Aquatic Capital Management LLC Raises Position in SLB Limited $SLB

Aquatic Capital Management LLC lifted its holdings in SLB Limited (NYSE:SLB) by 310.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 346,202 shares of the oil and gas company’s stock after purchasing an additional 261,937 shares during the quarter. Aquatic Capital Management LLC’s holdings in SLB were worth $11,899,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SLB. Brighton Jones LLC boosted its stake in SLB by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after purchasing an additional 1,166 shares in the last quarter. Bison Wealth LLC purchased a new position in shares of SLB in the fourth quarter worth $238,000. Intrua Financial LLC raised its holdings in shares of SLB by 12.8% in the second quarter. Intrua Financial LLC now owns 7,978 shares of the oil and gas company’s stock worth $270,000 after buying an additional 907 shares during the last quarter. Empower Advisory Group LLC lifted its stake in shares of SLB by 13.9% during the second quarter. Empower Advisory Group LLC now owns 10,155 shares of the oil and gas company’s stock worth $343,000 after buying an additional 1,236 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of SLB by 95.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 333,587 shares of the oil and gas company’s stock worth $11,275,000 after buying an additional 163,231 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other SLB news, CFO Stephane Biguet sold 61,017 shares of the company’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 $3,032,544.90. Following the sale, the chief financial officer owned 155,548 shares in the company, valued at approximately $7,730,735.60. This represents a 28.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director La Chevardiere Patrick De sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $50.29, for a total transaction of $201,160.00. Following the sale, the director directly owned 19,525 shares in the company, valued at $981,912.25. The trade was a 17.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 156,902 shares of company stock valued at $7,796,666 in the last three months. 0.16% of the stock is currently owned by company insiders.

SLB Price Performance

Shares of SLB opened at $44.72 on Monday. The business’s 50-day moving average is $48.52 and its two-hundred day moving average is $40.47. The company has a market capitalization of $67.19 billion, a P/E ratio of 18.87, a P/E/G ratio of 3.12 and a beta of 0.68. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $52.45.

SLB (NYSE:SLB) last issued its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $9.54 billion. During the same quarter in the previous year, the firm posted $0.92 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Research analysts predict 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 will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be issued a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This is a boost from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a yield of 2.6%. SLB’s dividend payout ratio is presently 49.79%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SLB shares. Royal Bank Of Canada upped their target price on SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Stifel Nicolaus set a $56.00 price target on SLB in a research note on Monday, January 26th. Barclays increased their price objective on SLB from $47.00 to $49.00 and gave the company an “overweight” rating in a report on Monday, January 26th. The Goldman Sachs Group raised their price objective on SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Finally, Piper Sandler upped 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. Three research 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

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.