SLB Limited $SLB is Sanders Morris Harris LLC’s 5th Largest Position

Sanders Morris Harris LLC decreased its holdings in SLB Limited (NYSE:SLB) by 88.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,500 shares of the oil and gas company’s stock after selling 292,050 shares during the period. SLB comprises approximately 2.3% of Sanders Morris Harris LLC’s portfolio, making the stock its 5th largest position. Sanders Morris Harris LLC’s holdings in SLB were worth $1,455,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Howard Capital Management Inc. grew its stake in SLB by 3.2% during the 3rd quarter. Howard Capital Management Inc. now owns 9,165 shares of the oil and gas company’s stock worth $315,000 after purchasing an additional 288 shares in the last quarter. Fielder Capital Group LLC raised its position in SLB by 2.5% in the 3rd quarter. Fielder Capital Group LLC now owns 12,137 shares of the oil and gas company’s stock valued at $417,000 after purchasing an additional 293 shares in the last quarter. Hedges Asset Management LLC boosted its stake in shares of SLB by 0.9% in the 3rd quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock valued at $1,203,000 after buying an additional 300 shares during the period. Gables Capital Management Inc. boosted its stake in shares of 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 valued at $43,000 after buying an additional 300 shares during the period. Finally, Anchor Investment Management LLC grew its position in shares of SLB by 7.4% during the third quarter. Anchor Investment Management LLC now owns 4,350 shares of the oil and gas company’s stock worth $150,000 after buying an additional 300 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SLB. Stifel Nicolaus set a $56.00 target price on shares of SLB in a report on Monday, January 26th. Jefferies Financial Group boosted their price target on shares of SLB from $51.00 to $58.00 and gave the stock a “buy” rating in a report on Sunday, February 1st. Loop Capital set a $48.00 price objective on shares of SLB in a research report on Tuesday, January 27th. The Goldman Sachs Group raised their price objective on shares of SLB from $53.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Finally, Royal Bank Of Canada lifted their price objective on shares of SLB from $51.00 to $54.00 and gave the stock an “outperform” rating in a research 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 issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $53.16.

Insider Transactions at SLB

In other SLB news, Director La Chevardiere Patrick De sold 4,000 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $50.29, for a total transaction of $201,160.00. Following the transaction, the director owned 19,525 shares of the company’s stock, valued at approximately $981,912.25. This trade represents a 17.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephane Biguet sold 61,017 shares of SLB stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $3,032,544.90. Following the sale, the chief financial officer owned 155,548 shares in the company, valued at $7,730,735.60. This trade represents a 28.17% decrease in their position. 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 quarter. 0.16% of the stock is owned by corporate insiders.

SLB Stock Performance

Shares of SLB opened at $46.61 on Friday. The stock has a 50 day moving average price of $48.74 and a 200 day moving average price of $40.78. 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 company has a market capitalization of $70.03 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 3.32 and a beta of 0.68. SLB Limited has a 52-week low of $31.11 and a 52-week high of $52.45.

SLB (NYSE:SLB) last released its quarterly earnings data 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. The company had revenue of $9.75 billion for the quarter, compared to analysts’ expectations of $9.54 billion. SLB had a net margin of 9.45% and a return on equity of 17.45%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the company earned $0.92 earnings per share. Research analysts predict 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. Investors of record on Wednesday, February 11th will be paid a dividend of $0.295 per share. The ex-dividend date is Wednesday, February 11th. This represents a $1.18 annualized dividend and a yield of 2.5%. This is an increase from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio (DPR) is 49.79%.

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.