Pallas Capital Advisors LLC Acquires Shares of 17,538 SLB Limited $SLB

Pallas Capital Advisors LLC acquired a new stake in SLB Limited (NYSE:SLB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,538 shares of the oil and gas company’s stock, valued at approximately $673,000.

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

Insider Activity

In other news, Director La Chevardiere Patrick De sold 4,000 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $50.29, for a total transaction of $201,160.00. Following the transaction, the director owned 19,525 shares in the company, valued at $981,912.25. This trade represents a 17.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Stephane Biguet sold 61,017 shares of SLB stock in a transaction on Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $3,032,544.90. Following the completion of the sale, the chief financial officer directly owned 155,548 shares in the company, valued at $7,730,735.60. This represents a 28.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 156,902 shares of company stock worth $7,796,666. Insiders own 0.16% of the company’s stock.

SLB Price Performance

NYSE:SLB opened at $51.47 on Tuesday. 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 Limited has a 52 week low of $31.11 and a 52 week high of $54.80. The stock’s 50-day moving average price is $49.36 and its 200-day moving average price is $41.48. The stock has a market capitalization of $77.34 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 3.81 and a beta of 0.68.

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

SLB Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SLB. JPMorgan Chase & Co. upped their target price on SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Loop Capital set a $48.00 price target on SLB in a report on Tuesday, January 27th. Citigroup upped their price objective on SLB from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Piper Sandler raised their price objective on shares of SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 target price on shares of SLB in a report on Wednesday, January 21st. 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 has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

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.