Stockman Wealth Management Inc. Acquires 17,902 Shares of SLB Limited $SLB

Stockman Wealth Management Inc. lifted its stake in SLB Limited (NYSE:SLB) by 6.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 281,153 shares of the oil and gas company’s stock after buying an additional 17,902 shares during the period. Stockman Wealth Management Inc.’s holdings in SLB were worth $9,663,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. New Hampshire Trust boosted its stake in shares of SLB by 17.4% during the 3rd quarter. New Hampshire Trust now owns 9,276 shares of the oil and gas company’s stock valued at $319,000 after purchasing an additional 1,375 shares in the last quarter. HBW Advisory Services LLC boosted its stake in SLB by 4.5% in the 3rd quarter. HBW Advisory Services LLC now owns 10,252 shares of the oil and gas company’s stock worth $352,000 after purchasing an additional 443 shares during the period. HBK Sorce Advisory LLC lifted its position in SLB by 3.0% during the third quarter. HBK Sorce Advisory LLC now owns 13,798 shares of the oil and gas company’s stock valued at $449,000 after purchasing an additional 400 shares during the last quarter. Blue Trust Inc. raised its position in SLB by 6.8% during the third quarter. Blue Trust Inc. now owns 8,151 shares of the oil and gas company’s stock valued at $280,000 after purchasing an additional 521 shares during the period. Finally, Financial Management Professionals Inc. lifted its holdings in shares of SLB by 6.6% in the 3rd quarter. Financial Management Professionals Inc. now owns 6,196 shares of the oil and gas company’s stock worth $215,000 after acquiring an additional 386 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

Shares of SLB stock opened at $37.78 on Friday. The business has a 50-day simple moving average of $36.89 and a 200-day simple moving average of $35.44. 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 Limited has a one year low of $31.11 and a one year high of $44.66. The company has a market cap of $56.43 billion, a PE ratio of 14.59 and a beta of 0.73.

SLB (NYSE:SLB) last released its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. The business had revenue of $8.93 billion during 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 company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.89 EPS. On average, equities research analysts forecast that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Announces Dividend

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 given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio is currently 44.02%.

Analyst Ratings Changes

Several brokerages have recently weighed in on SLB. Rothschild Redb raised shares of SLB to a “strong-buy” rating in a research report on Monday, November 3rd. Barclays reduced their price target on shares of SLB from $48.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Citigroup raised their price target on SLB from $47.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. cut their price objective on SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Finally, Piper Sandler increased their target price on SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.42.

Insider Activity

In related news, CFO Stephane Biguet sold 38,447 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $36.75, for a total value of $1,412,927.25. Following the completion of the sale, the chief financial officer directly owned 175,690 shares of the company’s stock, valued at $6,456,607.50. The trade was a 17.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total value of $2,261,400.00. Following the transaction, the executive vice president owned 159,371 shares in the company, valued at $6,006,692.99. This represents a 27.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 103,947 shares of company stock worth $3,871,337. 0.22% of the stock is currently owned by insiders.

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.