SLB Limited $SLB Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of SLB Limited (NYSE:SLB) by 77.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,399,109 shares of the oil and gas company’s stock after acquiring an additional 1,481,359 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.25% of SLB worth $114,890,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SLB. First Command Advisory Services Inc. raised its holdings in SLB by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 477 shares in the last quarter. Atticus Wealth Management LLC purchased a new position in shares of SLB in the 2nd quarter valued at $29,000. Atlas Capital Advisors Inc. acquired a new stake in SLB during the 1st quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in SLB by 55.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 350 shares in the last quarter. Finally, NewSquare Capital LLC lifted its position in SLB by 51.4% in the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 341 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Stock Up 0.8%

SLB opened at $36.65 on Friday. SLB Limited has a 52 week low of $31.11 and a 52 week high of $44.97. The business has a 50 day moving average price of $34.95 and a two-hundred day moving average price of $34.68. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. The company has a market cap of $54.75 billion, a PE ratio of 14.15, a P/E/G 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, beating analysts’ consensus estimates of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The business had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, research analysts anticipate that SLB Limited will post 3.38 EPS for the current year.

SLB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders 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 dividend on an annualized basis and a yield of 3.1%. SLB’s dividend payout ratio is presently 44.02%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Piper Sandler set a $42.00 price objective on SLB and gave the stock an “overweight” rating in a report on Monday, October 20th. Melius Research began coverage on SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 target price for the company. Redburn Partners set a $48.00 price target on SLB in a research note on Monday, November 3rd. Wells Fargo & Company lowered SLB from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 20th. Finally, JPMorgan Chase & Co. reduced their price objective on SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $51.28.

Insider Activity at SLB

In other news, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the sale, the insider 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.