Goelzer Investment Management Inc. Decreases Stock Holdings in SLB Limited $SLB

Goelzer Investment Management Inc. lowered its holdings in SLB Limited (NYSE:SLB) by 63.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,758 shares of the oil and gas company’s stock after selling 45,952 shares during the period. Goelzer Investment Management Inc.’s holdings in SLB were worth $1,027,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SLB. Canoe Financial LP purchased a new stake in shares of SLB in the fourth quarter worth about $45,032,000. Chesley Taft & Associates LLC raised its holdings in shares of SLB by 11.2% during the 4th quarter. Chesley Taft & Associates LLC now owns 30,463 shares of the oil and gas company’s stock valued at $1,169,000 after buying an additional 3,075 shares during the period. LVW Advisors LLC acquired a new position in SLB during the 4th quarter worth approximately $220,000. Mirador Capital Partners LP lifted its position in SLB by 52.7% during the 4th quarter. Mirador Capital Partners LP now owns 12,877 shares of the oil and gas company’s stock worth $494,000 after acquiring an additional 4,442 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in SLB by 24.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 349,846 shares of the oil and gas company’s stock worth $13,427,000 after acquiring an additional 68,431 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on SLB shares. Barclays increased their price objective on shares of SLB from $47.00 to $49.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Piper Sandler upped their target price on shares of SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. UBS Group reaffirmed a “buy” rating on shares of SLB in a report on Tuesday, January 27th. Argus upgraded shares of SLB to a “strong-buy” rating in a report on Monday, January 26th. Finally, Jefferies Financial Group upped their price objective on shares of SLB from $51.00 to $58.00 and gave the company a “buy” rating in a research report on Sunday, February 1st. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $53.16.

Insider Buying and Selling at SLB

In related news, CAO Howard Guild sold 13,268 shares of the stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $659,419.60. Following the sale, the chief accounting officer owned 22,407 shares in the company, valued at $1,113,627.90. This represents a 37.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director La Chevardiere Patrick De sold 4,000 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $50.29, for a total transaction of $201,160.00. Following the completion of the transaction, the director directly owned 19,525 shares in the company, valued at $981,912.25. This represents a 17.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 156,902 shares of company stock worth $7,796,666. 0.16% of the stock is owned by company insiders.

SLB Stock Performance

SLB stock opened at $53.51 on Monday. The stock’s 50 day simple moving average is $49.27 and its 200 day simple moving average is $41.37. SLB Limited has a 12-month low of $31.11 and a 12-month high of $53.70. The firm has a market cap of $80.39 billion, a P/E ratio of 22.58, a P/E/G ratio of 3.81 and a beta of 0.68. 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 released its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. SLB had a net margin of 9.45% and a return on equity of 17.45%. The firm had revenue of $9.75 billion during 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 firm’s revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts predict that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be issued 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 dividend payout ratio (DPR) 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.