Envestnet Asset Management Inc. Boosts Holdings in SLB Limited $SLB

Envestnet Asset Management Inc. lifted its position in shares of SLB Limited (NYSE:SLB) by 15.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,520,100 shares of the oil and gas company’s stock after purchasing an additional 203,229 shares during the period. Envestnet Asset Management Inc. owned about 0.10% of SLB worth $52,246,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLB. Twin Peaks Wealth Advisors LLC purchased a new position in SLB in the 2nd quarter valued at about $25,000. Root Financial Partners LLC acquired a new position in shares of SLB in the third quarter worth about $29,000. Corsicana & Co. acquired a new position in shares of SLB in the third quarter worth about $31,000. Strengthening Families & Communities LLC purchased a new position in SLB in the third quarter valued at about $31,000. Finally, NewSquare Capital LLC grew its stake in SLB by 51.4% during 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. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 18,617 shares of the company’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.50, for a total transaction of $921,541.50. Following the completion of the transaction, the insider directly owned 224,097 shares in the company, valued at $11,092,801.50. This represents a 7.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephane Biguet sold 61,017 shares of the stock in a transaction on 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 sale, the chief financial officer directly owned 155,548 shares in the company, valued at $7,730,735.60. This represents a 28.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 200,849 shares of company stock worth $9,406,603. 0.22% of the stock is currently owned by insiders.

SLB Stock Down 0.3%

Shares of NYSE:SLB opened at $50.56 on Tuesday. The company’s fifty day moving average is $43.16 and its two-hundred day moving average is $37.83. 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 1-year low of $31.11 and a 1-year high of $51.67. The stock has a market capitalization of $75.60 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 3.45 and a beta of 0.72.

SLB (NYSE:SLB) last announced its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. SLB had a net margin of 9.45% and a return on equity of 17.45%. The business had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.54 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities analysts anticipate that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, February 11th. This is a positive change from SLB’s previous quarterly dividend of $0.29. SLB’s payout ratio is currently 48.10%.

Wall Street Analyst Weigh In

SLB has been the topic of a number of recent analyst reports. Piper Sandler upped their target price on SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Citigroup upped their price target on shares of SLB from $53.00 to $56.00 and gave the company a “buy” rating in a report on Monday, January 26th. Rothschild & Co Redburn set a $48.00 price objective on shares of SLB in a report on Monday, November 3rd. Royal Bank Of Canada upped their target price on shares of SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, UBS Group reaffirmed a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, SLB presently has a consensus rating of “Moderate Buy” and an average target price of $52.38.

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.