SLB Limited $SLB Shares Bought by Stockman Wealth Management Inc.

Stockman Wealth Management Inc. lifted its holdings in shares of SLB Limited (NYSE:SLB) by 6.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 281,153 shares of the oil and gas company’s stock after purchasing an additional 17,902 shares during the period. Stockman Wealth Management Inc.’s holdings in SLB were worth $9,663,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Assetmark Inc. boosted its position in shares of SLB by 19.5% during the 2nd quarter. Assetmark Inc. now owns 56,561 shares of the oil and gas company’s stock worth $1,912,000 after purchasing an additional 9,210 shares in the last quarter. Shell Asset Management Co. lifted its stake in shares of SLB by 48.1% in the second quarter. Shell Asset Management Co. now owns 62,737 shares of the oil and gas company’s stock valued at $2,121,000 after purchasing an additional 20,387 shares during the period. Godsey & Gibb Inc. boosted its holdings in SLB by 9.6% during the second quarter. Godsey & Gibb Inc. now owns 493,092 shares of the oil and gas company’s stock worth $16,667,000 after buying an additional 43,135 shares in the last quarter. Emerald Advisors LLC acquired a new position in SLB during the second quarter worth about $352,000. Finally, London & Capital Asset Management Ltd purchased a new position in SLB in the second quarter valued at about $30,542,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Stock Performance

NYSE:SLB opened at $37.78 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. The firm has a market cap of $56.43 billion, a PE ratio of 14.59 and a beta of 0.73. The firm has a 50 day simple moving average of $36.89 and a 200-day simple moving average of $35.44. SLB Limited has a 1-year low of $31.11 and a 1-year high of $44.66.

SLB (NYSE:SLB) last released its earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.67 by $0.02. The firm had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. SLB’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.89 EPS. On average, equities analysts expect that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.0%. The ex-dividend date is Wednesday, December 3rd. SLB’s dividend payout ratio is presently 44.02%.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the completion of the sale, the executive vice president owned 159,371 shares of the company’s stock, valued at approximately $6,006,692.99. This represents a 27.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter John Coleman sold 5,500 shares of SLB stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total transaction of $197,010.00. Following the transaction, the director directly owned 18,671 shares in the company, valued at approximately $668,795.22. This trade represents a 22.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 103,947 shares of company stock worth $3,871,337. 0.22% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on SLB shares. Citigroup boosted their price target on SLB from $47.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Redburn Partners set a $48.00 target price on SLB in a research report on Monday, November 3rd. Zacks Research raised SLB from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. JPMorgan Chase & Co. cut their price target on SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Finally, UBS Group increased their price objective on shares of SLB from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.42.

SLB 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.