iA Global Asset Management Inc. Grows Position in SLB Limited $SLB

iA Global Asset Management Inc. raised its position in SLB Limited (NYSE:SLB) by 46.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 146,503 shares of the oil and gas company’s stock after acquiring an additional 46,532 shares during the quarter. iA Global Asset Management Inc.’s holdings in SLB were worth $4,952,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. First Command Advisory Services Inc. lifted its holdings 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 acquiring an additional 477 shares during the period. Atlas Capital Advisors Inc. bought a new position in SLB in the first quarter valued at about $33,000. Atticus Wealth Management LLC bought a new position in SLB in the second quarter valued at about $29,000. Park Square Financial Group LLC bought a new position in SLB in the first quarter valued at about $38,000. Finally, N.E.W. Advisory Services LLC bought a new position in SLB in the first quarter valued at about $40,000. Institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SLB shares. Weiss Ratings reissued a “hold (c-)” rating on shares of SLB in a report on Wednesday, October 8th. Susquehanna lowered their target price on SLB from $44.00 to $42.00 and set a “positive” rating on the stock in a report on Monday, July 21st. Melius initiated coverage on SLB in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective on the stock. Piper Sandler set a $42.00 price objective on SLB and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Stifel Nicolaus decreased their price objective on SLB from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and an average price target of $51.69.

SLB Stock Down 0.7%

NYSE SLB opened at $36.06 on Monday. The stock’s 50-day moving average price is $34.90 and its 200-day moving average price is $34.62. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. SLB Limited has a 52 week low of $31.11 and a 52 week high of $44.97. The company has a market capitalization 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.

SLB (NYSE:SLB) last released its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The firm had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.99 billion. During the same quarter last year, the business posted $0.89 earnings per share. The firm’s revenue was down 2.5% on a year-over-year basis. On average, equities research analysts predict that SLB Limited will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

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

Insider Activity

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares in the company, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.22% of the company’s stock.

About SLB

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.