Inspire Trust Co. N.A. Raises Holdings in SLB Limited $SLB

Inspire Trust Co. N.A. increased its stake in shares of SLB Limited (NYSE:SLB) by 13.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 152,500 shares of the oil and gas company’s stock after purchasing an additional 17,500 shares during the period. Inspire Trust Co. N.A.’s holdings in SLB were worth $5,853,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Ballentine Partners LLC lifted its holdings in SLB by 2.2% during the 4th quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock worth $395,000 after purchasing an additional 218 shares in the last quarter. Rothschild Investment LLC lifted its holdings in SLB by 4.4% during the 4th quarter. Rothschild Investment LLC now owns 5,540 shares of the oil and gas company’s stock worth $213,000 after purchasing an additional 236 shares in the last quarter. Foster Victor Wealth Advisors LLC lifted its holdings in SLB by 3.0% during the 4th quarter. Foster Victor Wealth Advisors LLC now owns 8,281 shares of the oil and gas company’s stock worth $318,000 after purchasing an additional 238 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in SLB by 10.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,641 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 240 shares in the last quarter. Finally, Independent Advisor Alliance lifted its holdings in SLB by 1.9% during the 4th quarter. Independent Advisor Alliance now owns 13,402 shares of the oil and gas company’s stock worth $514,000 after purchasing an additional 247 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Price Performance

Shares of NYSE SLB opened at $55.12 on Friday. The firm has a market capitalization of $82.41 billion, a P/E ratio of 24.07, a P/E/G ratio of 2.29 and a beta of 0.72. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The stock’s 50-day simple moving average is $53.34 and its two-hundred day simple moving average is $47.07. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82.

SLB (NYSE:SLB) last announced its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 EPS. As a group, equities analysts anticipate that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio is currently 51.53%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Susquehanna increased their price objective on SLB from $60.00 to $65.00 and gave the stock a “positive” rating in a report on Monday, April 27th. TD Cowen increased their price objective on SLB from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Sanford C. Bernstein increased their price objective on SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Morgan Stanley set a $57.00 price objective on SLB in a report on Monday, April 27th. Finally, Weiss Ratings cut SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Three equities research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.74.

Insider Transactions at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the transaction, the director directly owned 16,953 shares in the company, valued at $921,056.49. This represents a 10.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the transaction, the executive vice president owned 47,421 shares in the company, valued at $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by corporate insiders.

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.