L2 Asset Management LLC Purchases 51,468 Shares of SLB Limited $SLB

L2 Asset Management LLC increased its position in shares of SLB Limited (NYSE:SLB) by 172.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,361 shares of the oil and gas company’s stock after acquiring an additional 51,468 shares during the quarter. L2 Asset Management LLC’s holdings in SLB were worth $2,796,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in SLB by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after purchasing an additional 1,166 shares during the last quarter. Bison Wealth LLC acquired a new position in shares of SLB during the fourth quarter worth $238,000. Empower Advisory Group LLC lifted its holdings in shares of SLB by 13.9% during the 2nd quarter. Empower Advisory Group LLC now owns 10,155 shares of the oil and gas company’s stock valued at $343,000 after purchasing an additional 1,236 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of SLB by 95.8% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 333,587 shares of the oil and gas company’s stock worth $11,275,000 after purchasing an additional 163,231 shares in the last quarter. Finally, Creative Planning boosted its position in shares of SLB by 19.0% in the 2nd quarter. Creative Planning now owns 254,211 shares of the oil and gas company’s stock worth $8,592,000 after purchasing an additional 40,591 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SLB. Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 target price on shares of SLB in a research report on Wednesday, January 21st. Royal Bank Of Canada raised their price target on SLB from $51.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Piper Sandler boosted their price target on SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Loop Capital set a $48.00 price objective on shares of SLB in a report on Tuesday, January 27th. Finally, Jefferies Financial Group increased 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 equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $53.16.

SLB Stock Performance

Shares of SLB opened at $44.95 on Tuesday. 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 50-day moving average of $48.54 and a two-hundred day moving average of $40.53. The stock has a market cap of $67.53 billion, a P/E ratio of 18.96, a P/E/G ratio of 3.12 and a beta of 0.68. SLB Limited has a one year low of $31.11 and a one year high of $52.45.

SLB (NYSE:SLB) last announced its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, beating 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 business had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.54 billion. During the same period in the prior year, the company earned $0.92 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. As a group, 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. Investors 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 is Wednesday, February 11th. This represents a $1.18 annualized dividend and a yield of 2.6%. SLB’s dividend payout ratio is currently 49.79%.

Insider Activity at SLB

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction 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 sale, the executive vice president directly owned 140,602 shares of the company’s stock, valued at $6,987,919.40. This represents a 29.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephane Biguet sold 61,017 shares of the firm’s 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 transaction, the chief financial officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 156,902 shares of company stock worth $7,796,666 in the last ninety days. 0.16% of the stock is owned by company 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.