Econ Financial Services Corp Increases Holdings in SLB Limited $SLB

Econ Financial Services Corp increased its position in SLB Limited (NYSE:SLB) by 41.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,424 shares of the oil and gas company’s stock after acquiring an additional 21,773 shares during the period. SLB makes up about 1.3% of Econ Financial Services Corp’s investment portfolio, making the stock its 25th biggest position. Econ Financial Services Corp’s holdings in SLB were worth $2,558,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Twin Peaks Wealth Advisors LLC acquired a new stake in SLB in the second quarter valued at $25,000. Atticus Wealth Management LLC purchased a new stake in shares of SLB in the 2nd quarter worth about $29,000. Corsicana & Co. acquired a new stake in SLB in the 3rd quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in SLB by 55.3% during the 2nd 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 in the last quarter. Finally, NewSquare Capital LLC raised its position in SLB by 51.4% during the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 341 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other SLB news, CFO Stephane Biguet sold 38,447 shares of SLB 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 transaction, the chief financial officer owned 175,690 shares in the company, valued at $6,456,607.50. This trade represents a 17.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $2,261,400.00. Following 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. Over the last three months, insiders have sold 103,947 shares of company stock valued at $3,871,337. Insiders own 0.22% of the company’s stock.

SLB Price Performance

SLB stock opened at $38.38 on Friday. SLB Limited has a 52-week low of $31.11 and a 52-week high of $44.66. The stock’s fifty day simple moving average is $37.20 and its 200-day simple moving average is $35.51. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $57.34 billion, a price-to-earnings ratio of 14.82 and a beta of 0.72.

SLB (NYSE:SLB) last released its earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $8.99 billion. During the same period in the prior year, the firm posted $0.89 earnings per share. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. Equities research analysts expect that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders 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 dividend yield of 3.0%. The ex-dividend date is Wednesday, December 3rd. SLB’s dividend payout ratio is presently 44.02%.

Analyst Ratings Changes

Several brokerages have issued reports on SLB. Rothschild Redb raised shares of SLB to a “strong-buy” rating in a report on Monday, November 3rd. Barclays reduced their target price on SLB from $48.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. TD Cowen upped their price objective on SLB from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, 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 report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.42.

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.