ProShare Advisors LLC Purchases 11,093 Shares of SLB Limited $SLB

ProShare Advisors LLC boosted its holdings in shares of SLB Limited (NYSE:SLB) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 291,243 shares of the oil and gas company’s stock after buying an additional 11,093 shares during the period. ProShare Advisors LLC’s holdings in SLB were worth $9,844,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of SLB by 478.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock valued at $1,994,674,000 after acquiring an additional 39,474,501 shares during the last quarter. Boston Partners raised its stake in SLB by 27.7% in the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock valued at $824,160,000 after purchasing an additional 4,300,222 shares in the last quarter. Northern Trust Corp lifted its position in SLB by 4.4% during the first quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock valued at $602,860,000 after purchasing an additional 604,832 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in SLB by 22.8% during the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company’s stock valued at $375,738,000 after purchasing an additional 1,667,203 shares during the last quarter. Finally, Invesco Ltd. grew its stake in SLB by 3.8% in the 1st quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company’s stock worth $320,154,000 after buying an additional 281,937 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

SLB Stock Down 4.1%

SLB opened at $36.06 on Thursday. The company has a market cap of $53.87 billion, a P/E ratio of 13.92, a P/E/G ratio of 10.19 and a beta of 0.97. The business’s 50-day moving average price is $35.00 and its 200-day moving average price is $34.73. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. SLB Limited has a 12 month low of $31.11 and a 12 month high of $44.97.

SLB (NYSE:SLB) last issued its 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 company had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.99 billion. SLB had a return on equity of 18.97% and a net margin of 10.34%.SLB’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 EPS. On average, equities analysts expect that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be issued a $0.285 dividend. 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%.

Analyst Ratings Changes

Several analysts have recently weighed in on SLB shares. Wells Fargo & Company cut shares of SLB from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 20th. Barclays increased their target price on SLB from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Stifel Nicolaus dropped their price target on SLB from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Citigroup increased their price objective on SLB from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Finally, Rothschild & Co Redburn started coverage on SLB in a report on Monday, November 3rd. They set a “buy” rating and a $48.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.28.

Insider Buying and Selling at SLB

In other SLB news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total value of $2,261,400.00. Following the sale, the executive vice president owned 159,371 shares of the company’s stock, valued at $6,006,692.99. This trade represents a 27.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dianne B. Ralston sold 39,727 shares of the company’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 transaction, the insider directly owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.22% of the stock is owned by insiders.

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.