SLB Limited $SLB Shares Purchased by Assetmark Inc.

Assetmark Inc. boosted its holdings in SLB Limited (NYSE:SLB) by 20.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 68,051 shares of the oil and gas company’s stock after buying an additional 11,490 shares during the period. Assetmark Inc.’s holdings in SLB were worth $2,339,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SLB. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of SLB during the 2nd quarter worth $25,000. Root Financial Partners LLC purchased a new stake in shares of SLB during the 3rd quarter valued at about $29,000. Corsicana & Co. purchased a new stake in shares of SLB during the third quarter valued at approximately $31,000. Strengthening Families & Communities LLC purchased a new stake in SLB during the 3rd quarter worth $31,000. Finally, NewSquare Capital LLC lifted its stake in shares of SLB by 51.4% in the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Price Performance

Shares of SLB stock opened at $51.58 on Thursday. SLB Limited has a 12 month low of $31.11 and a 12 month high of $52.40. The company has a market capitalization of $77.12 billion, a P/E ratio of 21.76, a P/E/G ratio of 3.39 and a beta of 0.73. The stock has a 50 day moving average of $44.92 and a two-hundred day moving average of $38.59. 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 released its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, beating 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 business had revenue of $9.75 billion for the quarter, compared to analysts’ expectations of $9.54 billion. During the same period in the previous year, the business posted $0.92 earnings per share. SLB’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities analysts expect that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be paid a $0.295 dividend. 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 dividend on an annualized basis and a yield of 2.3%. SLB’s payout ratio is presently 49.79%.

Insider Transactions at SLB

In other news, CFO Stephane Biguet sold 61,017 shares of the 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 $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 approximately $7,730,735.60. This represents a 28.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter John Coleman sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $35.82, for a total value of $197,010.00. Following the transaction, the director owned 18,671 shares of the company’s stock, valued at $668,795.22. This trade represents a 22.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 162,402 shares of company stock valued at $7,993,676. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Jefferies Financial Group upped their price target on shares of SLB from $51.00 to $58.00 and gave the company a “buy” rating in a report on Sunday, February 1st. UBS Group reiterated a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. Sanford C. Bernstein lifted their price target on SLB from $47.60 to $52.30 and gave the company an “outperform” rating in a report on Thursday, December 11th. Piper Sandler upped their price objective on SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Finally, Argus upgraded SLB to a “strong-buy” rating in a report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, SLB has an average rating of “Moderate Buy” and an average target price of $52.38.

SLB 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.