SLB Limited $SLB Shares Purchased by Jones Financial Companies Lllp

Jones Financial Companies Lllp lifted its position in SLB Limited (NYSE:SLB) by 20.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 83,641 shares of the oil and gas company’s stock after purchasing an additional 14,277 shares during the quarter. Jones Financial Companies Lllp’s holdings in SLB were worth $2,970,000 at the end of the most recent reporting period.

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

SLB Stock Up 2.5%

SLB stock opened at $50.74 on Friday. The stock has a 50 day moving average of $42.88 and a two-hundred day moving average of $37.71. SLB Limited has a twelve month low of $31.11 and a twelve month high of $51.67. The stock has a market capitalization of $75.87 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 3.45 and a beta of 0.73. 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 (NYSE:SLB) last released its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The business had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.54 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, research analysts expect that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The company 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 dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. This is a positive change from SLB’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, February 11th. SLB’s dividend payout ratio (DPR) is presently 48.10%.

Insider Activity

In related news, Director Peter John Coleman sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total value of $197,010.00. Following the completion of the sale, the director owned 18,671 shares in the company, valued at $668,795.22. This trade represents a 22.75% 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, CFO Stephane Biguet sold 61,017 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $3,032,544.90. Following the transaction, the chief financial officer directly owned 155,548 shares of the company’s stock, valued at approximately $7,730,735.60. This trade represents a 28.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 260,849 shares of company stock valued at $11,668,003 over the last ninety days. 0.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SLB shares. Citigroup upped their target price on shares of SLB from $53.00 to $56.00 and gave the company a “buy” rating in a report on Monday, January 26th. Piper Sandler upped 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. UBS Group reiterated a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. Stifel Nicolaus set a $56.00 target price on SLB in a report on Monday, January 26th. Finally, Rothschild & Co Redburn set a $48.00 price target on SLB in a research note on Monday, November 3rd. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $52.38.

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.