Lyell Wealth Management LP Reduces Stake in SLB Limited $SLB

Lyell Wealth Management LP cut its position in shares of SLB Limited (NYSE:SLB) by 14.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 65,414 shares of the oil and gas company’s stock after selling 10,952 shares during the quarter. Lyell Wealth Management LP’s holdings in SLB were worth $2,248,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Brighton Jones LLC grew its position in shares of SLB by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 1,166 shares during the last quarter. Bison Wealth LLC purchased a new position in SLB during the fourth quarter worth $238,000. Concurrent Investment Advisors LLC raised its holdings in shares of SLB by 14.2% in the second quarter. Concurrent Investment Advisors LLC now owns 16,954 shares of the oil and gas company’s stock worth $573,000 after acquiring an additional 2,113 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in shares of SLB by 25.9% in the second quarter. Axxcess Wealth Management LLC now owns 24,555 shares of the oil and gas company’s stock valued at $830,000 after acquiring an additional 5,058 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its position in shares of SLB by 27.2% in the second quarter. Ritholtz Wealth Management now owns 36,350 shares of the oil and gas company’s stock valued at $1,229,000 after acquiring an additional 7,766 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Stock Down 0.5%

Shares of SLB opened at $50.37 on Friday. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $52.40. The company’s fifty day moving average is $44.22 and its two-hundred day moving average is $38.22. The firm has a market cap of $75.33 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 3.44 and a beta of 0.73. 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 (NYSE:SLB) last released 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 return on equity of 17.45% and a net margin of 9.45%.The company had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.54 billion. During the same period last year, the business posted $0.92 EPS. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Analysts forecast that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be given a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This is a positive change from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 2.3%. SLB’s dividend payout ratio (DPR) is currently 49.79%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Argus raised shares of SLB to a “strong-buy” rating in a research note on Monday, January 26th. Citigroup raised their price target on shares of SLB from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. The Goldman Sachs Group reiterated a “buy” rating and set a $49.00 price target on shares of SLB in a report on Wednesday, January 14th. Rothschild & Co Redburn set a $48.00 price objective on shares of SLB in a research note on Monday, November 3rd. Finally, Freedom Capital cut shares of SLB from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, SLB currently has an average rating of “Moderate Buy” and an average price target of $52.38.

Insider Buying and Selling at SLB

In other news, Director La Chevardiere Patrick De sold 4,000 shares of SLB stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $50.29, for a total transaction of $201,160.00. Following the sale, the director directly owned 19,525 shares of the company’s stock, valued at approximately $981,912.25. The trade was a 17.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dianne B. Ralston sold 18,617 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.50, for a total value of $921,541.50. Following the sale, the insider owned 224,097 shares of the company’s stock, valued at approximately $11,092,801.50. This trade represents a 7.67% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 162,402 shares of company stock worth $7,993,676. 0.22% of the stock is currently owned by insiders.

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.