Wealth Enhancement Advisory Services LLC Acquires 46,793 Shares of SLB Limited $SLB

Wealth Enhancement Advisory Services LLC grew its holdings in shares of SLB Limited (NYSE:SLB) by 29.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 207,267 shares of the oil and gas company’s stock after buying an additional 46,793 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in SLB were worth $7,955,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC purchased a new position in SLB during the 2nd quarter valued at $25,000. Root Financial Partners LLC purchased a new stake in shares of SLB in the 3rd quarter worth about $29,000. Corsicana & Co. purchased a new stake in shares of SLB in the 3rd quarter worth about $31,000. Strengthening Families & Communities LLC bought a new stake in shares of SLB during the 3rd quarter valued at about $31,000. Finally, SouthState Bank Corp boosted its stake in shares of SLB by 57.4% during the 3rd quarter. SouthState Bank Corp now owns 1,212 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 442 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity

In other news, insider Dianne B. Ralston sold 18,617 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.50, for a total transaction of $921,541.50. Following the transaction, the insider directly owned 224,097 shares of the company’s stock, valued at $11,092,801.50. This represents a 7.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Abdellah Merad sold 60,000 shares of the firm’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 $2,982,000.00. Following the completion of the transaction, the executive vice president owned 140,602 shares in the company, valued at approximately $6,987,919.40. This trade represents a 29.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 156,902 shares of company stock valued at $7,796,666 over the last three months. Corporate insiders own 0.16% of the company’s stock.

SLB Trading Up 2.3%

Shares of NYSE SLB opened at $53.51 on Friday. The company has a market cap of $80.39 billion, a PE ratio of 22.58, a P/E/G ratio of 3.72 and a beta of 0.68. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33. The firm’s 50 day moving average price is $49.27 and its 200-day moving average price is $41.30. SLB Limited has a 52-week low of $31.11 and a 52-week high of $53.70.

SLB (NYSE:SLB) last issued its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The business 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 revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts expect that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, February 11th. This is a boost from SLB’s previous quarterly dividend of $0.29. SLB’s payout ratio is 49.79%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Bank of America increased their price target on shares of SLB from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Loop Capital set a $48.00 target price on SLB in a report on Tuesday, January 27th. TD Cowen increased their target price on SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Royal Bank Of Canada lifted their price target on SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Finally, Evercore set a $54.00 price objective on SLB and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Three investment 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 stock. According to data from MarketBeat, SLB currently has an average rating of “Moderate Buy” and a consensus target price of $53.16.

About SLB

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.