TD Asset Management Inc Grows Holdings in SLB Limited $SLB

TD Asset Management Inc raised its position in SLB Limited (NYSE:SLB) by 17.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 614,261 shares of the oil and gas company’s stock after buying an additional 92,088 shares during the period. TD Asset Management Inc’s holdings in SLB were worth $21,112,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of SLB during the second quarter valued at approximately $25,000. Root Financial Partners LLC purchased a new stake in shares of SLB during the 3rd quarter valued at $29,000. Corsicana & Co. bought a new stake in shares of SLB during the 3rd quarter worth $31,000. Strengthening Families & Communities LLC purchased a new position in shares of SLB in the 3rd quarter worth about $31,000. Finally, NewSquare Capital LLC grew its position in SLB by 51.4% during the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 341 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the topic of several research reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $50.00 price objective on shares of SLB in a research report on Wednesday, January 21st. Stifel Nicolaus set a $56.00 price target on shares of SLB in a report on Monday, January 26th. Loop Capital set a $48.00 price objective on SLB in a report on Tuesday, January 27th. Jefferies Financial Group raised their target price on SLB from $51.00 to $58.00 and gave the stock a “buy” rating in a research report on Sunday, February 1st. Finally, TD Cowen upped their price target on SLB from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, SLB presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.38.

SLB Trading Down 0.3%

NYSE:SLB opened at $51.34 on Friday. SLB Limited has a 1 year low of $31.11 and a 1 year high of $52.40. The stock’s fifty day moving average price is $46.70 and its two-hundred day moving average price is $39.50. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98. The company has a market cap of $76.76 billion, a P/E ratio of 21.66, a P/E/G ratio of 3.49 and a beta of 0.73.

SLB (NYSE:SLB) last announced its quarterly 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 company had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.54 billion. SLB had a return on equity of 17.45% and a net margin of 9.45%.The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 earnings per share. As a group, analysts expect that SLB Limited will post 3.38 EPS for the current 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 issued a $0.295 dividend. 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. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. SLB’s payout ratio is currently 49.79%.

Insider Buying and Selling

In related news, insider Dianne B. Ralston sold 18,617 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.50, for a total transaction of $921,541.50. Following the completion of the transaction, the insider owned 224,097 shares of the company’s stock, valued at approximately $11,092,801.50. The trade was a 7.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was 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 in the company, valued at $6,987,919.40. This represents a 29.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 156,902 shares of company stock valued at $7,796,666 in the last three months. Insiders own 0.22% of the company’s stock.

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.