SLB Limited $SLB Shares Acquired by Rockland Trust Co.

Rockland Trust Co. boosted its holdings in SLB Limited (NYSE:SLB) by 13.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 477,023 shares of the oil and gas company’s stock after purchasing an additional 55,752 shares during the quarter. Rockland Trust Co.’s holdings in SLB were worth $16,395,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC purchased a new position in shares of SLB in the 2nd quarter valued at $25,000. Root Financial Partners LLC acquired a new position in SLB in the third quarter valued at $29,000. Corsicana & Co. acquired a new position in SLB in the third quarter valued at $31,000. Strengthening Families & Communities LLC purchased a new position in shares of SLB during the third quarter worth about $31,000. Finally, NewSquare Capital LLC increased its position 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 purchasing an additional 341 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Price Performance

Shares of NYSE SLB opened at $50.56 on Tuesday. The stock has a fifty day moving average price of $43.16 and a 200 day moving average price of $37.83. SLB Limited has a 1-year low of $31.11 and a 1-year high of $51.67. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98. The company has a market cap of $75.60 billion, a PE ratio of 21.33, a P/E/G ratio of 3.45 and a beta of 0.72.

SLB (NYSE:SLB) last announced its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 EPS 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 company had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.54 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. SLB’s quarterly revenue was up 5.0% on a year-over-year basis. Sell-side analysts forecast that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be given a $0.295 dividend. The ex-dividend date is Wednesday, February 11th. This is an increase from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a yield of 2.3%. SLB’s payout ratio is 48.10%.

Insider Buying and Selling

In other SLB news, CFO Stephane Biguet sold 61,017 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 155,548 shares in the company, valued at approximately $7,730,735.60. The trade was a 28.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 60,000 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 $2,982,000.00. Following the transaction, the executive vice president directly owned 140,602 shares of the company’s stock, valued at approximately $6,987,919.40. This trade represents a 29.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 200,849 shares of company stock worth $9,406,603 in the last three months. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. The Goldman Sachs Group reissued a “buy” rating and issued a $49.00 target price on shares of SLB in a research report on Wednesday, January 14th. JPMorgan Chase & Co. increased their price objective on SLB from $43.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Freedom Capital cut shares of SLB from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Royal Bank Of Canada upped their price target on shares of SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Finally, Stifel Nicolaus set a $56.00 price objective on shares of SLB in a research report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, SLB presently has an average rating of “Moderate Buy” and an average target price 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.