Cantor Fitzgerald L. P. Buys New Position in SLB Limited $SLB

Cantor Fitzgerald L. P. purchased a new position in shares of SLB Limited (NYSE:SLB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,744 shares of the oil and gas company’s stock, valued at approximately $404,000.

Several other large investors also recently bought and sold shares of SLB. Synergy Asset Management LLC increased its holdings in shares of SLB by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 80,830 shares of the oil and gas company’s stock valued at $2,732,000 after acquiring an additional 40,415 shares during the last quarter. Americana Partners LLC boosted its holdings 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 purchasing an additional 22,706 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in SLB by 13.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 210,056 shares of the oil and gas company’s stock worth $7,220,000 after purchasing an additional 25,417 shares during the period. Nordea Investment Management AB increased its stake in SLB by 4.9% during the third quarter. Nordea Investment Management AB now owns 2,157,885 shares of the oil and gas company’s stock valued at $72,354,000 after purchasing an additional 100,918 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG raised its holdings in shares of SLB by 1,937.4% during the third 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 during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Stock Performance

Shares of NYSE SLB opened at $44.72 on Monday. SLB Limited has a 12-month low of $31.11 and a 12-month high of $52.45. The company has a market cap of $67.19 billion, a PE ratio of 18.87, a P/E/G ratio of 3.12 and a beta of 0.68. The stock has a 50 day simple moving average of $48.52 and a 200-day simple moving average of $40.47. 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 announced 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. SLB had a return on equity of 17.45% and a net margin of 9.45%.The company had revenue of $9.75 billion during the quarter, compared to analyst estimates of $9.54 billion. During the same quarter in the previous year, the firm posted $0.92 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities research analysts forecast that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders 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 represents a $1.18 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio (DPR) is currently 49.79%.

Analysts Set New Price Targets

Several research firms have recently commented on SLB. Loop Capital set a $48.00 price target on shares of SLB in a report on Tuesday, January 27th. JPMorgan Chase & Co. raised their target price on shares of SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Morgan Stanley restated an “overweight” rating and issued a $50.00 target price on shares of SLB in a research note on Wednesday, January 21st. Wall Street Zen cut SLB from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Stifel Nicolaus set a $56.00 price target on SLB in a report on Monday, January 26th. 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $53.16.

Insiders Place Their Bets

In related news, Director La Chevardiere Patrick De sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $50.29, for a total transaction of $201,160.00. Following the transaction, the director owned 19,525 shares in the company, valued at $981,912.25. This trade represents a 17.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dianne B. Ralston sold 18,617 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.50, for a total value of $921,541.50. Following the completion of the sale, the insider owned 224,097 shares of the company’s stock, valued at $11,092,801.50. This trade represents a 7.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 156,902 shares of company stock valued at $7,796,666. 0.16% of the stock is currently owned by insiders.

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.