Romano Brothers AND Company Buys 13,176 Shares of SLB Limited $SLB

Romano Brothers AND Company raised its stake in SLB Limited (NYSE:SLB) by 19.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,349 shares of the oil and gas company’s stock after purchasing an additional 13,176 shares during the quarter. Romano Brothers AND Company’s holdings in SLB were worth $2,816,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Mather Group LLC. acquired a new stake in shares of SLB in the 3rd quarter valued at approximately $136,000. Delta Investment Management LLC bought a new stake in SLB during the third quarter worth $258,000. Miracle Mile Advisors LLC raised its position in SLB by 14.1% during the third quarter. Miracle Mile Advisors LLC now owns 8,321 shares of the oil and gas company’s stock worth $286,000 after acquiring an additional 1,028 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in SLB by 4.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 985,957 shares of the oil and gas company’s stock valued at $34,597,000 after acquiring an additional 43,790 shares during the last quarter. Finally, Merit Financial Group LLC grew its position in shares of SLB by 22.5% in the 3rd quarter. Merit Financial Group LLC now owns 41,103 shares of the oil and gas company’s stock valued at $1,413,000 after acquiring an additional 7,550 shares during the period. Institutional investors own 81.99% of the company’s stock.

SLB Price Performance

Shares of NYSE SLB opened at $38.38 on Thursday. The firm has a market cap of $57.34 billion, a P/E ratio of 14.82 and a beta of 0.73. The business’s 50 day moving average is $37.15 and its 200-day moving average is $35.49. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. SLB Limited has a 1-year low of $31.11 and a 1-year high of $44.66.

SLB (NYSE:SLB) last issued its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. During the same period in the prior year, the firm posted $0.89 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities research analysts predict that SLB Limited will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Wednesday, December 3rd. SLB’s dividend payout ratio is presently 44.02%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SLB. Barclays dropped their target price on shares of SLB from $48.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, December 17th. Citigroup upped their price objective on SLB from $47.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Cowen reiterated a “buy” rating and set a $57.00 target price on shares of SLB in a research note on Thursday, December 11th. JPMorgan Chase & Co. decreased their target price on SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Finally, TD Cowen raised their price target on SLB from $56.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.42.

Insider Activity

In related news, CFO Stephane Biguet sold 38,447 shares of SLB stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $36.75, for a total value of $1,412,927.25. Following the transaction, the chief financial officer directly owned 175,690 shares of the company’s stock, valued at $6,456,607.50. This trade represents a 17.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total value of $2,261,400.00. Following the transaction, the executive vice president directly owned 159,371 shares of the company’s stock, valued at $6,006,692.99. This trade represents a 27.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 103,947 shares of company stock worth $3,871,337. 0.22% of the stock is currently owned by company insiders.

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.