Connor Clark & Lunn Investment Management Ltd. Raises Stake in SLB Limited $SLB

Connor Clark & Lunn Investment Management Ltd. increased its holdings in SLB Limited (NYSE:SLB) by 104.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,033,651 shares of the oil and gas company’s stock after buying an additional 1,552,104 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in SLB were worth $141,034,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Abel Hall LLC lifted its stake in SLB by 2.7% during the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock valued at $387,000 after acquiring an additional 198 shares during the period. E Fund Management Co. Ltd. increased its stake in shares of SLB by 3.6% in the second quarter. E Fund Management Co. Ltd. now owns 5,712 shares of the oil and gas company’s stock worth $266,000 after acquiring an additional 199 shares during the period. Private Wealth Asset Management LLC raised its holdings in shares of 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 worth $193,000 after purchasing an additional 200 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of SLB by 9.3% during the first quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock worth $129,000 after purchasing an additional 214 shares during the last quarter. Finally, Ballentine Partners LLC lifted its position in SLB by 2.2% during the fourth 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 period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SLB has been the topic of several recent research reports. Evercore reaffirmed an “outperform” rating and issued a $66.00 price target on shares of SLB in a report on Monday, July 27th. Barclays boosted their price objective on SLB from $64.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, July 27th. JPMorgan Chase & Co. upped their target price on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Raymond James Financial dropped their target price on SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. Finally, Susquehanna lifted their price target on SLB from $55.00 to $62.00 and gave the company a “positive” rating in a research report on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, SLB has a consensus rating of “Moderate Buy” and an average price target of $61.35.

SLB Stock Performance

Shares of NYSE SLB opened at $53.90 on Monday. The company has a market capitalization of $80.00 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 3.55 and a beta of 0.73. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. The company’s fifty day moving average price is $49.30 and its 200 day moving average price is $51.26. SLB Limited has a 1 year low of $31.64 and a 1 year high of $58.82.

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

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be given a dividend of $0.295 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.2%. SLB’s dividend payout ratio (DPR) is 57.00%.

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.