Assetmark Inc. Increases Holdings in SLB Limited $SLB

Assetmark Inc. boosted its position in SLB Limited (NYSE:SLB) by 21.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 98,006 shares of the oil and gas company’s stock after buying an additional 17,434 shares during the period. Assetmark Inc.’s holdings in SLB were worth $5,037,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in SLB by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after acquiring an additional 1,166 shares during the period. Bison Wealth LLC purchased a new stake in SLB in the 4th quarter worth approximately $238,000. Marshall Wace LLP acquired a new stake in shares of SLB during the 2nd quarter worth approximately $8,628,000. Nebula Research & Development LLC grew its stake in shares of SLB by 76.0% during the 2nd quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company’s stock worth $824,000 after purchasing an additional 10,522 shares during the period. Finally, Diversify Advisory Services LLC increased its holdings in shares of SLB by 7.6% during the 2nd quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company’s stock valued at $373,000 after purchasing an additional 799 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

SLB Stock Up 0.5%

SLB stock opened at $46.62 on Wednesday. The stock has a market capitalization of $69.70 billion, a P/E ratio of 20.36, a P/E/G ratio of 1.87 and a beta of 0.72. The firm has a 50-day simple moving average of $51.54 and a 200-day simple moving average of $50.42. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82.

SLB (NYSE:SLB) last issued its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The firm had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same period last year, the company posted $0.72 EPS. SLB’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts forecast that SLB Limited will post 2.53 earnings per share for the current fiscal year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd were paid a $0.295 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.5%. SLB’s payout ratio is currently 51.53%.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of recent analyst reports. Sanford C. Bernstein increased their price target on shares of SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 price objective on shares of SLB in a research report on Sunday, April 26th. Raymond James Financial cut their price target on SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. Weiss Ratings cut SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $61.00 price objective on shares of SLB in a report on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.30.

Insider Buying and Selling

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the transaction, the director owned 16,953 shares in the company, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction on Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the sale, the executive vice president directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their position. The SEC filing for this sale provides additional information. 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.