Pekin Hardy Strauss Inc. Raises Position in SLB Limited $SLB

Pekin Hardy Strauss Inc. increased its position in shares of SLB Limited (NYSE:SLB) by 859.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,124 shares of the oil and gas company’s stock after purchasing an additional 155,071 shares during the period. Pekin Hardy Strauss Inc.’s holdings in SLB were worth $5,950,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Howard Capital Management Inc. lifted its holdings in shares of SLB by 3.2% in the 3rd quarter. Howard Capital Management Inc. now owns 9,165 shares of the oil and gas company’s stock valued at $315,000 after buying an additional 288 shares during the period. Fielder Capital Group LLC boosted its position in shares of SLB by 2.5% during the 3rd quarter. Fielder Capital Group LLC now owns 12,137 shares of the oil and gas company’s stock worth $417,000 after purchasing an additional 293 shares in the last quarter. Hedges Asset Management LLC grew its stake in shares of SLB by 0.9% during the 3rd quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock worth $1,203,000 after purchasing an additional 300 shares during the period. Gables Capital Management Inc. grew its stake in shares of SLB by 31.6% during the 3rd quarter. Gables Capital Management Inc. now owns 1,250 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 300 shares during the period. Finally, LRI Investments LLC lifted its stake in shares of SLB by 21.7% in the third quarter. LRI Investments LLC now owns 1,785 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 318 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on SLB. UBS Group restated a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. Argus upgraded SLB to a “strong-buy” rating in a report on Monday, January 26th. Sanford C. Bernstein raised their price objective on SLB from $47.60 to $52.30 and gave the company an “outperform” rating in a research note on Thursday, December 11th. Royal Bank Of Canada lifted their price objective on SLB from $51.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Finally, Piper Sandler upped their target price on SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given 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 has an average rating of “Moderate Buy” and a consensus target price of $52.38.

Insider Transactions at SLB

In other SLB news, insider Dianne B. Ralston sold 18,617 shares of the business’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.50, for a total value of $921,541.50. Following the completion of the transaction, the insider directly 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 legal filing with the SEC, which is accessible through this link. Also, Director La Chevardiere Patrick De sold 4,000 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $50.29, for a total value of $201,160.00. Following the sale, the director owned 19,525 shares in the company, valued at $981,912.25. This trade represents a 17.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 162,402 shares of company stock worth $7,993,676 in the last three months. 0.22% of the stock is currently owned by company insiders.

SLB Stock Down 0.1%

SLB opened at $51.54 on Friday. The firm has a market cap of $77.07 billion, a P/E ratio of 21.75, a PEG ratio of 3.51 and a beta of 0.73. The business’s fifty day simple moving average is $45.15 and its 200 day simple moving average is $38.68. SLB Limited has a 52 week low of $31.11 and a 52 week high of $52.40. 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 (NYSE:SLB) last released its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) 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 company had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.54 billion. During the same period in the prior year, the firm earned $0.92 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts anticipate that SLB Limited will post 3.38 EPS for the current fiscal 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 given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.3%. This is an increase 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%.

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.