Davis Capital Management Takes $720,000 Position in SLB Limited $SLB

Davis Capital Management acquired a new position in SLB Limited (NYSE:SLB) during the third quarter, Holdings Channel reports. The institutional investor acquired 20,948 shares of the oil and gas company’s stock, valued at approximately $720,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC bought a new position in SLB in the 2nd quarter worth approximately $25,000. Atticus Wealth Management LLC acquired a new stake in shares of SLB in the second quarter worth $29,000. Corsicana & Co. bought a new position in SLB during the third quarter worth $31,000. 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 valued at $33,000 after purchasing an additional 350 shares during the last quarter. Finally, NewSquare Capital LLC boosted its holdings in SLB by 51.4% in the 2nd quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 341 shares during the period. Institutional investors own 81.99% of the company’s stock.

SLB Stock Up 4.7%

Shares of SLB opened at $40.19 on Friday. 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 50-day moving average price of $37.28 and a two-hundred day moving average price of $35.54. The stock has a market cap of $60.04 billion, a price-to-earnings ratio of 15.52 and a beta of 0.72. SLB Limited has a 12 month low of $31.11 and a 12 month high of $44.66.

SLB (NYSE:SLB) last issued its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.99 billion. SLB had a return on equity of 18.97% and a net margin of 10.34%.SLB’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 EPS. Equities analysts predict that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, December 3rd. SLB’s payout ratio is currently 44.02%.

Insider Transactions at SLB

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the completion of the sale, the executive vice president owned 159,371 shares in the company, valued at $6,006,692.99. This trade represents a 27.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Stephane Biguet sold 38,447 shares of SLB stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $36.75, for a total transaction of $1,412,927.25. Following the transaction, the chief financial officer directly owned 175,690 shares of the company’s stock, valued at $6,456,607.50. This represents a 17.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SLB shares. Rothschild & Co Redburn started coverage on shares of SLB in a research report on Monday, November 3rd. They issued a “buy” rating and a $48.00 price target on the stock. Piper Sandler lifted their target price on SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. JPMorgan Chase & Co. lowered their price target on SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Redburn Partners set a $48.00 price target on SLB in a report on Monday, November 3rd. Finally, Barclays decreased their price objective on SLB from $48.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, December 17th. Two equities 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.42.

SLB Company 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.