Eubel Brady & Suttman Asset Management Inc. Acquires 291,210 Shares of SLB Limited $SLB

Eubel Brady & Suttman Asset Management Inc. raised its holdings in SLB Limited (NYSE:SLB) by 78.3% during the third quarter, Holdings Channel.com reports. The fund owned 663,168 shares of the oil and gas company’s stock after purchasing an additional 291,210 shares during the period. SLB comprises about 2.6% of Eubel Brady & Suttman Asset Management Inc.’s holdings, making the stock its 16th largest holding. Eubel Brady & Suttman Asset Management Inc.’s holdings in SLB were worth $22,793,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of SLB by 14.2% in the 2nd quarter. Vanguard Group Inc. now owns 150,317,566 shares of the oil and gas company’s stock worth $5,080,734,000 after purchasing an additional 18,672,021 shares during the last quarter. Franklin Resources Inc. raised its holdings in SLB by 30.4% in the second quarter. Franklin Resources Inc. now owns 20,233,749 shares of the oil and gas company’s stock worth $683,901,000 after purchasing an additional 4,719,852 shares during the period. Norges Bank bought a new position in shares of SLB during the second quarter worth $618,697,000. Amundi grew its holdings in shares of SLB by 29.9% in the 2nd quarter. Amundi now owns 11,415,740 shares of the oil and gas company’s stock valued at $409,939,000 after buying an additional 2,624,679 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of SLB by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 9,681,754 shares of the oil and gas company’s stock valued at $327,243,000 after buying an additional 114,190 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Activity at SLB

In related news, insider Dianne B. Ralston sold 18,617 shares of the business’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $49.50, for a total transaction of $921,541.50. Following the transaction, the insider directly owned 224,097 shares in the company, valued at approximately $11,092,801.50. The trade was a 7.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director La Chevardiere Patrick De sold 4,000 shares of the stock in a transaction on Monday, January 26th. The shares were sold at an average price of $50.29, for a total transaction of $201,160.00. Following the completion of the sale, the director owned 19,525 shares of the company’s stock, valued at approximately $981,912.25. This represents a 17.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 162,402 shares of company stock worth $7,993,676. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Rothschild & Co Redburn set a $48.00 target price on SLB in a report on Monday, November 3rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $49.00 price target on shares of SLB in a research report on Wednesday, January 14th. Loop Capital set a $48.00 price objective on SLB in a report on Tuesday, January 27th. TD Cowen increased their target price on SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Finally, Bank of America lifted their price target on shares of SLB from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $52.38.

SLB Stock Up 2.6%

Shares of SLB stock opened at $51.61 on Thursday. The firm’s fifty day moving average price is $43.73 and its two-hundred day moving average price is $38.03. SLB Limited has a 1 year low of $31.11 and a 1 year high of $51.99. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $77.17 billion, a P/E ratio of 21.78, a PEG ratio of 3.42 and a beta of 0.73.

SLB (NYSE:SLB) last announced its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, beating 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 company had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.54 billion. During the same quarter last year, the company earned $0.92 EPS. SLB’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts predict that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be given a dividend of $0.295 per share. This is a positive change 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 annualized dividend and a dividend yield of 2.3%. SLB’s payout ratio is presently 48.10%.

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.