Stock Traders Buy High Volume of SLB Call Options (NYSE:SLB)

SLB Limited (NYSE:SLB) was the recipient of some unusual options trading on Tuesday. Stock investors purchased 404,796 call options on the stock. This represents an increase of approximately 1,173% compared to the average daily volume of 31,796 call options.

Analyst Upgrades and Downgrades

SLB has been the topic of several research analyst reports. Morgan Stanley reissued an “overweight” rating and set a $50.00 price target on shares of SLB in a research note on Wednesday, January 21st. Piper Sandler upped their price objective on SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Citigroup lifted their target price on SLB from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Bank of America boosted their target price on SLB from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, JPMorgan Chase & Co. upped their price target on SLB from $43.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.38.

SLB Stock Down 0.5%

Shares of SLB stock opened at $50.31 on Wednesday. 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 has a 12 month low of $31.11 and a 12 month high of $51.67. The business has a fifty day simple moving average of $43.44 and a 200 day simple moving average of $37.94. The stock has a market cap of $75.23 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 3.44 and a beta of 0.73.

SLB (NYSE:SLB) last released its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. The firm had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.54 billion. SLB had a return on equity of 17.45% and a net margin of 9.45%.The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Research analysts predict that SLB will post 3.38 EPS for the current year.

SLB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.3%. 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. SLB’s payout ratio is 48.10%.

Insider Buying and Selling

In related news, Director Peter John Coleman sold 5,500 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total transaction of $197,010.00. Following the transaction, the director owned 18,671 shares in the company, valued at $668,795.22. This represents a 22.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the completion of the sale, the executive vice president owned 140,602 shares of the company’s stock, valued at $6,987,919.40. The trade was a 29.91% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 200,849 shares of company stock valued at $9,406,603. Insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On SLB

Hedge funds have recently bought and sold shares of the company. Brighton Jones LLC raised its stake in SLB by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after buying an additional 1,166 shares during the period. Bison Wealth LLC bought a new stake in shares of SLB in the fourth quarter worth about $238,000. Callan Family Office LLC raised its position in shares of SLB by 112.9% during the second quarter. Callan Family Office LLC now owns 12,216 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 6,477 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in shares of SLB by 14.2% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 16,954 shares of the oil and gas company’s stock valued at $573,000 after purchasing an additional 2,113 shares in the last quarter. Finally, Moran Wealth Management LLC grew its position in shares of SLB by 28.3% in the 2nd quarter. Moran Wealth Management LLC now owns 100,826 shares of the oil and gas company’s stock valued at $3,408,000 after purchasing an additional 22,219 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.