Gamco Investors INC. ET AL Acquires 27,941 Shares of SLB Limited $SLB

Gamco Investors INC. ET AL raised its stake in shares of SLB Limited (NYSE:SLB) by 14.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 217,150 shares of the oil and gas company’s stock after purchasing an additional 27,941 shares during the quarter. Gamco Investors INC. ET AL’s holdings in SLB were worth $7,463,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Twin Peaks Wealth Advisors LLC acquired a new stake in SLB in the 2nd quarter valued at $25,000. Root Financial Partners LLC acquired a new position in SLB during the third quarter worth $29,000. Corsicana & Co. acquired a new position in SLB during the third quarter worth $31,000. Strengthening Families & Communities LLC bought a new position in shares of SLB during the third quarter valued at $31,000. Finally, SouthState Bank Corp boosted its stake in shares of SLB by 57.4% in the 3rd quarter. SouthState Bank Corp now owns 1,212 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 442 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Stock Performance

SLB stock opened at $46.86 on Monday. The stock has a 50-day simple moving average of $47.73 and a 200 day simple moving average of $40.07. The stock has a market capitalization of $70.41 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 3.19 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. SLB Limited has a 12-month low of $31.11 and a 12-month high of $52.45.

SLB (NYSE:SLB) last issued its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, topping 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 firm had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.54 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. The company’s revenue was up 5.0% on a year-over-year basis. On average, 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 declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be issued 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 2.5%. The ex-dividend date of this dividend is Wednesday, February 11th. SLB’s dividend payout ratio (DPR) is 49.79%.

Insider Transactions at SLB

In other news, 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 owned 22,407 shares in the company, valued at $1,113,627.90. The trade was a 37.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director La Chevardiere Patrick De sold 4,000 shares of the company’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $50.29, for a total value of $201,160.00. Following the transaction, the director directly 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 have sold a total of 156,902 shares of company stock worth $7,796,666 over the last ninety days. 0.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SLB has been the topic of several analyst reports. Argus raised shares of SLB to a “strong-buy” rating in a report on Monday, January 26th. TD Cowen boosted their price target on shares of SLB from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 price objective on shares of SLB in a research note on Wednesday, January 21st. Bank of America raised their price objective on shares of SLB from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Jefferies Financial Group lifted their target price on shares of SLB from $51.00 to $58.00 and gave the company a “buy” rating in a research note on Sunday, February 1st. 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.96.

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.