NEOS Investment Management LLC Has $6.88 Million Stock Holdings in SLB Limited $SLB

NEOS Investment Management LLC grew its position in shares of SLB Limited (NYSE:SLB) by 47.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 200,233 shares of the oil and gas company’s stock after acquiring an additional 64,004 shares during the quarter. NEOS Investment Management LLC’s holdings in SLB were worth $6,882,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SLB. Brighton Jones LLC lifted its position in SLB by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after buying an additional 1,166 shares in the last quarter. Bison Wealth LLC bought a new position in shares of SLB in the 4th quarter valued at about $238,000. Stratos Wealth Partners LTD. increased its position in shares of SLB by 11.8% in the second quarter. Stratos Wealth Partners LTD. now owns 18,362 shares of the oil and gas company’s stock valued at $621,000 after acquiring an additional 1,934 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in SLB by 0.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 591,915 shares of the oil and gas company’s stock worth $20,254,000 after acquiring an additional 3,622 shares in the last quarter. Finally, Phoenix Financial Ltd. boosted its position in SLB by 35.6% during the second quarter. Phoenix Financial Ltd. now owns 7,533 shares of the oil and gas company’s stock valued at $257,000 after purchasing an additional 1,976 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SLB has been the subject of a number of analyst reports. 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 research note on Monday, January 26th. Susquehanna raised their target price on shares of SLB from $52.00 to $58.00 and gave the company a “positive” rating in a research note on Monday, January 26th. BMO Capital Markets boosted their target price on shares of SLB from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Bank of America upped their price target on shares of SLB from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, UBS Group reissued a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. Three investment 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 issued a Sell rating to the company. According to MarketBeat, SLB currently has an average rating of “Moderate Buy” and a consensus target price of $52.38.

Insider Activity at SLB

In other SLB news, EVP Abdellah Merad sold 60,000 shares of the business’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 transaction of $2,982,000.00. Following the completion of the transaction, the executive vice president directly owned 140,602 shares in the company, valued at $6,987,919.40. The trade was a 29.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephane Biguet sold 61,017 shares of the company’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $3,032,544.90. Following the sale, the chief financial officer owned 155,548 shares of the company’s stock, valued at $7,730,735.60. The trade was a 28.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 162,402 shares of company stock worth $7,993,676 in the last 90 days. Corporate insiders own 0.22% of the company’s stock.

SLB Stock Performance

NYSE:SLB opened at $51.58 on Thursday. The company has a market cap of $77.12 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 3.39 and a beta of 0.73. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $52.40. 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 price of $44.92 and a 200-day moving average price of $38.59.

SLB (NYSE:SLB) last issued its quarterly earnings results 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 return on equity of 17.45% and a net margin of 9.45%.The company had revenue of $9.75 billion for the quarter, compared to analysts’ expectations of $9.54 billion. During the same quarter last year, the business earned $0.92 earnings per share. SLB’s revenue was up 5.0% on a year-over-year basis. As a group, equities analysts anticipate that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Increases Dividend

The company 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 dividend of $0.295 per share. 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 dividend on an annualized basis and a dividend yield of 2.3%. SLB’s payout ratio is currently 49.79%.

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.