Kingsview Wealth Management LLC Grows Stock Holdings in SLB Limited $SLB

Kingsview Wealth Management LLC raised its stake in shares of SLB Limited (NYSE:SLB) by 335.9% in the 2nd quarter, Holdings Channel reports. The fund owned 94,097 shares of the oil and gas company’s stock after acquiring an additional 72,512 shares during the quarter. Kingsview Wealth Management LLC’s holdings in SLB were worth $3,180,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of SLB. Charles Schwab Investment Management Inc. raised its stake in shares of SLB by 478.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock worth $1,994,674,000 after purchasing an additional 39,474,501 shares during the last quarter. Boston Partners raised its position in SLB by 27.7% during the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock worth $824,160,000 after buying an additional 4,300,222 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of SLB by 211.1% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company’s stock worth $250,507,000 after acquiring an additional 4,066,500 shares during the period. Nuveen LLC purchased a new stake in shares of SLB in the first quarter valued at about $169,232,000. Finally, Banque Transatlantique SA increased its stake in shares of SLB by 21,737.8% during the first quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company’s stock worth $71,821,000 after acquiring an additional 1,850,760 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling at SLB

In related news, CFO Stephane Biguet sold 38,447 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $36.75, for a total transaction of $1,412,927.25. Following the completion of the sale, the chief financial officer owned 175,690 shares in the company, valued at $6,456,607.50. This represents a 17.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total value of $2,261,400.00. Following the completion of the transaction, the executive vice president directly owned 159,371 shares in the company, valued at approximately $6,006,692.99. This represents a 27.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 138,174 shares of company stock worth $5,107,677 over the last ninety days. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. UBS Group reaffirmed a “buy” rating and set a $44.00 price target on shares of SLB in a research note on Tuesday, October 21st. Barclays increased their target price on SLB from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. JPMorgan Chase & Co. decreased their price objective on shares of SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Finally, Rothschild & Co Redburn started coverage on shares of SLB in a research report on Monday, November 3rd. They issued a “buy” rating and a $48.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.28.

SLB Price Performance

Shares of NYSE:SLB opened at $36.03 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. SLB Limited has a 1 year low of $31.11 and a 1 year high of $44.97. The business has a fifty day simple moving average of $35.04 and a 200 day simple moving average of $34.80. The firm has a market cap of $53.83 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 10.19 and a beta of 0.97.

SLB (NYSE:SLB) last posted its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The firm had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.99 billion. During the same period in the previous year, the company earned $0.89 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, sell-side analysts predict that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, December 3rd. SLB’s dividend payout ratio (DPR) is 44.02%.

SLB Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.