Perigon Wealth Management LLC Raises Holdings in SLB Limited $SLB

Perigon Wealth Management LLC increased its stake in shares of SLB Limited (NYSE:SLB) by 55.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,315 shares of the oil and gas company’s stock after acquiring an additional 14,359 shares during the quarter. Perigon Wealth Management LLC’s holdings in SLB were worth $1,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Aberdeen Group plc raised its holdings in SLB by 2.1% during the 4th quarter. Aberdeen Group plc now owns 1,665,074 shares of the oil and gas company’s stock valued at $63,906,000 after buying an additional 34,835 shares during the last quarter. Formidable Asset Management LLC grew its holdings in SLB by 48.7% in the 4th quarter. Formidable Asset Management LLC now owns 15,507 shares of the oil and gas company’s stock worth $595,000 after acquiring an additional 5,079 shares during the last quarter. Earned Wealth Advisors LLC purchased a new position in shares of SLB in the fourth quarter valued at about $282,000. Applied Capital LLC FL purchased a new position in shares of SLB in the fourth quarter valued at about $218,000. Finally, Bank Pictet & Cie Europe AG raised its stake in shares of SLB by 53.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,526,880 shares of the oil and gas company’s stock valued at $58,602,000 after acquiring an additional 529,932 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

SLB Trading Down 0.0%

Shares of SLB opened at $49.44 on Monday. SLB Limited has a 1-year low of $31.11 and a 1-year high of $54.80. 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 firm’s 50-day moving average price is $49.51 and its 200-day moving average price is $41.90. The firm has a market capitalization of $74.28 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 3.52 and a beta of 0.69.

SLB (NYSE:SLB) last released its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.54 billion. During the same period in the prior year, the firm earned $0.92 earnings per share. SLB’s revenue was up 5.0% on a year-over-year basis. Sell-side analysts anticipate that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th were given a $0.295 dividend. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $1.18 annualized dividend and a dividend yield of 2.4%. This is an increase from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio is currently 49.79%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SLB. Argus upgraded shares of SLB to a “strong-buy” rating in a report on Monday, January 26th. JPMorgan Chase & Co. upped their price target on SLB from $43.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Susquehanna increased their price objective on SLB from $52.00 to $58.00 and gave the stock a “positive” rating in a report on Monday, January 26th. BMO Capital Markets lifted their price objective on SLB from $53.00 to $55.00 and gave the stock an “outperform” 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 investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $53.16.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $2,982,000.00. Following the completion of the transaction, the executive vice president owned 140,602 shares in the company, valued at $6,987,919.40. This trade represents a 29.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director La Chevardiere Patrick De sold 4,000 shares of the company’s stock in a transaction on 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 sale, the director directly owned 19,525 shares in the company, valued at approximately $981,912.25. The trade was a 17.00% 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 worth $7,796,666 over the last quarter. Company insiders own 0.16% of the company’s stock.

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.