Narwhal Capital Management Boosts Position in SLB Limited $SLB

Narwhal Capital Management boosted its holdings in SLB Limited (NYSE:SLB) by 16.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 136,981 shares of the oil and gas company’s stock after purchasing an additional 19,424 shares during the quarter. Narwhal Capital Management’s holdings in SLB were worth $4,708,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of SLB by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after buying an additional 1,166 shares during the last quarter. Bison Wealth LLC acquired a new position in SLB in the fourth quarter valued at $238,000. Woodline Partners LP grew its holdings in shares of SLB by 39.6% during the first quarter. Woodline Partners LP now owns 118,351 shares of the oil and gas company’s stock worth $4,947,000 after purchasing an additional 33,545 shares during the last quarter. SCS Capital Management LLC acquired a new stake in shares of SLB during the first quarter worth about $398,000. Finally, Anchor Investment Management LLC lifted its holdings in shares of SLB by 60.0% in the 1st quarter. Anchor Investment Management LLC now owns 1,600 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Stock Performance

NYSE:SLB opened at $45.20 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. The firm has a market cap of $67.52 billion, a price-to-earnings ratio of 17.45 and a beta of 0.72. The firm’s fifty day moving average price is $38.05 and its 200 day moving average price is $35.83. SLB Limited has a 1-year low of $31.11 and a 1-year high of $45.24.

SLB (NYSE:SLB) last released its earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.67 by $0.02. SLB had a net margin of 10.34% and a return on equity of 18.97%. The company had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.99 billion. During the same quarter last year, the business earned $0.89 EPS. The business’s revenue was down 2.5% on a year-over-year basis. On average, sell-side analysts expect that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd were given a $0.285 dividend. The ex-dividend date was Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 2.5%. SLB’s dividend payout ratio (DPR) is presently 44.02%.

Analyst Ratings Changes

SLB has been the topic of several research analyst reports. Barclays cut their price target on SLB from $48.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Piper Sandler lifted their target price on shares of SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Rothschild & Co Redburn began coverage on shares of SLB in a research note on Monday, November 3rd. They set a “buy” rating and a $48.00 price target for the company. Sanford C. Bernstein raised their price objective on shares of SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. Finally, JPMorgan Chase & Co. reduced their target price on shares of SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.42.

Insider Buying and Selling at SLB

In related news, EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction that occurred 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 sale, the executive vice president directly owned 159,371 shares in the company, valued at $6,006,692.99. The trade was a 27.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter John Coleman sold 5,500 shares of the stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $35.82, for a total value of $197,010.00. Following the completion of the transaction, the director owned 18,671 shares of the company’s stock, valued at $668,795.22. The trade was a 22.75% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 103,947 shares of company stock valued at $3,871,337. 0.22% of the stock is owned by corporate insiders.

SLB 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.