Fairvoy Private Wealth LLC Has $206,000 Holdings in SLB Limited $SLB

Fairvoy Private Wealth LLC cut its stake in SLB Limited (NYSE:SLB) by 85.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,997 shares of the oil and gas company’s stock after selling 35,800 shares during the period. Fairvoy Private Wealth LLC’s holdings in SLB were worth $206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of SLB. Twin Peaks Wealth Advisors LLC bought a new position in SLB in the 2nd quarter worth approximately $25,000. Atticus Wealth Management LLC bought a new stake in shares of SLB during the second quarter worth $29,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of SLB by 55.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 350 shares during the period. NewSquare Capital LLC boosted its holdings in SLB by 51.4% in the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 341 shares during the last quarter. Finally, Kennebec Savings Bank boosted its holdings in SLB by 47.4% in the third quarter. Kennebec Savings Bank now owns 1,390 shares of the oil and gas company’s stock valued at $48,000 after acquiring an additional 447 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Barclays cut their target price on shares of SLB from $48.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday. Cowen reaffirmed a “buy” rating and issued a $57.00 price objective on shares of SLB in a research note on Thursday, December 11th. Redburn Partners set a $48.00 target price on shares of SLB in a report on Monday, November 3rd. TD Cowen increased their price target on SLB from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Finally, Rothschild & Co Redburn began coverage on SLB in a research note on Monday, November 3rd. They set a “buy” rating and a $48.00 price objective for the company. Two investment 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. According to data from MarketBeat.com, SLB presently has an average rating of “Moderate Buy” and a consensus target price of $52.42.

SLB Price Performance

Shares of SLB stock opened at $38.12 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. SLB Limited has a 12-month low of $31.11 and a 12-month high of $44.66. The firm has a fifty day moving average of $36.34 and a 200-day moving average of $35.30. The firm 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, topping the consensus estimate of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. During the same period in the previous year, the company posted $0.89 earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, equities research analysts forecast that SLB Limited will post 3.38 earnings per share for the current year.

SLB Announces Dividend

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

Insider Buying and Selling at SLB

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