Islay Capital Management LLC Raises Holdings in SLB Limited $SLB

Islay Capital Management LLC lifted its stake in SLB Limited (NYSE:SLB) by 39.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 37,944 shares of the oil and gas company’s stock after acquiring an additional 10,658 shares during the period. Islay Capital Management LLC’s holdings in SLB were worth $1,304,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Synergy Asset Management LLC raised its holdings in shares of SLB by 100.0% in the third quarter. Synergy Asset Management LLC now owns 80,830 shares of the oil and gas company’s stock worth $2,732,000 after buying an additional 40,415 shares during the last quarter. Americana Partners LLC increased its position in shares of SLB by 10.1% in the 3rd quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company’s stock valued at $8,526,000 after acquiring an additional 22,706 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in SLB by 13.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 210,056 shares of the oil and gas company’s stock worth $7,220,000 after acquiring an additional 25,417 shares during the last quarter. Nordea Investment Management AB lifted its position in SLB by 4.9% during the 3rd quarter. Nordea Investment Management AB now owns 2,157,885 shares of the oil and gas company’s stock worth $72,354,000 after acquiring an additional 100,918 shares during the period. Finally, Bank Pictet & Cie Europe AG grew its stake in SLB by 1,937.4% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company’s stock valued at $34,265,000 after purchasing an additional 948,015 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SLB shares. Piper Sandler raised their price objective on SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. JPMorgan Chase & Co. increased their price target on shares of SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. UBS Group restated a “buy” rating on shares of SLB in a research note on Tuesday, January 27th. 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 note on Monday, January 26th. Finally, Stifel Nicolaus set a $56.00 target price on shares of SLB in a report on Monday, January 26th. Three research 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 assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.96.

SLB Price Performance

NYSE:SLB opened at $47.32 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98. The firm has a market cap of $71.10 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 3.26 and a beta of 0.68. The company has a 50 day moving average price of $47.55 and a 200-day moving average price of $39.89. SLB Limited has a 1-year low of $31.11 and a 1-year 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 company had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.54 billion. During the same quarter in the previous year, the company earned $0.92 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts forecast that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be given a dividend of $0.295 per share. 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 2.5%. The ex-dividend date is Wednesday, February 11th. SLB’s dividend payout ratio (DPR) is currently 49.79%.

Insider Activity at SLB

In other news, insider Dianne B. Ralston sold 18,617 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.50, for a total transaction of $921,541.50. Following the transaction, the insider owned 224,097 shares in the company, valued at $11,092,801.50. This trade represents a 7.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Howard Guild sold 13,268 shares of the business’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $659,419.60. Following the completion of the sale, the chief accounting officer directly owned 22,407 shares of the company’s stock, valued at approximately $1,113,627.90. The trade was a 37.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 156,902 shares of company stock valued at $7,796,666 in the last ninety days. 0.22% of the stock is currently owned by company insiders.

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.