16,096 Shares in SLB Limited $SLB Bought by Michels Family Financial LLC

Michels Family Financial LLC purchased a new stake in SLB Limited (NYSE:SLB) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 16,096 shares of the oil and gas company’s stock, valued at approximately $553,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Howard Capital Management Inc. lifted its holdings in shares of SLB by 3.2% in the 3rd quarter. Howard Capital Management Inc. now owns 9,165 shares of the oil and gas company’s stock valued at $315,000 after buying an additional 288 shares during the period. Fielder Capital Group LLC raised its position in SLB by 2.5% during the third quarter. Fielder Capital Group LLC now owns 12,137 shares of the oil and gas company’s stock valued at $417,000 after acquiring an additional 293 shares in the last quarter. Hedges Asset Management LLC lifted its holdings in SLB by 0.9% in the third quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock valued at $1,203,000 after acquiring an additional 300 shares during the period. Gables Capital Management Inc. boosted its position in SLB by 31.6% in the 3rd quarter. Gables Capital Management Inc. now owns 1,250 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 300 shares in the last quarter. Finally, LRI Investments LLC grew its stake in shares of SLB by 21.7% during the 3rd quarter. LRI Investments LLC now owns 1,785 shares of the oil and gas company’s stock worth $61,000 after purchasing an additional 318 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Stock Down 1.4%

SLB stock opened at $50.82 on Friday. SLB Limited has a 52 week low of $31.11 and a 52 week high of $52.40. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. The firm has a 50-day simple moving average of $45.37 and a 200-day simple moving average of $38.84. The stock has a market capitalization of $75.99 billion, a P/E ratio of 21.44, a P/E/G ratio of 3.46 and a beta of 0.73.

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, beating 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 firm had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.54 billion. During the same period last year, the company posted $0.92 EPS. SLB’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities analysts forecast that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be paid a $0.295 dividend. This is a boost from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, February 11th. SLB’s dividend payout ratio is presently 49.79%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada boosted their target price on shares of SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Freedom Capital downgraded shares of SLB from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. JPMorgan Chase & Co. increased their target price on shares of SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Morgan Stanley restated an “overweight” rating and set a $50.00 target price on shares of SLB in a research report on Wednesday, January 21st. Finally, Jefferies Financial Group upped their price target on SLB from $51.00 to $58.00 and gave the stock a “buy” rating in a report on Sunday, February 1st. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and an average price target of $52.38.

Insider Activity

In other news, CFO Stephane Biguet sold 61,017 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 value of $3,032,544.90. Following the transaction, the chief financial officer directly 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Howard Guild sold 13,268 shares of the company’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 $659,419.60. Following the sale, the chief accounting officer directly owned 22,407 shares of the company’s stock, valued at approximately $1,113,627.90. This represents a 37.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 162,402 shares of company stock valued at $7,993,676 in the last three months. Company insiders own 0.22% 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.