Bingham Private Wealth LLC Takes Position in SLB Limited $SLB

Bingham Private Wealth LLC acquired a new stake in shares of SLB Limited (NYSE:SLB) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 9,996 shares of the oil and gas company’s stock, valued at approximately $384,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of SLB by 23.3% during the third quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock valued at $6,371,335,000 after purchasing an additional 35,057,313 shares in the last quarter. State Street Corp lifted its position in SLB by 7.0% during the third quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock valued at $2,898,037,000 after acquiring an additional 5,466,786 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in SLB by 25.2% during the third quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company’s stock valued at $528,217,000 after acquiring an additional 3,094,764 shares during the last quarter. Northern Trust Corp lifted its position in SLB by 10.7% during the third quarter. Northern Trust Corp now owns 15,359,990 shares of the oil and gas company’s stock valued at $527,923,000 after acquiring an additional 1,490,859 shares during the last quarter. Finally, Amundi lifted its position in SLB by 24.4% during the third quarter. Amundi now owns 14,198,874 shares of the oil and gas company’s stock valued at $491,139,000 after acquiring an additional 2,783,134 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

SLB Trading Down 0.8%

NYSE SLB opened at $51.50 on Wednesday. The company has a fifty day simple moving average of $49.83 and a two-hundred day simple moving average of $42.73. The stock has a market cap of $77.38 billion, a P/E ratio of 21.73, a P/E/G ratio of 3.74 and a beta of 0.69. SLB Limited has a 12-month low of $31.64 and a 12-month 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.

SLB (NYSE:SLB) last posted 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. The business had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.54 billion. SLB had a net margin of 9.45% and a return on equity of 17.45%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company posted $0.92 earnings per share. On average, analysts forecast that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th were 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 2.3%. The ex-dividend date of this dividend was Wednesday, February 11th. SLB’s dividend payout ratio is 49.79%.

Insiders Place Their Bets

In other SLB news, insider Dianne B. Ralston sold 18,617 shares of the firm’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $49.50, for a total value of $921,541.50. Following the completion of the transaction, the insider owned 224,097 shares of the company’s stock, valued at approximately $11,092,801.50. This trade represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director La Chevardiere Patrick De sold 4,000 shares of the firm’s 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 completion of the transaction, the director directly owned 19,525 shares of the company’s stock, valued at approximately $981,912.25. This represents a 17.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 156,902 shares of company stock valued at $7,796,666. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on shares of SLB from $43.00 to $54.00 and gave the company an “overweight” rating in a research 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. Loop Capital set a $48.00 target price on shares of SLB in a research report on Tuesday, January 27th. Barclays increased their target price on shares of SLB from $47.00 to $49.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Finally, Royal Bank Of Canada increased their target price on shares of SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.27.

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.