Pacer Advisors Inc. Raises Holdings in SLB Limited $SLB

Pacer Advisors Inc. lifted its stake in SLB Limited (NYSE:SLB) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,031,506 shares of the oil and gas company’s stock after buying an additional 179,259 shares during the period. Pacer Advisors Inc.’s holdings in SLB were worth $309,959,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Evergreen Advisors LLC purchased a new position in SLB in the first quarter valued at about $26,000. Costello Asset Management INC grew its position in shares of SLB by 93.3% during the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after buying an additional 280 shares in the last quarter. MV Capital Management Inc. acquired a new stake in shares of SLB during the fourth quarter worth approximately $28,000. Sound Income Strategies LLC increased its stake in shares of SLB by 71.1% in the first quarter. Sound Income Strategies LLC now owns 780 shares of the oil and gas company’s stock worth $39,000 after buying an additional 324 shares during the last quarter. Finally, Steph & Co. increased its stake in shares of SLB by 97.5% in the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after buying an additional 394 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director directly owned 16,953 shares in the company, valued at $921,056.49. This trade represents a 10.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.

SLB Price Performance

Shares of NYSE SLB opened at $49.58 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05. The firm has a market capitalization of $73.59 billion, a PE ratio of 23.95, a P/E/G ratio of 3.27 and a beta of 0.73. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The business’s fifty day moving average price is $50.43 and its two-hundred day moving average price is $50.80.

SLB (NYSE:SLB) last announced its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. The company had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. On average, research analysts expect that SLB Limited will post 2.5 EPS for the current year.

SLB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB’s payout ratio is presently 57.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wolfe Research assumed coverage on shares of SLB in a research note on Wednesday, July 8th. They set an “outperform” rating and a $62.00 price objective on the stock. UBS Group cut their target price on shares of SLB from $69.00 to $66.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. BMO Capital Markets increased their price target on shares of SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. TD Cowen lifted their price target on SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Finally, Sanford C. Bernstein boosted their price objective on SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, SLB presently has an average rating of “Moderate Buy” and a consensus target price of $61.35.

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.