Kingsview Wealth Management LLC Purchases 19,190 Shares of SLB Limited $SLB

Kingsview Wealth Management LLC lifted its holdings in SLB Limited (NYSE:SLB) by 20.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 113,287 shares of the oil and gas company’s stock after acquiring an additional 19,190 shares during the quarter. Kingsview Wealth Management LLC’s holdings in SLB were worth $3,894,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Ballast Advisors LLC increased its position in shares of SLB by 5.1% during the third quarter. Ballast Advisors LLC now owns 81,072 shares of the oil and gas company’s stock valued at $2,786,000 after acquiring an additional 3,961 shares during the last quarter. Lathrop Investment Management Co. grew its stake in SLB by 0.7% in the 3rd quarter. Lathrop Investment Management Co. now owns 187,244 shares of the oil and gas company’s stock valued at $6,436,000 after purchasing an additional 1,358 shares during the period. Journey Strategic Wealth LLC increased its position in shares of SLB by 14.6% during the 3rd quarter. Journey Strategic Wealth LLC now owns 15,701 shares of the oil and gas company’s stock valued at $540,000 after purchasing an additional 2,001 shares during the last quarter. Bahl & Gaynor Inc. bought a new stake in shares of SLB during the 3rd quarter worth $265,000. Finally, Aprio Wealth Management LLC raised its stake in shares of SLB by 10.6% during the 3rd quarter. Aprio Wealth Management LLC now owns 8,045 shares of the oil and gas company’s stock worth $277,000 after purchasing an additional 774 shares during the period. 81.99% of the stock is owned by institutional investors.

SLB Stock Performance

NYSE SLB opened at $48.55 on Wednesday. The firm has a market cap of $72.95 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 3.49 and a beta of 0.68. 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’s 50 day moving average is $47.16 and its 200-day moving average is $39.78. SLB Limited has a 12-month low of $31.11 and a 12-month high of $52.45.

SLB (NYSE:SLB) last released its quarterly earnings data 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 analyst estimates of $9.54 billion. During the same period in the previous year, the business earned $0.92 EPS. SLB’s revenue was up 5.0% compared to the same quarter last year. Sell-side analysts predict that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors 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%. The ex-dividend date is Wednesday, February 11th. This is a positive change from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio is presently 49.79%.

Insider Activity at SLB

In other news, insider Dianne B. Ralston sold 18,617 shares of the company’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 sale, the insider directly owned 224,097 shares in the company, valued at $11,092,801.50. This represents a 7.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Howard Guild sold 13,268 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $659,419.60. Following the completion of the transaction, the chief accounting officer owned 22,407 shares of the company’s stock, valued at $1,113,627.90. This trade represents a 37.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 156,902 shares of company stock worth $7,796,666 in the last 90 days. 0.22% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on SLB shares. The Goldman Sachs Group restated a “buy” rating and set a $49.00 price target on shares of SLB in a research report on Wednesday, January 14th. Bank of America boosted their target price on shares of SLB from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, January 26th. JPMorgan Chase & Co. raised their price target on shares of SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Sanford C. Bernstein lifted their price target on shares of SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a report on Thursday, December 11th. Finally, Stifel Nicolaus set a $56.00 price objective on SLB in a research note on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, 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.