NewEdge Wealth LLC Has $250,000 Position in SLB Limited $SLB

NewEdge Wealth LLC cut its stake in SLB Limited (NYSE:SLB) by 75.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,847 shares of the oil and gas company’s stock after selling 20,735 shares during the quarter. NewEdge Wealth LLC’s holdings in SLB were worth $250,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SLB. Howard Capital Management Inc. increased its stake in SLB by 3.2% in the third quarter. Howard Capital Management Inc. now owns 9,165 shares of the oil and gas company’s stock valued at $315,000 after purchasing an additional 288 shares in the last quarter. Fielder Capital Group LLC grew its holdings in shares of SLB by 2.5% in the 3rd quarter. Fielder Capital Group LLC now owns 12,137 shares of the oil and gas company’s stock valued at $417,000 after buying an additional 293 shares during the period. Hedges Asset Management LLC increased its position in shares of SLB by 0.9% in the 3rd quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock valued at $1,203,000 after buying an additional 300 shares in the last quarter. Gables Capital Management Inc. increased its position in shares of SLB by 31.6% in the 3rd quarter. Gables Capital Management Inc. now owns 1,250 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 300 shares in the last quarter. Finally, LRI Investments LLC raised its stake in SLB by 21.7% during the 3rd quarter. LRI Investments LLC now owns 1,785 shares of the oil and gas company’s stock worth $61,000 after buying an additional 318 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

SLB has been the subject of a number of research analyst reports. Royal Bank Of Canada boosted their target price on SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Loop Capital set a $48.00 price objective on SLB in a research report on Tuesday, January 27th. Evercore set a $54.00 target price on shares of SLB and gave the stock an “outperform” rating in a report on Tuesday, January 6th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $49.00 price target on shares of SLB in a research note on Wednesday, January 14th. Finally, Barclays increased their price objective 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. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.38.

Insider Activity

In other news, CFO Stephane Biguet sold 61,017 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 value of $3,032,544.90. Following the completion of the sale, the chief financial officer owned 155,548 shares of the company’s stock, valued at approximately $7,730,735.60. This represents a 28.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dianne B. Ralston sold 18,617 shares of the firm’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 completion of the transaction, the insider directly 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 ninety days, insiders sold 156,902 shares of company stock valued at $7,796,666. Corporate insiders own 0.22% of the company’s stock.

SLB Price Performance

NYSE SLB opened at $51.87 on Wednesday. The firm’s 50 day moving average is $45.90 and its 200-day moving average is $39.15. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $77.57 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 3.48 and a beta of 0.73. SLB Limited has a 12-month low of $31.11 and a 12-month high of $52.40.

SLB (NYSE:SLB) last released its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. SLB had a net margin of 9.45% and a return on equity of 17.45%. The business had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.54 billion. During the same quarter last year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be given a $0.295 dividend. 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 dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, February 11th. SLB’s dividend payout ratio (DPR) is presently 49.79%.

SLB Company 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.