Canoe Financial LP Makes New $45.03 Million Investment in SLB Limited $SLB

Canoe Financial LP purchased a new stake in SLB Limited (NYSE:SLB) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,138,154 shares of the oil and gas company’s stock, valued at approximately $45,032,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of SLB in the second quarter valued at about $25,000. Root Financial Partners LLC acquired a new position in shares of SLB during the 3rd quarter worth about $29,000. Corsicana & Co. acquired a new position in shares of SLB during the 3rd quarter worth about $31,000. Strengthening Families & Communities LLC purchased a new position in SLB in the 3rd quarter valued at about $31,000. Finally, SouthState Bank Corp boosted its holdings in SLB by 57.4% in the 3rd quarter. SouthState Bank Corp now owns 1,212 shares of the oil and gas company’s stock worth $42,000 after buying an additional 442 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research analyst reports. Piper Sandler lifted their price target on SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Stifel Nicolaus set a $56.00 target price on shares of SLB in a research note on Monday, January 26th. Evercore set a $54.00 target price on shares of SLB and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Barclays increased their target price on shares of SLB from $47.00 to $49.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Finally, BMO Capital Markets raised their price target on shares of SLB from $53.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $53.16.

Insiders Place Their Bets

In related news, CAO Howard Guild sold 13,268 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $659,419.60. Following the sale, the chief accounting officer owned 22,407 shares of the company’s stock, valued at $1,113,627.90. This trade represents a 37.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director La Chevardiere Patrick De sold 4,000 shares of the firm’s 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 in the company, valued at $981,912.25. The trade was a 17.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 156,902 shares of company stock worth $7,796,666. Corporate insiders own 0.16% of the company’s stock.

SLB Stock Performance

NYSE SLB opened at $53.51 on Friday. The stock has a fifty day simple moving average of $49.27 and a 200-day simple moving average of $41.33. 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 stock has a market cap of $80.39 billion, a PE ratio of 22.58, a P/E/G ratio of 3.81 and a beta of 0.68. SLB Limited has a twelve month low of $31.11 and a twelve month high of $53.70.

SLB (NYSE:SLB) last posted its earnings results 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. 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 firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 EPS. Equities analysts anticipate that SLB Limited will post 3.38 earnings per share for the current 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 $0.295 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. This is an increase from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio is 49.79%.

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.