SLB Limited $SLB Stock: Soltis Investment Advisors LLC Boosts Position

Soltis Investment Advisors LLC grew its holdings in SLB Limited (NYSE:SLB) by 7.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 175,315 shares of the oil and gas company’s stock after buying an additional 11,991 shares during the period. Soltis Investment Advisors LLC’s holdings in SLB were worth $8,541,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Abel Hall LLC raised its holdings in SLB by 2.7% in the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock valued at $387,000 after buying an additional 198 shares during the period. E Fund Management Co. Ltd. lifted its position in SLB by 3.6% in the second quarter. E Fund Management Co. Ltd. now owns 5,712 shares of the oil and gas company’s stock valued at $266,000 after buying an additional 199 shares during the last quarter. TOWER TRUST & INVESTMENT Co boosted its stake in SLB by 1.2% during the third quarter. TOWER TRUST & INVESTMENT Co now owns 18,696 shares of the oil and gas company’s stock worth $911,000 after buying an additional 230 shares during the period. Cypress Capital Group boosted its stake in SLB by 1.9% during the first quarter. Cypress Capital Group now owns 12,308 shares of the oil and gas company’s stock worth $633,000 after buying an additional 234 shares during the period. Finally, Palisade Capital Management LP boosted its stake in SLB by 4.1% during the second quarter. Palisade Capital Management LP now owns 5,939 shares of the oil and gas company’s stock worth $276,000 after buying an additional 234 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Stock Performance

Shares of SLB stock opened at $53.87 on Friday. The business has a 50-day moving average of $52.50 and a 200 day moving average of $51.32. SLB Limited has a 12 month low of $34.65 and a 12 month high of $60.46. The stock has a market capitalization of $79.95 billion, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of 2.95 and a beta of 0.83. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.39 and a quick ratio of 1.02.

SLB (NYSE:SLB) last released its earnings results on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The company had revenue of $9.45 billion during the quarter, compared to the consensus estimate of $9.27 billion. SLB had a return on equity of 13.77% and a net margin of 8.40%. SLB’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 EPS. As a group, sell-side analysts forecast that SLB Limited will post 2.48 earnings per share for the current year.

SLB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Wednesday, December 2nd will be paid a $0.2950 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. SLB’s dividend payout ratio (DPR) is presently 57.28%.

Insider Buying and Selling at SLB

In related news, CAO Howard Guild sold 10,047 shares of SLB stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $53.65, for a total value of $539,021.55. Following the completion of the transaction, the chief accounting officer owned 12,845 shares in the company, valued at approximately $689,134.25. The trade was a 43.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the subject of a number of recent analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $66.00 price target (up from $65.00) on shares of SLB in a research report on Sunday, July 26th. The Goldman Sachs Group decreased their price objective on shares of SLB from $63.00 to $62.00 in a report on Tuesday, July 7th. Raymond James Financial lowered their price objective on shares of SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Barclays lowered their price objective on shares of SLB from $66.00 to $63.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Freedom Broker upgraded shares of SLB from a “sell” rating to a “hold” rating and set a $48.00 target price for the company in a report on Monday. Twenty-four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.52.

SLB Profile

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.