Exchange Traded Concepts LLC Has $13.43 Million Holdings in SLB Limited $SLB

Exchange Traded Concepts LLC increased its stake in shares of SLB Limited (NYSE:SLB) by 24.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 349,846 shares of the oil and gas company’s stock after buying an additional 68,431 shares during the quarter. Exchange Traded Concepts LLC’s holdings in SLB were worth $13,427,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of SLB by 23.3% in the 3rd quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock valued at $6,371,335,000 after purchasing an additional 35,057,313 shares in the last quarter. Norges Bank acquired a new stake in shares of SLB during the 2nd quarter worth about $618,697,000. State Street Corp lifted its holdings in SLB by 7.0% during the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock valued at $2,898,037,000 after purchasing an additional 5,466,786 shares during the last quarter. Greenhaven Associates Inc. bought a new position in SLB during the 4th quarter valued at about $178,883,000. Finally, Caisse de depot et placement du Quebec boosted its position in SLB by 10,422.1% in the third quarter. Caisse de depot et placement du Quebec now owns 3,165,581 shares of the oil and gas company’s stock valued at $108,801,000 after buying an additional 3,135,496 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Stock Up 2.3%

NYSE SLB opened at $53.51 on Friday. The stock has a market capitalization of $80.39 billion, a P/E ratio of 22.58, a price-to-earnings-growth ratio of 3.81 and a beta of 0.68. SLB Limited has a 52 week low of $31.11 and a 52 week high of $53.70. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33. The stock has a fifty day moving average of $49.27 and a 200-day moving average of $41.33.

SLB (NYSE:SLB) last posted its quarterly earnings results 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. The business had revenue of $9.75 billion for the quarter, compared to analysts’ expectations of $9.54 billion. SLB had a return on equity of 17.45% and a net margin of 9.45%.The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.92 earnings per share. On average, equities research analysts forecast 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. Stockholders of record on Wednesday, February 11th will be paid a $0.295 dividend. This is a boost from SLB’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. SLB’s payout ratio is 49.79%.

Insider Activity at SLB

In other SLB news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $2,982,000.00. Following the transaction, the executive vice president directly owned 140,602 shares of the company’s stock, valued at approximately $6,987,919.40. This trade represents a 29.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 61,017 shares of SLB stock in a transaction 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 directly owned 155,548 shares of the company’s stock, valued at $7,730,735.60. This represents a 28.17% 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 over the last 90 days. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on SLB shares. Susquehanna raised their price objective on shares of SLB from $52.00 to $58.00 and gave the stock a “positive” rating in a report on Monday, January 26th. JPMorgan Chase & Co. increased their price target on SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Royal Bank Of Canada raised their price target on SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Evercore set a $54.00 price objective on SLB and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Finally, Barclays increased their target price on SLB from $47.00 to $49.00 and gave the stock an “overweight” rating 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

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.