Heritage Investors Management Corp Has $9.82 Million Stake in SLB Limited $SLB

Heritage Investors Management Corp raised its position in shares of SLB Limited (NYSE:SLB) by 7.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 285,643 shares of the oil and gas company’s stock after purchasing an additional 20,326 shares during the quarter. Heritage Investors Management Corp’s holdings in SLB were worth $9,818,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Twin Peaks Wealth Advisors LLC purchased a new position in SLB during the 2nd quarter valued at about $25,000. Root Financial Partners LLC acquired a new stake in shares of SLB during the third quarter worth approximately $29,000. Corsicana & Co. acquired a new stake in shares of SLB during the third quarter worth approximately $31,000. NewSquare Capital LLC grew 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 valued at $34,000 after purchasing an additional 341 shares in the last quarter. Finally, Kennebec Savings Bank increased its stake in SLB by 47.4% in the 3rd quarter. Kennebec Savings Bank now owns 1,390 shares of the oil and gas company’s stock valued at $48,000 after buying an additional 447 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Stock Performance

Shares of NYSE SLB opened at $48.08 on Tuesday. The business’s 50-day simple moving average is $41.72 and its 200-day simple moving average is $37.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33. SLB Limited has a 52 week low of $31.11 and a 52 week high of $51.67. The firm has a market cap of $71.90 billion, a price-to-earnings ratio of 20.29, a P/E/G ratio of 3.29 and a beta of 0.72.

SLB (NYSE:SLB) last posted its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The firm had revenue of $9.75 billion during the quarter, compared to analyst estimates of $9.54 billion. During the same period in the previous year, the company earned $0.92 EPS. The company’s revenue for the quarter was up 5.0% 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 fiscal year.

SLB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be issued a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. This is an increase from SLB’s previous quarterly dividend of $0.29. SLB’s payout ratio is currently 48.10%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SLB. Rothschild & Co Redburn initiated coverage on shares of SLB in a report on Monday, November 3rd. They set a “buy” rating and a $48.00 price target on the stock. Rothschild Redb raised SLB to a “strong-buy” rating in a research report on Monday, November 3rd. Sanford C. Bernstein upped their target price on SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. TD Cowen raised their price target on SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $50.00 price target on shares of SLB in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, SLB presently has a consensus rating of “Moderate Buy” and an average price target of $52.17.

Insiders Place Their Bets

In other news, CAO Howard Guild sold 13,268 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $659,419.60. Following the sale, the chief accounting officer directly owned 22,407 shares of the company’s stock, valued at approximately $1,113,627.90. This trade represents a 37.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephane Biguet sold 61,017 shares of SLB stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $3,032,544.90. Following the completion of the transaction, the chief financial officer owned 155,548 shares in the company, valued at $7,730,735.60. The trade was a 28.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 260,849 shares of company stock worth $11,668,003 in the last ninety days. 0.22% of the stock is owned by 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.