Dynamic Technology Lab Private Ltd Acquires Shares of 60,129 SLB Limited $SLB

Dynamic Technology Lab Private Ltd acquired a new stake in shares of SLB Limited (NYSE:SLB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 60,129 shares of the oil and gas company’s stock, valued at approximately $2,067,000.

Other institutional investors also recently modified their holdings of the company. Howard Capital Management Inc. increased its stake in SLB by 3.2% during the third quarter. Howard Capital Management Inc. now owns 9,165 shares of the oil and gas company’s stock worth $315,000 after acquiring an additional 288 shares during the last quarter. Fielder Capital Group LLC lifted its stake in shares of SLB by 2.5% in the 3rd quarter. Fielder Capital Group LLC now owns 12,137 shares of the oil and gas company’s stock valued at $417,000 after purchasing an additional 293 shares during the last quarter. Hedges Asset Management LLC boosted its holdings in shares of SLB by 0.9% in the 3rd quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock worth $1,203,000 after purchasing an additional 300 shares during the period. Gables Capital Management Inc. boosted its holdings in shares of SLB by 31.6% in the 3rd quarter. Gables Capital Management Inc. now owns 1,250 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 300 shares during the period. Finally, LRI Investments LLC increased its position in shares of SLB by 21.7% during the 3rd quarter. LRI Investments LLC now owns 1,785 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 318 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Howard Guild sold 13,268 shares of SLB stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $659,419.60. Following the completion of the sale, the chief accounting officer owned 22,407 shares of the company’s stock, valued at approximately $1,113,627.90. The trade was a 37.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dianne B. Ralston sold 18,617 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.50, for a total value of $921,541.50. Following the completion of the sale, the insider owned 224,097 shares of the company’s stock, valued at $11,092,801.50. The trade was a 7.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 156,902 shares of company stock worth $7,796,666 over the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of analyst reports. Sanford C. Bernstein raised their price target on SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. Loop Capital set a $48.00 price objective on shares of SLB in a research report on Tuesday, January 27th. Morgan Stanley reissued an “overweight” rating and issued a $50.00 target price on shares of SLB in a research note on Wednesday, January 21st. Bank of America lifted their price target on shares of SLB from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, The Goldman Sachs Group upped their price target on shares of SLB from $53.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.96.

SLB Stock Performance

SLB stock opened at $46.86 on Friday. SLB Limited has a twelve month low of $31.11 and a twelve month high of $52.45. The firm has a market cap of $70.41 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 3.19 and a beta of 0.68. The business’s fifty day simple moving average is $47.73 and its two-hundred day simple moving average is $40.03. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36.

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

SLB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be given a $0.295 dividend. 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 yield of 2.5%. SLB’s dividend payout ratio is presently 49.79%.

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.