52.45. The company has a market cap of $70.03 billion, a P/E ratio of 19.67, a PEG ratio of 3.32 and a beta of 0.68. The business’s 50-day simple moving average is $48.74 and its 200-day simple moving average is $40.78.

SLB (NYSE:SLB) last posted its earnings results 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 firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 earnings per share. As a group, equities research analysts expect that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Increases Dividend

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

Insider Transactions at SLB

In related news, CAO Howard Guild sold 13,268 shares of the stock in a transaction on Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $659,419.60. Following the transaction, the chief accounting officer directly owned 22,407 shares of the company’s stock, valued at $1,113,627.90. This trade represents a 37.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 60,000 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 transaction of $2,982,000.00. Following the sale, the executive vice president owned 140,602 shares in the company, valued at $6,987,919.40. This represents a 29.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 156,902 shares of company stock worth $7,796,666. Insiders own 0.16% of the company’s stock.

About SLB

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.