Great Lakes Retirement Inc. Has $9.39 Million Stock Position in SLB Limited $SLB

Great Lakes Retirement Inc. raised its stake in SLB Limited (NYSE:SLB) by 3.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 275,466 shares of the oil and gas company’s stock after buying an additional 8,953 shares during the period. SLB makes up 1.1% of Great Lakes Retirement Inc.’s investment portfolio, making the stock its 24th biggest position. Great Lakes Retirement Inc.’s holdings in SLB were worth $9,389,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. boosted its position in SLB by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 477 shares in the last quarter. Atticus Wealth Management LLC acquired a new position in shares of SLB during the second quarter worth $29,000. Atlas Capital Advisors Inc. acquired a new position in shares of SLB during the first quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of SLB by 55.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 350 shares during the period. Finally, Park Square Financial Group LLC acquired a new position in shares of SLB during the first quarter worth $38,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Trading Down 0.7%

SLB opened at $36.06 on Friday. SLB Limited has a 1-year low of $31.11 and a 1-year high of $44.97. 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 company has a market cap of $53.87 billion, a P/E ratio of 13.92, a price-to-earnings-growth ratio of 10.19 and a beta of 0.97. The company has a fifty day moving average price of $34.90 and a two-hundred day moving average price of $34.61.

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

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. SLB’s payout ratio is presently 44.02%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SLB. Barclays lifted their price target on shares of SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. UBS Group reiterated a “buy” rating and set a $44.00 price target on shares of SLB in a report on Tuesday, October 21st. Wells Fargo & Company downgraded shares of SLB from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. Citigroup lifted their target price on shares of SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Finally, Susquehanna lowered their target price on shares of SLB from $44.00 to $42.00 and set a “positive” rating for the company in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, SLB has an average rating of “Moderate Buy” and a consensus target price of $51.69.

Insider Activity at SLB

In other news, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the sale, the insider directly owned 202,201 shares of the company’s stock, valued at $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.22% of the stock is currently owned by insiders.

SLB Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.