SLB Limited $SLB Stake Raised by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC increased its holdings in SLB Limited (NYSE:SLBFree Report) by 109.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,074 shares of the oil and gas company’s stock after acquiring an additional 9,970 shares during the period. Aaron Wealth Advisors LLC’s holdings in SLB were worth $732,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Synergy Asset Management LLC grew its stake 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 buying an additional 40,415 shares in the last quarter. Americana Partners LLC raised its position in SLB by 10.1% during the third quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company’s stock valued at $8,526,000 after acquiring an additional 22,706 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in SLB by 13.8% during the third 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 acquiring an additional 25,417 shares in the last quarter. Nordea Investment Management AB lifted its stake in SLB by 4.9% in 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 acquiring an additional 100,918 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG grew its position in SLB by 1,937.4% in 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 acquiring an additional 948,015 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at SLB

In other news, CFO Stephane Biguet sold 61,017 shares of SLB stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $3,032,544.90. Following the sale, the chief financial officer owned 155,548 shares of the company’s stock, valued at approximately $7,730,735.60. This trade represents a 28.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dianne B. Ralston sold 18,617 shares of SLB 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 sale, the insider directly owned 224,097 shares in the company, valued at $11,092,801.50. The trade was a 7.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 156,902 shares of company stock worth $7,796,666 in the last three months. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on SLB shares. Argus raised shares of SLB to a “strong-buy” rating in a research report on Monday, January 26th. Royal Bank Of Canada raised their price objective on SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. JPMorgan Chase & Co. raised their price objective on SLB from $43.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Morgan Stanley reissued an “overweight” rating and issued a $50.00 price objective on shares of SLB in a research note on Wednesday, January 21st. Finally, Sanford C. Bernstein raised their price objective on SLB from $52.30 to $56.10 and gave the company an “outperform” rating in a research note on Thursday, March 12th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, SLB presently has a consensus rating of “Moderate Buy” and an average price target of $53.27.

Get Our Latest Stock Report on SLB

Key Headlines Impacting SLB

Here are the key news stories impacting SLB this week:

SLB Stock Performance

Shares of NYSE SLB opened at $51.88 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $49.56 and its two-hundred day moving average is $42.19. The company has a market cap of $77.96 billion, a P/E ratio of 21.89, a P/E/G ratio of 3.52 and a beta of 0.69. SLB Limited has a 12 month low of $31.11 and a 12 month high of $54.80.

SLB (NYSE:SLBGet Free Report) last issued its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. The company had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.54 billion. SLB had a return on equity of 17.45% and a net margin of 9.45%.The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 EPS. On average, equities analysts expect that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th were issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, February 11th. This is a boost from SLB’s previous quarterly dividend of $0.29. SLB’s payout ratio is 49.79%.

About SLB

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for SLB (NYSE:SLB)

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