Guinness Asset Management LTD Has $6.76 Million Stock Position in SLB Limited $SLB

Guinness Asset Management LTD lifted its position in SLB Limited (NYSE:SLB) by 8.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 178,287 shares of the oil and gas company’s stock after purchasing an additional 14,489 shares during the period. Guinness Asset Management LTD’s holdings in SLB were worth $6,757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SLB. Root Financial Partners LLC acquired a new stake in shares of SLB in the third quarter worth $29,000. Strategic Wealth Advisors LLC acquired a new stake in shares of SLB in the fourth quarter worth $30,000. Strengthening Families & Communities LLC acquired a new stake in shares of SLB in the third quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SLB in the fourth quarter worth $31,000. Finally, Steph & Co. lifted its stake in shares of SLB by 97.5% in the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after buying an additional 394 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SLB

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

SLB Trading Up 0.0%

Shares of SLB stock opened at $57.27 on Friday. The firm has a market capitalization of $85.63 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 2.32 and a beta of 0.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The company’s fifty day moving average price is $52.40 and its two-hundred day moving average price is $46.43. SLB Limited has a 52-week low of $31.64 and a 52-week high of $57.88.

SLB (NYSE:SLB) last announced its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 EPS. On average, analysts expect that SLB Limited will post 2.61 EPS for the current year.

SLB Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SLB shares. BMO Capital Markets boosted their price objective on shares of SLB from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Barclays boosted their price objective on shares of SLB from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Evercore restated an “outperform” rating and issued a $64.00 price objective on shares of SLB in a research note on Monday, April 27th. TD Cowen boosted their price objective on shares of SLB from $55.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Finally, Susquehanna boosted their price objective on shares of SLB from $60.00 to $65.00 and gave the stock a “positive” rating in a research note on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, SLB presently has an average rating of “Moderate Buy” and a consensus price target of $59.74.

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.