S&CO Inc. Boosts Stock Position in SLB Limited $SLB

S&CO Inc. raised its stake in SLB Limited (NYSE:SLB) by 35.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,110 shares of the oil and gas company’s stock after purchasing an additional 2,360 shares during the quarter. S&CO Inc.’s holdings in SLB were worth $307,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Brighton Jones LLC increased its stake in SLB by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after buying an additional 1,166 shares during the period. Bison Wealth LLC purchased a new stake in shares of SLB in the fourth quarter valued at about $238,000. Allworth Financial LP boosted its holdings in shares of SLB by 192.4% in the first quarter. Allworth Financial LP now owns 22,558 shares of the oil and gas company’s stock valued at $943,000 after acquiring an additional 14,842 shares in the last quarter. Alps Advisors Inc. acquired a new position in shares of SLB during the first quarter worth about $362,000. Finally, Cerity Partners LLC raised its holdings in SLB by 31.1% during the first quarter. Cerity Partners LLC now owns 404,282 shares of the oil and gas company’s stock worth $16,899,000 after purchasing an additional 95,810 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Trading Up 0.8%

NYSE:SLB opened at $36.65 on Monday. SLB Limited has a 52-week low of $31.11 and a 52-week high of $44.97. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. The stock has a fifty day simple moving average of $34.95 and a 200-day simple moving average of $34.69. The company has a market capitalization of $54.75 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 10.19 and a beta of 0.97.

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

SLB Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio (DPR) is 44.02%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SLB shares. Susquehanna dropped their target price on SLB from $44.00 to $42.00 and set a “positive” rating on the stock in a research report on Monday, July 21st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SLB in a report on Wednesday, October 8th. Melius began coverage on SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 target price for the company. Zacks Research upgraded shares of SLB from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Piper Sandler set a $42.00 price target on shares of SLB and gave the stock an “overweight” rating in a research note on Monday, October 20th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.28.

Insider Activity

In related news, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. The trade was a 16.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.22% of the stock is owned by corporate insiders.

SLB Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.