HB Wealth Management LLC Acquires 12,571 Shares of SLB Limited $SLB

HB Wealth Management LLC raised its stake in shares of SLB Limited (NYSE:SLB) by 60.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,410 shares of the oil and gas company’s stock after purchasing an additional 12,571 shares during the quarter. HB Wealth Management LLC’s holdings in SLB were worth $1,148,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its stake in SLB by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after buying an additional 1,166 shares in the last quarter. Bison Wealth LLC bought a new position in shares of SLB during the fourth quarter valued at $238,000. Focus Partners Wealth boosted its stake in shares of SLB by 13.8% in the 1st quarter. Focus Partners Wealth now owns 169,101 shares of the oil and gas company’s stock valued at $7,076,000 after purchasing an additional 20,463 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of SLB by 7.8% in the 1st quarter. Intech Investment Management LLC now owns 83,904 shares of the oil and gas company’s stock worth $3,507,000 after purchasing an additional 6,038 shares during the last quarter. Finally, Jacobi Capital Management LLC increased its position in shares of SLB by 11.8% during the 1st quarter. Jacobi Capital Management LLC now owns 8,074 shares of the oil and gas company’s stock worth $338,000 after purchasing an additional 852 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Stock Up 1.7%

NYSE:SLB opened at $45.20 on Monday. The company has a market cap of $67.52 billion, a price-to-earnings ratio of 17.45 and a beta of 0.72. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. The stock’s fifty day moving average price is $38.05 and its two-hundred day moving average price is $35.87. SLB Limited has a 52-week low of $31.11 and a 52-week high of $45.24.

SLB (NYSE:SLB) last released its earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The company had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.99 billion. During the same period last year, the firm earned $0.89 EPS. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, analysts anticipate that SLB Limited will post 3.38 EPS for the current year.

SLB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd were given a dividend of $0.285 per share. The ex-dividend date was Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 2.5%. SLB’s dividend payout ratio is presently 44.02%.

Insider Activity

In other news, CFO Stephane Biguet sold 38,447 shares of SLB stock in a transaction that occurred on 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 completion of the sale, the chief financial officer owned 175,690 shares in the company, valued at $6,456,607.50. The trade was a 17.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the sale, the executive vice president directly owned 159,371 shares of the company’s stock, valued at approximately $6,006,692.99. This trade represents a 27.35% 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 currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Citigroup boosted their price target on shares of SLB from $47.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Sanford C. Bernstein boosted their target price on SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a report on Thursday, December 11th. Rothschild & Co Redburn initiated coverage on SLB in a research report on Monday, November 3rd. They set a “buy” rating and a $48.00 price target on the stock. UBS Group lifted their price objective on SLB from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Finally, TD Cowen boosted their price objective on SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, SLB currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.42.

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.