SLB Limited $SLB Position Boosted by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG lifted its stake in SLB Limited (NYSE:SLB) by 1,937.4% in the third quarter, Holdings Channel.com reports. The firm owned 996,948 shares of the oil and gas company’s stock after acquiring an additional 948,015 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in SLB were worth $34,265,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SLB. Hedges Asset Management LLC lifted its position in SLB by 0.9% in the 3rd quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock worth $1,203,000 after buying an additional 300 shares in the last quarter. Legacy Wealth Asset Management LLC increased its stake in shares of SLB by 2.2% in the second quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock worth $486,000 after acquiring an additional 308 shares during the last quarter. NewSquare Capital LLC raised its holdings in shares of SLB by 51.4% during the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 341 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in SLB by 55.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. Finally, Choreo LLC grew its stake in SLB by 0.8% in the second quarter. Choreo LLC now owns 45,222 shares of the oil and gas company’s stock valued at $1,541,000 after purchasing an additional 357 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Price Performance

Shares of NYSE:SLB opened at $38.38 on Friday. The company has a market cap of $57.34 billion, a price-to-earnings ratio of 14.82 and a beta of 0.72. The business has a 50 day moving average price of $37.20 and a 200 day moving average price of $35.51. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. SLB Limited has a twelve month low of $31.11 and a twelve month high of $44.66.

SLB (NYSE:SLB) last issued its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.99 billion. SLB had a return on equity of 18.97% and a net margin of 10.34%.The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 earnings per share. Research analysts predict that SLB Limited will post 3.38 earnings per share 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 $0.285 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.0%. SLB’s dividend payout ratio (DPR) is currently 44.02%.

Insider Transactions at SLB

In other news, Director Peter John Coleman sold 5,500 shares of SLB stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $35.82, for a total transaction of $197,010.00. Following the sale, the director owned 18,671 shares of the company’s stock, valued at approximately $668,795.22. This trade represents a 22.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the company’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 completion of the transaction, the executive vice president owned 159,371 shares of the company’s stock, valued at $6,006,692.99. The trade was a 27.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 103,947 shares of company stock valued at $3,871,337. 0.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Citigroup raised their price target on SLB from $47.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Redburn Partners set a $48.00 target price on shares of SLB in a research report on Monday, November 3rd. UBS Group increased their price target on shares of SLB from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Finally, Piper Sandler lifted their price objective on shares of SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.42.

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.