Board of the Pension Protection Fund Acquires Shares of 24,200 SLB Limited $SLB

Board of the Pension Protection Fund bought a new stake in SLB Limited (NYSE:SLB) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 24,200 shares of the oil and gas company’s stock, valued at approximately $832,000.

Several other hedge funds have also recently modified their holdings of SLB. Hedges Asset Management LLC increased its stake in SLB by 0.9% during the 3rd quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock worth $1,203,000 after buying an additional 300 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its stake in shares of SLB by 2.2% in the second quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock worth $486,000 after acquiring an additional 308 shares during the last quarter. EntryPoint Capital LLC increased its position in shares of SLB by 4.5% during the first quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock worth $307,000 after purchasing an additional 316 shares in the last quarter. CreativeOne Wealth LLC raised its stake in SLB by 6.3% in the 1st quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock valued at $236,000 after purchasing an additional 335 shares during the last quarter. Finally, NewSquare Capital LLC lifted its holdings in SLB by 51.4% in the 2nd quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 341 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of research reports. TD Cowen upped their target price on shares of SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Redburn Partners set a $48.00 price objective on shares of SLB in a research note on Monday, November 3rd. Barclays cut their price objective on shares of SLB from $48.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday. Rothschild Redb upgraded SLB to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Rothschild & Co Redburn initiated coverage on SLB in a report on Monday, November 3rd. They issued a “buy” rating and a $48.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.42.

SLB Price Performance

SLB stock opened at $38.12 on Friday. The company’s 50 day simple moving average is $36.34 and its 200-day simple moving average is $35.29. 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 1 year low of $31.11 and a 1 year high of $44.66. The company has a market capitalization of $56.95 billion, a price-to-earnings ratio of 14.72 and a beta of 0.73.

SLB (NYSE:SLB) last posted its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.02. SLB had a net margin of 10.34% and a return on equity of 18.97%. The firm had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.99 billion. During the same quarter last year, the firm earned $0.89 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, equities research analysts expect that SLB Limited will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a yield of 3.0%. SLB’s dividend payout ratio is presently 44.02%.

Insider Buying and Selling

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

SLB 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.