84,690 Shares in SLB Limited $SLB Purchased by ABC Arbitrage SA

ABC Arbitrage SA bought a new position in shares of SLB Limited (NYSE:SLB) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 84,690 shares of the oil and gas company’s stock, valued at approximately $2,911,000.

A number of other large investors have also recently modified their holdings of SLB. Twin Peaks Wealth Advisors LLC bought a new stake in shares of SLB in the second quarter valued at about $25,000. Root Financial Partners LLC bought a new position in SLB during the 3rd quarter worth about $29,000. Corsicana & Co. purchased a new position in SLB during the 3rd quarter valued at about $31,000. Strengthening Families & Communities LLC bought a new stake in shares of SLB in the 3rd quarter valued at about $31,000. Finally, NewSquare Capital LLC raised its holdings in shares of SLB by 51.4% in 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.

SLB Price Performance

Shares of SLB stock opened at $50.31 on Wednesday. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $51.67. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33. The firm has a market capitalization of $75.23 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 3.44 and a beta of 0.73. The stock’s 50-day simple moving average is $43.44 and its 200-day simple moving average is $37.94.

SLB (NYSE:SLB) last released its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The company had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.54 billion. SLB had a net margin of 9.45% and a return on equity of 17.45%. SLB’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the business earned $0.92 EPS. As a group, equities analysts forecast that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be paid a $0.295 dividend. The ex-dividend date is Wednesday, February 11th. This is an increase from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. SLB’s dividend payout ratio (DPR) is currently 48.10%.

Insider Activity

In other SLB news, CAO Howard Guild sold 13,268 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 transaction of $659,419.60. Following the completion of the transaction, the chief accounting officer owned 22,407 shares in the company, valued at approximately $1,113,627.90. This trade represents a 37.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Abdellah Merad sold 60,000 shares of the company’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 $2,982,000.00. Following the completion of the sale, the executive vice president owned 140,602 shares in the company, valued at $6,987,919.40. The trade was a 29.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 200,849 shares of company stock valued at $9,406,603 over the last quarter. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SLB. Morgan Stanley reissued an “overweight” rating and set a $50.00 price objective on shares of SLB in a report on Wednesday, January 21st. Evercore set a $54.00 target price on SLB and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Barclays lifted their price target on SLB from $47.00 to $49.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Citigroup upped their price objective on SLB from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, Bank of America raised their price objective on SLB from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, SLB has a consensus rating of “Moderate Buy” and an average price target 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.