Heritage Investors Management Corp Acquires 20,326 Shares of SLB Limited $SLB

Heritage Investors Management Corp increased its stake in shares of SLB Limited (NYSE:SLB) by 7.7% during the third quarter, HoldingsChannel reports. The fund owned 285,643 shares of the oil and gas company’s stock after acquiring an additional 20,326 shares during the quarter. Heritage Investors Management Corp’s holdings in SLB were worth $9,818,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Synergy Asset Management LLC raised its stake in shares of SLB by 100.0% in the third quarter. Synergy Asset Management LLC now owns 80,830 shares of the oil and gas company’s stock valued at $2,732,000 after acquiring an additional 40,415 shares during the last quarter. Americana Partners LLC grew its position in SLB by 10.1% during the 3rd quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company’s stock worth $8,526,000 after acquiring an additional 22,706 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in SLB by 13.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 210,056 shares of the oil and gas company’s stock valued at $7,220,000 after purchasing an additional 25,417 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in SLB by 1,937.4% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company’s stock valued at $34,265,000 after purchasing an additional 948,015 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in SLB by 4.9% in the 3rd quarter. Nordea Investment Management AB now owns 2,157,885 shares of the oil and gas company’s stock valued at $72,354,000 after purchasing an additional 100,918 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Morgan Stanley restated an “overweight” rating and set a $50.00 target price on shares of SLB in a report on Wednesday, January 21st. Redburn Partners set a $48.00 price objective on shares of SLB in a report on Monday, November 3rd. Rothschild Redb upgraded shares of SLB to a “strong-buy” rating in a research report on Monday, November 3rd. UBS Group reiterated a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. Finally, Susquehanna raised their price target on shares of SLB from $52.00 to $58.00 and gave the company a “positive” rating in a report on Monday, January 26th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $52.17.

SLB Stock Performance

SLB stock opened at $48.08 on Tuesday. The company has a market cap of $71.90 billion, a PE ratio of 20.29, a PEG ratio of 3.29 and a beta of 0.72. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. SLB Limited has a 1 year low of $31.11 and a 1 year high of $51.67. The company’s 50-day moving average is $41.72 and its two-hundred day moving average is $37.27.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. SLB had a net margin of 9.45% and a return on equity of 17.45%. The business had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.54 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. SLB’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities analysts anticipate that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be paid a $0.295 dividend. This is an increase from SLB’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.5%. SLB’s dividend payout ratio (DPR) is currently 48.10%.

Insiders Place Their Bets

In related news, CFO Stephane Biguet sold 61,017 shares of SLB stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $3,032,544.90. Following the completion of the sale, the chief financial officer directly owned 155,548 shares of the company’s stock, valued at $7,730,735.60. The trade was a 28.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $2,982,000.00. Following the completion of the sale, the executive vice president owned 140,602 shares of the company’s stock, valued at $6,987,919.40. This represents a 29.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 260,849 shares of company stock worth $11,668,003 over the last three months. Insiders own 0.22% of the company’s stock.

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.