SLB Limited $SLB Stock Holdings Boosted by Bourne Lent Asset Management Inc.

Bourne Lent Asset Management Inc. grew its position in SLB Limited (NYSE:SLB) by 177.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,450 shares of the oil and gas company’s stock after purchasing an additional 15,000 shares during the period. Bourne Lent Asset Management Inc.’s holdings in SLB were worth $900,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Howard Capital Management Inc. increased its holdings 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 worth $315,000 after buying an additional 288 shares during the period. Daymark Wealth Partners LLC boosted its holdings in SLB by 3.2% during the 4th quarter. Daymark Wealth Partners LLC now owns 9,380 shares of the oil and gas company’s stock valued at $360,000 after acquiring an additional 290 shares during the period. Fielder Capital Group LLC grew its position 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 acquiring an additional 293 shares during the last quarter. Hedges Asset Management LLC grew its position 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 acquiring an additional 300 shares during the last quarter. Finally, Gables Capital Management Inc. increased 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 worth $43,000 after purchasing an additional 300 shares during the period. Institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SLB shares. Loop Capital set a $48.00 price objective on SLB in a research note on Tuesday, January 27th. Argus raised shares of SLB to a “strong-buy” rating in a research note on Monday, January 26th. Stifel Nicolaus set a $56.00 price target on shares of SLB in a report on Monday, January 26th. Piper Sandler increased their price target on shares of SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Finally, Royal Bank Of Canada raised their price target on shares of SLB from $51.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Three investment 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 assigned a Sell rating to the company. According to MarketBeat.com, SLB has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

SLB Price Performance

NYSE SLB opened at $53.51 on Friday. SLB Limited has a one year low of $31.11 and a one year high of $53.70. The stock has a 50-day moving average of $49.27 and a 200 day moving average of $41.30. 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 company has a market capitalization of $80.39 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 3.72 and a beta of 0.68.

SLB (NYSE:SLB) last posted 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 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 quarter in the prior year, the business earned $0.92 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, sell-side analysts forecast that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The business also recently announced 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 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, February 11th. SLB’s dividend payout ratio is 49.79%.

Insider Buying and Selling

In other news, Director La Chevardiere Patrick De sold 4,000 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $50.29, for a total transaction of $201,160.00. Following the transaction, the director directly owned 19,525 shares of the company’s stock, valued at $981,912.25. This represents a 17.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 value of $3,032,544.90. Following the completion of the transaction, the chief financial officer owned 155,548 shares in the company, valued at approximately $7,730,735.60. This trade represents a 28.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 156,902 shares of company stock valued at $7,796,666 in the last ninety days. Corporate insiders own 0.16% of the company’s stock.

About SLB

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.