SLB Limited $SLB Shares Purchased by AMG National Trust Bank

AMG National Trust Bank grew its stake in shares of SLB Limited (NYSE:SLB) by 180.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,989 shares of the oil and gas company’s stock after acquiring an additional 73,324 shares during the period. AMG National Trust Bank’s holdings in SLB were worth $3,918,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SLB. Synergy Asset Management LLC lifted its holdings in shares of SLB by 100.0% in the third quarter. Synergy Asset Management LLC now owns 80,830 shares of the oil and gas company’s stock valued at $2,732,000 after buying an additional 40,415 shares during the period. Americana Partners LLC raised its position in SLB by 10.1% in the third quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company’s stock worth $8,526,000 after acquiring an additional 22,706 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of SLB by 13.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 210,056 shares of the oil and gas company’s stock valued at $7,220,000 after purchasing an additional 25,417 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of SLB by 4.9% in the 3rd quarter. Nordea Investment Management AB now owns 2,157,885 shares of the oil and gas company’s stock worth $72,354,000 after purchasing an additional 100,918 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG raised its holdings in shares of SLB by 1,937.4% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company’s stock worth $34,265,000 after purchasing an additional 948,015 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity at SLB

In other SLB news, CAO Howard Guild sold 13,268 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $659,419.60. Following the transaction, the chief accounting officer directly owned 22,407 shares in the company, valued at $1,113,627.90. This trade represents a 37.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dianne B. Ralston sold 18,617 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.50, for a total value of $921,541.50. Following the sale, 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 position. The SEC filing for this sale provides additional information. Insiders have sold a total of 162,402 shares of company stock worth $7,993,676 over the last quarter. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on SLB. JPMorgan Chase & Co. lifted their price target on shares of SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 target price on shares of SLB in a report on Wednesday, January 21st. Bank of America lifted their price target on SLB from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Rothschild & Co Redburn set a $48.00 target price on shares of SLB in a report on Monday, November 3rd. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $49.00 target price on shares of SLB in a research report on Wednesday, January 14th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.38.

SLB Trading Down 1.4%

NYSE SLB opened at $50.82 on Friday. 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 Limited has a 1-year low of $31.11 and a 1-year high of $52.40. The firm’s fifty day simple moving average is $45.37 and its 200-day simple moving average is $38.81. The company has a market capitalization of $75.99 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 3.50 and a beta of 0.73.

SLB (NYSE:SLB) last issued its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 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 firm had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.54 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 2.3%. This is a boost from SLB’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, February 11th. SLB’s dividend payout ratio is presently 49.79%.

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.