Cary Street Partners Financial LLC Purchases 14,976 Shares of SLB Limited $SLB

Cary Street Partners Financial LLC grew its position in SLB Limited (NYSE:SLB) by 13.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 123,291 shares of the oil and gas company’s stock after purchasing an additional 14,976 shares during the period. Cary Street Partners Financial LLC’s holdings in SLB were worth $4,238,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. TD Asset Management Inc lifted its stake in SLB by 17.6% in the 3rd quarter. TD Asset Management Inc now owns 614,261 shares of the oil and gas company’s stock valued at $21,112,000 after acquiring an additional 92,088 shares in the last quarter. Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of SLB in the third quarter valued at approximately $323,000. America First Investment Advisors LLC lifted its position in shares of SLB by 1.1% in the third quarter. America First Investment Advisors LLC now owns 563,100 shares of the oil and gas company’s stock worth $19,354,000 after purchasing an additional 6,340 shares in the last quarter. Compound Planning Inc. boosted its holdings in SLB by 21.3% during the third quarter. Compound Planning Inc. now owns 10,755 shares of the oil and gas company’s stock worth $370,000 after purchasing an additional 1,891 shares during the last quarter. Finally, Dana Investment Advisors Inc. grew its position in SLB by 83.1% in the third quarter. Dana Investment Advisors Inc. now owns 597,920 shares of the oil and gas company’s stock valued at $20,551,000 after purchasing an additional 271,420 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SLB shares. Morgan Stanley restated an “overweight” rating and set a $50.00 price objective on shares of SLB in a research note on Wednesday, January 21st. Evercore set a $54.00 price target on SLB and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Rothschild & Co Redburn set a $48.00 price target on SLB in a research note on Monday, November 3rd. Susquehanna upped their price objective on SLB from $52.00 to $58.00 and gave the stock a “positive” rating in a research note on Monday, January 26th. Finally, JPMorgan Chase & Co. increased their price objective on SLB from $43.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, SLB has a consensus rating of “Moderate Buy” and an average target price of $52.38.

Insider Transactions at SLB

In other SLB news, CAO Howard Guild sold 13,268 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $659,419.60. Following the transaction, the chief accounting officer owned 22,407 shares in the company, valued at $1,113,627.90. This represents a 37.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director La Chevardiere Patrick De sold 4,000 shares of SLB stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $50.29, for a total transaction of $201,160.00. Following the completion of the sale, the director owned 19,525 shares of the company’s stock, valued at approximately $981,912.25. The trade was a 17.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 156,902 shares of company stock worth $7,796,666. Company insiders own 0.22% of the company’s stock.

SLB Stock Performance

NYSE:SLB opened at $51.68 on Thursday. The stock has a 50 day simple moving average of $46.17 and a 200 day simple moving average of $39.24. The stock has a market cap of $77.28 billion, a P/E ratio of 21.81, a PEG ratio of 3.53 and a beta of 0.73. SLB Limited has a 1-year low of $31.11 and a 1-year high of $52.40. 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 (NYSE:SLB) last posted its quarterly earnings data 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. The firm had revenue of $9.75 billion for the quarter, compared to analysts’ expectations of $9.54 billion. SLB had a return on equity of 17.45% and a net margin of 9.45%.The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.92 EPS. Research analysts anticipate that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be paid a $0.295 dividend. This is a positive change from SLB’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, February 11th. This represents a $1.18 annualized dividend and a yield of 2.3%. SLB’s dividend payout ratio is presently 49.79%.

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.