Clark Estates Inc. NY Acquires New Shares in SLB Limited $SLB

Clark Estates Inc. NY acquired a new position in SLB Limited (NYSE:SLB) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 65,000 shares of the oil and gas company’s stock, valued at approximately $2,234,000.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in SLB by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after buying an additional 1,166 shares during the period. Bison Wealth LLC purchased a new position in shares of SLB in the 4th quarter valued at $238,000. State of New Jersey Common Pension Fund D raised its position in shares of SLB by 7.9% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 577,133 shares of the oil and gas company’s stock worth $19,507,000 after acquiring an additional 42,123 shares in the last quarter. MQS Management LLC purchased a new stake in shares of SLB during the 2nd quarter worth $341,000. Finally, Ballast Advisors LLC boosted its position in SLB by 22.9% during the second quarter. Ballast Advisors LLC now owns 77,111 shares of the oil and gas company’s stock valued at $2,606,000 after purchasing an additional 14,343 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Piper Sandler boosted their target price on shares of SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Barclays boosted their price objective on shares of SLB from $47.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Sanford C. Bernstein raised their target price on shares of SLB from $47.60 to $52.30 and gave the company an “outperform” rating in a research note on Thursday, December 11th. Rothschild & Co Redburn set a $48.00 price target on SLB in a research report on Monday, November 3rd. Finally, Argus upgraded SLB to a “strong-buy” rating in a report on Monday, January 26th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.38.

Insider Buying and Selling

In other news, insider Dianne B. Ralston sold 18,617 shares of the company’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $49.50, for a total value of $921,541.50. Following the sale, the insider directly owned 224,097 shares of the company’s stock, valued at $11,092,801.50. This represents a 7.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephane Biguet sold 61,017 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $3,032,544.90. Following the transaction, the chief financial officer directly owned 155,548 shares of the company’s stock, valued at approximately $7,730,735.60. This trade represents a 28.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 162,402 shares of company stock worth $7,993,676 in the last quarter. 0.22% of the stock is currently owned by corporate insiders.

SLB Trading Down 1.4%

NYSE:SLB opened at $50.82 on Monday. The company has a market capitalization of $75.99 billion, a P/E ratio of 21.44, a PEG ratio of 3.46 and a beta of 0.72. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. SLB Limited has a 12 month low of $31.11 and a 12 month high of $52.40. The firm has a fifty day simple moving average of $45.37 and a 200-day simple moving average of $38.89.

SLB (NYSE:SLB) last issued its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (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 analyst estimates of $9.54 billion. SLB had a return on equity of 17.45% and a net margin of 9.45%.The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $0.92 EPS. On average, equities research analysts anticipate that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be given a $0.295 dividend. 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 yield of 2.3%. The ex-dividend date is Wednesday, February 11th. SLB’s payout ratio is currently 49.79%.

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.