Creative Financial Designs Inc. ADV Increases Holdings in SLB Limited $SLB

Creative Financial Designs Inc. ADV grew its holdings in shares of SLB Limited (NYSE:SLB) by 38.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,376 shares of the oil and gas company’s stock after buying an additional 4,244 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in SLB were worth $520,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. First Command Advisory Services Inc. raised its position in shares of SLB by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 477 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in SLB in the 1st quarter worth about $33,000. Atticus Wealth Management LLC purchased a new stake in SLB in the 2nd quarter worth about $29,000. Park Square Financial Group LLC purchased a new stake in SLB in the 1st quarter worth about $38,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in SLB in the 1st quarter worth about $40,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Stock Performance

Shares of NYSE:SLB opened at $36.06 on Friday. The firm has a market cap of $53.87 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 10.19 and a beta of 0.97. The firm’s 50 day simple moving average is $34.90 and its 200-day simple moving average is $34.62. SLB Limited has a one year low of $31.11 and a one year high of $44.97. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39.

SLB (NYSE:SLB) last issued its earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. SLB had a net margin of 10.34% and a return on equity of 18.97%. The business had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. During the same period last year, the company posted $0.89 earnings per share. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, equities analysts predict that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be paid a dividend of $0.285 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. SLB’s dividend payout ratio (DPR) is currently 44.02%.

Insider Activity

In other news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the transaction, the insider directly owned 202,201 shares in the company, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of recent analyst reports. Susquehanna reduced their price objective on shares of SLB from $44.00 to $42.00 and set a “positive” rating on the stock in a research report on Monday, July 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Barclays increased their price objective on shares of SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Stifel Nicolaus reduced their price objective on shares of SLB from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Finally, Piper Sandler set a $42.00 price objective on shares of SLB and gave the stock an “overweight” rating in a research report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.69.

SLB Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.