SLB Limited $SLB Shares Acquired by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP increased its stake in shares of SLB Limited (NYSE:SLB) by 25.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,661 shares of the oil and gas company’s stock after buying an additional 17,353 shares during the quarter. SLB comprises about 2.0% of Fulcrum Asset Management LLP’s holdings, making the stock its 10th largest position. Fulcrum Asset Management LLP’s holdings in SLB were worth $2,979,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Hancock Whitney Corp raised its stake in SLB by 1.6% during the 3rd quarter. Hancock Whitney Corp now owns 23,186 shares of the oil and gas company’s stock valued at $797,000 after acquiring an additional 356 shares during the last quarter. Peloton Wealth Strategists grew its stake in shares of SLB by 64.3% in the 3rd quarter. Peloton Wealth Strategists now owns 37,950 shares of the oil and gas company’s stock valued at $1,304,000 after purchasing an additional 14,850 shares during the last quarter. Keystone Financial Group increased its holdings in shares of SLB by 112.0% in the third quarter. Keystone Financial Group now owns 13,402 shares of the oil and gas company’s stock valued at $461,000 after purchasing an additional 7,079 shares during the period. Palisade Asset Management LLC acquired a new position in shares of SLB in the third quarter valued at approximately $46,000. Finally, Morningstar Investment Management LLC raised its stake in shares of SLB by 438.7% during the third quarter. Morningstar Investment Management LLC now owns 84,806 shares of the oil and gas company’s stock worth $2,915,000 after purchasing an additional 69,062 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 4,000 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $50.29, for a total transaction of $201,160.00. Following the sale, the director owned 19,525 shares of the company’s stock, valued at approximately $981,912.25. The trade was a 17.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephane Biguet sold 61,017 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $3,032,544.90. Following the transaction, the chief financial officer owned 155,548 shares in the company, valued at $7,730,735.60. The trade was a 28.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 156,902 shares of company stock valued at $7,796,666 in the last quarter. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Freedom Capital downgraded SLB from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. UBS Group reissued a “buy” rating on shares of SLB in a research note on Tuesday, January 27th. Jefferies Financial Group upped their price objective on shares of SLB from $51.00 to $58.00 and gave the stock a “buy” rating in a research report on Sunday, February 1st. 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. Finally, Wall Street Zen lowered shares of SLB from a “buy” rating to a “hold” rating in a research note on Saturday. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.16.

SLB Stock Up 2.6%

SLB stock opened at $46.13 on Wednesday. The stock’s 50 day moving average price is $48.59 and its 200 day moving average price is $40.60. SLB Limited has a 1-year low of $31.11 and a 1-year high of $52.45. The company has a market cap of $69.31 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 3.17 and a beta of 0.68. 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 (NYSE:SLB) last released its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.04. The firm had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.54 billion. SLB had a return on equity of 17.45% and a net margin of 9.45%.SLB’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 earnings per share. On average, sell-side analysts predict that SLB Limited will post 3.38 EPS for the current fiscal 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 $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.6%. This is a positive change from SLB’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, February 11th. SLB’s dividend payout ratio (DPR) is 49.79%.

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.