WCM Investment Management LLC Increases Holdings in SLB Limited $SLB

WCM Investment Management LLC lifted its holdings in SLB Limited (NYSE:SLB) by 777.8% in the first quarter, Holdings Channel reports. The fund owned 942,864 shares of the oil and gas company’s stock after purchasing an additional 835,454 shares during the quarter. WCM Investment Management LLC’s holdings in SLB were worth $48,586,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SLB. Abel Hall LLC increased its stake in SLB by 2.7% during the first quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock worth $387,000 after acquiring an additional 198 shares during the last quarter. Private Wealth Asset Management LLC raised its position in SLB by 4.1% during the fourth quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock valued at $193,000 after purchasing an additional 200 shares during the period. Capital Advisors Ltd. LLC lifted its stake in shares of SLB by 9.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock valued at $129,000 after purchasing an additional 214 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of SLB by 2.2% in the 4th quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock valued at $395,000 after purchasing an additional 218 shares during the last quarter. Finally, Davis Capital Management boosted its holdings in shares of SLB by 1.0% in the 1st quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company’s stock worth $1,129,000 after purchasing an additional 220 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Trading Up 0.0%

SLB opened at $47.01 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. The stock’s 50 day moving average price is $51.90 and its 200-day moving average price is $50.31. SLB Limited has a one year low of $31.64 and a one year high of $58.82. The stock has a market cap of $70.29 billion, a price-to-earnings ratio of 20.53, a P/E/G ratio of 1.89 and a beta of 0.72.

SLB (NYSE:SLB) last issued its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. During the same period last year, the company earned $0.72 EPS. SLB’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that SLB Limited will post 2.53 EPS for the current year.

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd were paid a $0.295 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.5%. SLB’s dividend payout ratio (DPR) is presently 51.53%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SLB shares. TD Cowen cut their target price on SLB from $66.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Citigroup lowered their price target on SLB from $68.00 to $63.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Stifel Nicolaus lifted their price objective on shares of SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Jefferies Financial Group reiterated a “buy” rating and set a $65.00 price objective on shares of SLB in a research report on Sunday, April 26th. Finally, Barclays reduced their target price on shares of SLB from $66.00 to $64.00 and set an “overweight” rating on the stock in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.30.

Insider Buying and Selling at SLB

In other news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the completion of the sale, the director directly owned 16,953 shares in the company, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the sale, the executive vice president directly owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is currently owned by company insiders.

SLB Profile

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.