CIBC Private Wealth Group LLC Increases Position in SLB Limited $SLB

CIBC Private Wealth Group LLC grew its stake in SLB Limited (NYSE:SLB) by 19.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 124,001 shares of the oil and gas company’s stock after buying an additional 19,917 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in SLB were worth $4,262,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Synergy Asset Management LLC boosted its holdings in SLB by 100.0% during the third quarter. Synergy Asset Management LLC now owns 80,830 shares of the oil and gas company’s stock worth $2,732,000 after buying an additional 40,415 shares in the last quarter. Americana Partners LLC increased its holdings in SLB by 10.1% in the third quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company’s stock valued at $8,526,000 after buying an additional 22,706 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in SLB by 13.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 210,056 shares of the oil and gas company’s stock valued at $7,220,000 after buying an additional 25,417 shares in the last quarter. Nordea Investment Management AB raised its position in shares of SLB by 4.9% in the third quarter. Nordea Investment Management AB now owns 2,157,885 shares of the oil and gas company’s stock worth $72,354,000 after acquiring an additional 100,918 shares during the period. Finally, Bank Pictet & Cie Europe AG raised its position in shares of SLB by 1,937.4% in the third quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company’s stock worth $34,265,000 after acquiring an additional 948,015 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SLB. Loop Capital set a $48.00 target price on SLB in a research report on Tuesday, January 27th. Bank of America increased their price objective on SLB from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Barclays raised their price objective on SLB from $47.00 to $49.00 and gave the company an “overweight” rating in a report on Monday, January 26th. The Goldman Sachs Group increased their target price on shares of SLB from $53.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Finally, Sanford C. Bernstein raised their price target on shares of SLB from $52.30 to $56.10 and gave the stock an “outperform” rating in a research note on Thursday, March 12th. 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 issued a Sell rating to the stock. According to data from MarketBeat, SLB currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

SLB Stock Performance

Shares of SLB stock opened at $46.61 on Friday. The business’s 50 day moving average price is $48.74 and its 200 day moving average price is $40.78. The company has a market cap of $70.03 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 3.32 and a beta of 0.68. 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 one year low of $31.11 and a one year high of $52.45.

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, beating the consensus estimate of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The company had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.54 billion. During the same period in the prior year, the business earned $0.92 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. On average, research analysts predict that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be issued 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 dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, February 11th. SLB’s payout ratio is currently 49.79%.

Insider Transactions at SLB

In related news, CAO Howard Guild sold 13,268 shares of the company’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $659,419.60. Following the completion of the sale, the chief accounting officer owned 22,407 shares of the company’s stock, valued at approximately $1,113,627.90. This represents a 37.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Stephane Biguet sold 61,017 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer owned 155,548 shares of the company’s stock, valued at approximately $7,730,735.60. The trade was a 28.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 156,902 shares of company stock valued at $7,796,666 in the last three months. 0.16% of the stock is currently owned by corporate insiders.

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.