SLB Limited $SLB is MQS Management LLC’s 3rd Largest Position

MQS Management LLC increased its holdings in SLB Limited (NYSE:SLB) by 246.4% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 34,907 shares of the oil and gas company’s stock after buying an additional 24,830 shares during the quarter. SLB comprises approximately 0.7% of MQS Management LLC’s portfolio, making the stock its 3rd biggest position. MQS Management LLC’s holdings in SLB were worth $1,200,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Twin Peaks Wealth Advisors LLC purchased a new stake in SLB in the second quarter worth approximately $25,000. Root Financial Partners LLC bought a new position in shares of SLB during the 3rd quarter valued at $29,000. Corsicana & Co. purchased a new position in shares of SLB in the 3rd quarter worth $31,000. Strengthening Families & Communities LLC bought a new stake in shares of SLB in the third quarter worth $31,000. Finally, NewSquare Capital LLC increased its position in shares of SLB by 51.4% during the 2nd quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 341 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Activity at SLB

In related news, insider Dianne B. Ralston sold 18,617 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.50, for a total transaction of $921,541.50. Following the sale, the insider owned 224,097 shares in the company, valued at approximately $11,092,801.50. This represents a 7.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Abdellah Merad sold 60,000 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 $2,982,000.00. Following the completion of the sale, the executive vice president owned 140,602 shares of the company’s stock, valued at approximately $6,987,919.40. This represents a 29.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 200,849 shares of company stock valued at $9,406,603 over the last ninety days. 0.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SLB has been the topic of several analyst reports. Jefferies Financial Group lifted their price target on shares of SLB from $51.00 to $58.00 and gave the stock a “buy” rating in a research note on Sunday, February 1st. Piper Sandler lifted their target price on SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. UBS Group restated a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. Rothschild & Co Redburn set a $48.00 price objective on SLB in a research report on Monday, November 3rd. Finally, TD Cowen raised their target price on shares of SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.38.

SLB Stock Down 0.5%

Shares of SLB stock opened at $50.31 on Wednesday. The company’s fifty day simple moving average is $43.44 and its two-hundred day simple moving average is $37.94. SLB Limited has a 52 week low of $31.11 and a 52 week high of $51.67. The stock has a market cap of $75.23 billion, a P/E ratio of 21.23, a PEG ratio of 3.44 and a beta of 0.73. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36.

SLB (NYSE:SLB) last posted its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $9.75 billion during the quarter, compared to analyst estimates of $9.54 billion. SLB had a net margin of 9.45% and a return on equity of 17.45%. SLB’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. Analysts predict that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This is an increase from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 2.3%. SLB’s payout ratio is presently 48.10%.

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.