SLB Limited $SLB Stock: Schwartz Investment Counsel Inc. Raises Holdings

Schwartz Investment Counsel Inc. boosted its position in SLB Limited (NYSE:SLB) by 48.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 370,000 shares of the oil and gas company’s stock after buying an additional 120,000 shares during the period. Schwartz Investment Counsel Inc.’s holdings in SLB were worth $18,026,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SLB. State Street Corp boosted its holdings in SLB by 0.8% in the second quarter. State Street Corp now owns 91,222,641 shares of the oil and gas company’s stock worth $4,267,269,000 after acquiring an additional 722,060 shares in the last quarter. First Eagle Investment Management LLC grew its stake in SLB by 1.9% in the second quarter. First Eagle Investment Management LLC now owns 28,913,733 shares of the oil and gas company’s stock valued at $1,344,199,000 after acquiring an additional 537,566 shares during the period. Bank of New York Mellon Corp acquired a new stake in SLB in the second quarter valued at approximately $1,339,567,000. Amundi grew its stake in SLB by 15.8% in the second quarter. Amundi now owns 19,815,245 shares of the oil and gas company’s stock valued at $921,211,000 after acquiring an additional 2,698,766 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of SLB by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 15,901,998 shares of the oil and gas company’s stock valued at $817,246,000 after acquiring an additional 169,468 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research reports. Evercore upped their target price on SLB from $63.00 to $66.00 in a research report on Thursday, October 8th. Susquehanna increased their target price on SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a report on Monday, July 27th. Sanford C. Bernstein reissued an “outperform” rating on shares of SLB in a research report on Tuesday, September 1st. Jefferies Financial Group restated a “buy” rating and set a $66.00 price objective (up from $65.00) on shares of SLB in a report on Sunday, July 26th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of SLB in a research note on Monday, August 3rd. Twenty-four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.52.

SLB Trading Up 1.9%

SLB stock opened at $54.09 on Wednesday. SLB Limited has a 52-week low of $34.65 and a 52-week high of $60.46. The business has a 50-day simple moving average of $52.49 and a two-hundred day simple moving average of $51.23.

SLB (NYSE:SLB) last issued its quarterly earnings data on Friday, October 23rd. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.27 billion. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 earnings per share. On average, equities research analysts anticipate that SLB Limited will post 2.47 earnings per share for the current fiscal year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 2nd will be given a dividend of $0.2950 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.18 annualized dividend and a dividend yield of 2.2%.

About SLB

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.