SLB Limited $SLB Position Increased by Pacifica Partners Inc.

Pacifica Partners Inc. boosted its stake in shares of SLB Limited (NYSE:SLB) by 14.7% in the fourth quarter, HoldingsChannel reports. The firm owned 99,373 shares of the oil and gas company’s stock after purchasing an additional 12,715 shares during the quarter. SLB makes up approximately 1.8% of Pacifica Partners Inc.’s holdings, making the stock its 20th largest holding. Pacifica Partners Inc.’s holdings in SLB were worth $3,995,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC bought a new stake in SLB in the second quarter valued at $25,000. Root Financial Partners LLC bought a new position in shares of SLB during the third quarter worth about $29,000. Corsicana & Co. bought a new position in shares of SLB during the third quarter worth about $31,000. Strengthening Families & Communities LLC acquired a new stake in shares of SLB in the 3rd quarter worth about $31,000. Finally, SouthState Bank Corp increased its holdings in shares of SLB by 57.4% in the 3rd quarter. SouthState Bank Corp now owns 1,212 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 442 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Susquehanna boosted their target price on shares of SLB from $52.00 to $58.00 and gave the company a “positive” rating in a research note on Monday, January 26th. BMO Capital Markets raised their price target on shares of SLB from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Argus raised SLB to a “strong-buy” rating in a report on Monday, January 26th. UBS Group reiterated a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. Finally, Citigroup increased their price objective on SLB from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, SLB has a consensus rating of “Moderate Buy” and an average target price of $53.16.

SLB Stock Down 2.5%

SLB stock opened at $46.61 on Monday. SLB Limited has a 52 week low of $31.11 and a 52 week high of $52.45. The stock has a market cap of $70.03 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 3.32 and a beta of 0.68. The company’s 50-day moving average price is $48.74 and its two-hundred day moving average price is $40.82. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36.

SLB (NYSE:SLB) last issued its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. SLB had a net margin of 9.45% and a return on equity of 17.45%. The company had revenue of $9.75 billion during the quarter, compared to analyst estimates of $9.54 billion. During the same period in the prior year, the business posted $0.92 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, analysts expect that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, February 11th. This is an increase from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio is 49.79%.

Insider Activity at SLB

In other news, CAO Howard Guild sold 13,268 shares of the business’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $659,419.60. Following the sale, the chief accounting officer owned 22,407 shares of the company’s stock, valued at approximately $1,113,627.90. The trade was a 37.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephane Biguet sold 61,017 shares of the company’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $3,032,544.90. Following the completion of the sale, the chief financial officer owned 155,548 shares of the company’s stock, valued at approximately $7,730,735.60. This trade represents a 28.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 156,902 shares of company stock worth $7,796,666 in the last quarter. Company insiders own 0.16% of the company’s stock.

SLB 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.