SLB Limited $SLB Shares Bought by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. raised its position in SLB Limited (NYSE:SLB) by 11.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 121,102 shares of the oil and gas company’s stock after purchasing an additional 12,773 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in SLB were worth $4,162,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Twin Peaks Wealth Advisors LLC purchased a new position in SLB during the 2nd quarter valued at about $25,000. Root Financial Partners LLC acquired a new stake in shares of SLB in the third quarter valued at approximately $29,000. Corsicana & Co. purchased a new position in shares of SLB during the 3rd quarter worth approximately $31,000. Strengthening Families & Communities LLC purchased a new position in shares of SLB during the 3rd quarter worth approximately $31,000. Finally, NewSquare Capital LLC raised its position in shares of SLB by 51.4% during the 2nd 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. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In other news, insider Dianne B. Ralston sold 18,617 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.50, for a total transaction of $921,541.50. Following the completion of the sale, the insider owned 224,097 shares in the company, valued at approximately $11,092,801.50. The trade was a 7.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the sale, the executive vice president directly owned 140,602 shares of the company’s stock, valued at approximately $6,987,919.40. This trade represents a 29.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 260,849 shares of company stock valued at $11,668,003 in the last 90 days. 0.22% of the stock is owned by corporate insiders.

SLB Trading Up 2.5%

Shares of SLB stock opened at $50.74 on Friday. The firm’s 50-day simple moving average is $42.88 and its 200-day simple moving average is $37.71. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98. SLB Limited has a 1-year low of $31.11 and a 1-year high of $51.67. The firm has a market cap of $75.87 billion, a P/E ratio of 21.41, a PEG ratio of 3.45 and a beta of 0.73.

SLB (NYSE:SLB) last posted 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 for 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%. SLB’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 earnings per share. As a group, equities analysts forecast that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be issued a $0.295 dividend. The ex-dividend date is Wednesday, February 11th. This is an increase from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a yield of 2.3%. SLB’s payout ratio is 48.10%.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of analyst reports. Bank of America increased their target price on SLB from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 26th. UBS Group restated a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. Barclays increased their price objective on SLB from $47.00 to $49.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Rothschild & Co Redburn set a $48.00 target price on shares of SLB in a report on Monday, November 3rd. Finally, Royal Bank Of Canada lifted their price target on shares of SLB from $51.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.38.

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.