Bridgefront Capital LLC Invests $657,000 in SLB Limited $SLB

Bridgefront Capital LLC acquired a new position in shares of SLB Limited (NYSE:SLB) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,102 shares of the oil and gas company’s stock, valued at approximately $657,000.

A number of other institutional investors also recently made changes to their positions in the company. Howard Capital Management Inc. grew its position in shares of SLB by 3.2% in the third quarter. Howard Capital Management Inc. now owns 9,165 shares of the oil and gas company’s stock valued at $315,000 after purchasing an additional 288 shares during the last quarter. Fielder Capital Group LLC lifted its holdings in SLB by 2.5% during the 3rd quarter. Fielder Capital Group LLC now owns 12,137 shares of the oil and gas company’s stock worth $417,000 after purchasing an additional 293 shares during the last quarter. Hedges Asset Management LLC lifted its holdings in SLB by 0.9% during the 3rd quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock worth $1,203,000 after purchasing an additional 300 shares during the last quarter. Gables Capital Management Inc. boosted its stake in SLB by 31.6% in the 3rd quarter. Gables Capital Management Inc. now owns 1,250 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 300 shares during the period. Finally, Anchor Investment Management LLC grew its holdings in SLB by 7.4% in the 3rd quarter. Anchor Investment Management LLC now owns 4,350 shares of the oil and gas company’s stock valued at $150,000 after buying an additional 300 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. TD Cowen increased their price objective on SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Jefferies Financial Group upped their price target on shares of SLB from $51.00 to $58.00 and gave the company a “buy” rating in a research note on Sunday, February 1st. BMO Capital Markets raised their price target on shares of SLB from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Wall Street Zen cut shares of SLB from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Piper Sandler boosted their price objective on shares of SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Three investment 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 assigned a Sell rating to the stock. According to data from MarketBeat, SLB has an average rating of “Moderate Buy” and an average target price of $53.16.

Insider Activity at SLB

In related news, CAO Howard Guild sold 13,268 shares of the business’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 $659,419.60. Following the sale, the chief accounting officer owned 22,407 shares in the company, valued at $1,113,627.90. The trade was a 37.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director La Chevardiere Patrick De sold 4,000 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $50.29, for a total value of $201,160.00. Following the completion of the transaction, the director directly owned 19,525 shares of the company’s stock, valued at approximately $981,912.25. The trade was a 17.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 156,902 shares of company stock valued at $7,796,666. 0.16% of the stock is owned by company insiders.

SLB Stock Up 0.4%

SLB stock opened at $44.72 on Monday. SLB Limited has a 52 week low of $31.11 and a 52 week high of $52.45. The business has a 50-day simple moving average of $48.52 and a 200 day simple moving average of $40.47. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. The company has a market cap of $67.19 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 3.12 and a beta of 0.68.

SLB (NYSE:SLB) last announced its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $9.54 billion. During the same period last year, the firm posted $0.92 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Sell-side analysts anticipate that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This is a boost from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.6%. SLB’s 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.