SVB Wealth LLC Takes Position in SLB Limited $SLB

SVB Wealth LLC bought a new position in shares of SLB Limited (NYSE:SLB) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 61,503 shares of the oil and gas company’s stock, valued at approximately $2,079,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SLB. L2 Asset Management LLC raised its stake in SLB by 401.5% in the 2nd quarter. L2 Asset Management LLC now owns 29,893 shares of the oil and gas company’s stock worth $1,010,000 after purchasing an additional 23,932 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of SLB by 6.8% in the second quarter. California Public Employees Retirement System now owns 2,746,289 shares of the oil and gas company’s stock valued at $92,825,000 after buying an additional 173,827 shares during the period. Cary Street Partners Financial LLC grew its position in SLB by 22.2% during the second quarter. Cary Street Partners Financial LLC now owns 108,315 shares of the oil and gas company’s stock worth $3,661,000 after buying an additional 19,676 shares in the last quarter. Cooper Creek Partners Management LLC bought a new position in SLB during the 2nd quarter worth $29,356,000. Finally, Morton Community Bank raised its holdings in SLB by 11.3% in the 2nd quarter. Morton Community Bank now owns 70,950 shares of the oil and gas company’s stock valued at $2,398,000 after acquiring an additional 7,175 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In other news, CFO Stephane Biguet sold 38,447 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $36.75, for a total value of $1,412,927.25. Following the transaction, the chief financial officer directly owned 175,690 shares of the company’s stock, valued at $6,456,607.50. The trade was a 17.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the transaction, the insider owned 202,201 shares in the company, valued at $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 143,674 shares of company stock worth $5,304,687. 0.22% of the stock is owned by insiders.

SLB Stock Performance

SLB stock opened at $38.22 on Tuesday. The business has a 50 day moving average of $35.47 and a 200-day moving average of $34.98. The company has a market capitalization of $57.10 billion, a P/E ratio of 14.76 and a beta of 0.73. SLB Limited has a 1 year low of $31.11 and a 1 year high of $44.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01.

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

SLB Dividend Announcement

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

Analyst Ratings Changes

SLB has been the topic of a number of recent analyst reports. Rothschild & Co Redburn began coverage on SLB in a research report on Monday, November 3rd. They issued a “buy” rating and a $48.00 price target on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of SLB in a research note on Wednesday, October 8th. Melius assumed coverage on SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 target price on the stock. Citigroup lifted their target price on SLB from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Finally, Rothschild Redb raised shares of SLB to a “strong-buy” rating in a report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, SLB has an average rating of “Moderate Buy” and an average price target of $51.28.

SLB Company 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.