Colrain Capital LLC Buys 47,500 Shares of SLB Limited $SLB

Colrain Capital LLC boosted its stake in SLB Limited (NYSE:SLB) by 42.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 159,500 shares of the oil and gas company’s stock after acquiring an additional 47,500 shares during the period. SLB accounts for about 3.1% of Colrain Capital LLC’s holdings, making the stock its 17th biggest position. Colrain Capital LLC’s holdings in SLB were worth $5,527,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of SLB. Twin Peaks Wealth Advisors LLC bought a new stake in shares of SLB in the 2nd quarter worth approximately $25,000. Root Financial Partners LLC purchased a new stake in SLB in the third quarter worth $29,000. Corsicana & Co. purchased a new stake in SLB in the third quarter worth $31,000. Strengthening Families & Communities LLC purchased a new position in shares of SLB during the 3rd quarter valued at $31,000. Finally, NewSquare Capital LLC lifted its position in shares of SLB by 51.4% during the 2nd quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 341 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

SLB Stock Performance

SLB stock opened at $50.37 on Tuesday. SLB Limited has a 1-year low of $31.11 and a 1-year high of $52.40. 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 $75.33 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 3.43 and a beta of 0.72. The firm’s 50 day simple moving average is $44.46 and its 200 day simple moving average is $38.38.

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

SLB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be paid a $0.295 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $1.18 dividend on an annualized basis and a yield of 2.3%. This is an increase from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio is currently 49.79%.

Insider Transactions at SLB

In other news, Director La Chevardiere Patrick De sold 4,000 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $50.29, for a total transaction of $201,160.00. Following the completion of the transaction, the director owned 19,525 shares of the company’s stock, valued at approximately $981,912.25. The trade was a 17.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the company’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 $2,982,000.00. Following the completion of the transaction, the executive vice president owned 140,602 shares in the company, 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. Over the last quarter, insiders have sold 162,402 shares of company stock worth $7,993,676. 0.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SLB. Loop Capital set a $48.00 price objective on SLB in a research note on Tuesday, January 27th. Piper Sandler boosted their price target on shares of SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Argus raised shares of SLB to a “strong-buy” rating in a report on Monday, January 26th. UBS Group reissued a “buy” rating on shares of SLB in a report on Tuesday, January 27th. Finally, Rothschild & Co Redburn set a $48.00 target price on SLB in a research report on Monday, November 3rd. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.