HB Wealth Management LLC Has $1.15 Million Stake in SLB Limited $SLB

HB Wealth Management LLC increased its position in SLB Limited (NYSE:SLB) by 60.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,410 shares of the oil and gas company’s stock after buying an additional 12,571 shares during the period. HB Wealth Management LLC’s holdings in SLB were worth $1,148,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Twin Peaks Wealth Advisors LLC acquired a new position in shares of SLB during the 2nd quarter worth $25,000. Atticus Wealth Management LLC bought a new stake in SLB in the second quarter worth $29,000. Corsicana & Co. bought a new stake in SLB in the third quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. increased its position in 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 worth $33,000 after buying an additional 350 shares during the last quarter. Finally, NewSquare Capital LLC raised its holdings 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 valued at $34,000 after buying an additional 341 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Peter John Coleman sold 5,500 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total value of $197,010.00. Following the completion of the sale, the director owned 18,671 shares in the company, valued at approximately $668,795.22. This trade represents a 22.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephane Biguet sold 38,447 shares of the business’s stock in a transaction dated 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 represents a 17.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 103,947 shares of company stock valued at $3,871,337. Insiders own 0.22% of the company’s stock.

SLB Stock Performance

Shares of NYSE SLB opened at $45.20 on Monday. SLB Limited has a 12 month low of $31.11 and a 12 month high of $45.24. The company has a market cap of $67.52 billion, a P/E ratio of 17.45 and a beta of 0.72. The business’s 50 day moving average is $38.05 and its two-hundred day moving average is $35.87. 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 (NYSE:SLB) last announced 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 for the quarter, compared to the consensus estimate of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. SLB’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the company posted $0.89 earnings per share. On average, equities analysts expect that SLB Limited will post 3.38 EPS for the current year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd were issued a dividend of $0.285 per share. The ex-dividend date was Wednesday, December 3rd. This represents a $1.14 annualized dividend and a dividend yield of 2.5%. SLB’s payout ratio is presently 44.02%.

Analyst Upgrades and Downgrades

SLB has been the subject of several recent analyst reports. Zacks Research upgraded SLB from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. JPMorgan Chase & Co. reduced their target price on SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, October 20th. UBS Group upped their target price on SLB from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Finally, Redburn Partners set a $48.00 price objective on shares of SLB in a research note on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and an average price target of $53.42.

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.