Canoe Financial LP Invests $45.03 Million in SLB Limited $SLB

Canoe Financial LP purchased a new stake in shares of SLB Limited (NYSE:SLB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,138,154 shares of the oil and gas company’s stock, valued at approximately $45,032,000. Canoe Financial LP owned 0.08% of SLB at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Howard Capital Management Inc. increased its position in SLB by 3.2% during the 3rd 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 period. Daymark Wealth Partners LLC lifted its position in shares of SLB by 3.2% in the 4th quarter. Daymark Wealth Partners LLC now owns 9,380 shares of the oil and gas company’s stock worth $360,000 after purchasing an additional 290 shares during the period. Fielder Capital Group LLC lifted its position in shares of SLB by 2.5% in 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 period. Hedges Asset Management LLC boosted its stake in shares of SLB by 0.9% during the third quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock valued at $1,203,000 after purchasing an additional 300 shares in the last quarter. Finally, Gables Capital Management Inc. increased its holdings in SLB by 31.6% during the third quarter. Gables Capital Management Inc. now owns 1,250 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 300 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Stephane Biguet sold 61,017 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 value of $3,032,544.90. Following the completion of the transaction, the chief financial officer directly owned 155,548 shares of the company’s stock, valued at $7,730,735.60. This trade represents a 28.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the sale, the executive vice president owned 140,602 shares of the company’s stock, valued at $6,987,919.40. The trade was a 29.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 156,902 shares of company stock valued at $7,796,666. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SLB. BMO Capital Markets upped their target price on SLB from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Royal Bank Of Canada lifted their price target on SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, January 26th. UBS Group restated a “buy” rating on shares of SLB in a research note on Tuesday, January 27th. Citigroup raised their price objective on SLB from $53.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Finally, Stifel Nicolaus set a $56.00 target price on SLB in a research note on Monday, January 26th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.16.

SLB Stock Performance

Shares of SLB stock opened at $53.51 on Friday. SLB Limited has a 12-month low of $31.11 and a 12-month high of $53.70. The business’s fifty day simple moving average is $49.27 and its 200-day simple moving average is $41.33. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. The company has a market cap of $80.39 billion, a PE ratio of 22.58, a PEG ratio of 3.81 and a beta of 0.68.

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 analysts’ consensus estimates of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The firm had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.54 billion. During the same quarter last year, the firm earned $0.92 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts expect that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be paid a dividend of $0.295 per share. The ex-dividend date is Wednesday, February 11th. This is a positive change from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.2%. SLB’s payout ratio is presently 49.79%.

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.