Evergreen Capital Management LLC Boosts Stake in SLB Limited $SLB

Evergreen Capital Management LLC lifted its holdings in SLB Limited (NYSE:SLB) by 512.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 610,611 shares of the oil and gas company’s stock after acquiring an additional 510,929 shares during the quarter. Evergreen Capital Management LLC’s holdings in SLB were worth $21,157,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Synergy Asset Management LLC boosted its stake in SLB by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 80,830 shares of the oil and gas company’s stock worth $2,732,000 after purchasing an additional 40,415 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of SLB by 13.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 210,056 shares of the oil and gas company’s stock worth $7,220,000 after buying an additional 25,417 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of SLB by 1,937.4% in the third quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company’s stock valued at $34,265,000 after acquiring an additional 948,015 shares during the period. Nordea Investment Management AB grew its stake in SLB by 4.9% during the third quarter. Nordea Investment Management AB now owns 2,157,885 shares of the oil and gas company’s stock valued at $72,354,000 after acquiring an additional 100,918 shares in the last quarter. Finally, Allen Wealth Management LLC bought a new stake in SLB during the 3rd quarter worth approximately $1,455,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SLB. Weiss Ratings reissued a “hold (c-)” rating on shares of SLB in a report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price objective on SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. UBS Group upped their target price on SLB from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Cowen reiterated a “buy” rating and set a $57.00 price target on shares of SLB in a research report on Thursday, December 11th. Finally, TD Cowen boosted their price objective on SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $53.17.

Insider Buying and Selling

In related news, Director Peter John Coleman sold 5,500 shares of SLB stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total value of $197,010.00. Following the transaction, the director owned 18,671 shares in the company, valued at $668,795.22. This trade represents a 22.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the completion of the sale, the executive vice president directly owned 159,371 shares of the company’s stock, valued at $6,006,692.99. This represents a 27.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 103,947 shares of company stock worth $3,871,337 in the last 90 days. 0.22% of the stock is owned by company insiders.

SLB Stock Performance

NYSE:SLB opened at $46.73 on Friday. The company has a market capitalization of $69.81 billion, a price-to-earnings ratio of 18.04 and a beta of 0.72. The business has a 50 day moving average of $39.02 and a 200 day moving average of $36.27. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. SLB Limited has a 1-year low of $31.11 and a 1-year high of $47.72.

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

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.