Tejara Capital Ltd Purchases 111,059 Shares of SLB Limited $SLB

Tejara Capital Ltd boosted its position in SLB Limited (NYSE:SLB) by 400.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,759 shares of the oil and gas company’s stock after purchasing an additional 111,059 shares during the quarter. SLB comprises 2.5% of Tejara Capital Ltd’s investment portfolio, making the stock its 12th biggest position. Tejara Capital Ltd’s holdings in SLB were worth $4,769,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC purchased a new position in SLB during the second quarter worth about $25,000. Root Financial Partners LLC bought a new stake in shares of SLB during the 3rd quarter valued at about $29,000. Corsicana & Co. purchased a new position in shares of SLB during the third quarter worth about $31,000. NewSquare Capital LLC increased its position in shares of SLB by 51.4% in the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 341 shares during the last quarter. Finally, Kennebec Savings Bank increased its position in shares of SLB by 47.4% in the third quarter. Kennebec Savings Bank now owns 1,390 shares of the oil and gas company’s stock worth $48,000 after purchasing an additional 447 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $50.29, for a total value of $201,160.00. Following the transaction, the director owned 19,525 shares in the company, valued at approximately $981,912.25. This trade represents a 17.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dianne B. Ralston sold 18,617 shares of the company’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $49.50, for a total transaction of $921,541.50. Following the sale, the insider owned 224,097 shares of the company’s stock, valued at $11,092,801.50. This represents a 7.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 260,849 shares of company stock valued at $11,668,003. Corporate insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on SLB shares. Rothschild & Co Redburn began coverage on shares of SLB in a research note on Monday, November 3rd. They issued a “buy” rating and a $48.00 price target for the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $49.00 price objective on shares of SLB in a report on Wednesday, January 14th. Barclays upped their target price on shares of SLB from $47.00 to $49.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Morgan Stanley restated an “overweight” rating and set a $50.00 price target on shares of SLB in a research report on Wednesday, January 21st. Finally, TD Cowen lifted their price target on SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.92.

SLB Stock Performance

SLB stock opened at $48.38 on Friday. The firm has a fifty day simple moving average of $41.48 and a two-hundred day simple moving average of $37.15. 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 twelve month low of $31.11 and a twelve month high of $51.67. The company has a market capitalization of $72.34 billion, a PE ratio of 20.41, a P/E/G ratio of 3.30 and a beta of 0.72.

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

SLB Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from SLB’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, February 11th. SLB’s payout ratio is currently 48.10%.

SLB News Summary

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB won two contracts from Petroleum Development Oman for operations in Block?6 — a revenue and backlog positive, reinforcing international E&P service demand. SLB wins two contracts from PDO for Oman’s Block-6
• Positive Sentiment: Argus upgraded SLB, which can support near?term buying interest and lift price targets or sentiment among momentum traders. SLB (NYSE:SLB) Upgraded at Argus
• Positive Sentiment: Analyst coverage remains broadly constructive: one roundup shows a consensus around a “Moderate Buy” and discussion of Wall Street expectations — that analyst sentiment and price targets can provide support. SLB Limited (NYSE:SLB) Given Consensus Recommendation of “Moderate Buy” by Analysts Are Wall Street Analysts Predicting SLB N.V. Stock Will Climb or Sink?
• Neutral Sentiment: SLB is a “trending” stock on Zacks (high investor interest), which can boost volume and volatility but doesn’t by itself change fundamentals. SLB Limited (SLB) Is a Trending Stock
• Negative Sentiment: Insider selling reported: a transaction totaling $921,541.50 was disclosed — investors often view sizable insider sales as a near?term negative signal. Insider Selling: SLB (NYSE:SLB) Insider Sells $921,541.50 in Stock
• Negative Sentiment: Additional insider sale: SLB’s CAO sold $659,419.60 of stock, which may add selling pressure or raise governance questions for some investors. Insider Selling: SLB (NYSE:SLB) CAO Sells $659,419.60 in Stock
• Negative Sentiment: Stephane Biguet disclosed a sale of 61,017 shares — another insider disposition that investors may interpret as a negative near?term signal even if for personal/liquidity reasons. Stephane Biguet Sells 61,017 Shares of SLB (NYSE:SLB) Stock
• Negative Sentiment: Freedom Capital cut SLB to “Strong Sell” — a boutique downgrade that can pressure sentiment among retail and technical traders even if larger sell?side shops remain neutral/positive. SLB (NYSE:SLB) Cut to Strong Sell at Freedom Capital

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.