Financial Security Advisor Inc. Grows Holdings in SLB Limited $SLB

Financial Security Advisor Inc. lifted its holdings in SLB Limited (NYSE:SLB) by 102.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,761 shares of the oil and gas company’s stock after purchasing an additional 12,003 shares during the period. Financial Security Advisor Inc.’s holdings in SLB were worth $918,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SLB. Americana Partners LLC raised its position in SLB by 10.1% in the 3rd quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company’s stock valued at $8,526,000 after purchasing an additional 22,706 shares during the last quarter. Principal Financial Group Inc. raised its position in SLB by 9.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,677,257 shares of the oil and gas company’s stock valued at $57,647,000 after purchasing an additional 147,175 shares during the last quarter. Evergreen Capital Management LLC raised its position in SLB by 512.6% in the 3rd quarter. Evergreen Capital Management LLC now owns 610,611 shares of the oil and gas company’s stock valued at $21,157,000 after purchasing an additional 510,929 shares during the last quarter. Meritage Portfolio Management purchased a new stake in SLB in the 3rd quarter valued at $2,530,000. Finally, New York State Common Retirement Fund raised its position in SLB by 3.0% in the 3rd quarter. New York State Common Retirement Fund now owns 1,879,137 shares of the oil and gas company’s stock valued at $64,586,000 after purchasing an additional 54,600 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Stock Down 0.8%

Shares of SLB stock opened at $55.33 on Friday. The company has a market cap of $82.72 billion, a P/E ratio of 24.16, a PEG ratio of 3.92 and a beta of 0.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. SLB Limited has a one year low of $31.64 and a one year high of $57.20. The firm has a fifty day moving average of $51.44 and a two-hundred day moving average of $45.70.

SLB (NYSE:SLB) last announced its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. SLB’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 EPS. On average, analysts forecast that SLB Limited will post 2.61 earnings per share for the current year.

SLB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s dividend payout ratio is currently 51.53%.

Analysts Set New Price Targets

Several analysts recently commented on SLB shares. BMO Capital Markets upped their price target on shares of SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. UBS Group upped their price target on shares of SLB from $61.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Piper Sandler upped their price target on shares of SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. The Goldman Sachs Group upped their price target on shares of SLB from $53.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Finally, Morgan Stanley set a $57.00 price target on shares of SLB in a research report on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and an average target price of $59.74.

Insiders Place Their Bets

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the transaction, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the transaction, the director directly owned 16,953 shares in the company, valued at $921,056.49. This represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.16% 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.