SLB Limited $SLB Shares Acquired by Gabelli Funds LLC

Gabelli Funds LLC lifted its holdings in SLB Limited (NYSE:SLB) by 9.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 839,723 shares of the oil and gas company’s stock after buying an additional 75,785 shares during the quarter. Gabelli Funds LLC’s holdings in SLB were worth $28,861,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Twin Peaks Wealth Advisors LLC acquired a new stake in SLB in the second quarter valued at $25,000. Root Financial Partners LLC purchased a new stake in shares of SLB during the 3rd quarter worth $29,000. Corsicana & Co. acquired a new position in shares of SLB during the 3rd quarter worth $31,000. Strengthening Families & Communities LLC purchased a new position in shares of SLB in the 3rd quarter valued at about $31,000. Finally, SouthState Bank Corp increased its holdings in shares of SLB by 57.4% in the 3rd quarter. SouthState Bank Corp now owns 1,212 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 442 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of research analyst reports. Wall Street Zen raised shares of SLB from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. JPMorgan Chase & Co. increased their target price on shares of SLB from $43.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Evercore set a $54.00 price target on shares of SLB and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Argus upgraded SLB to a “strong-buy” rating in a report on Monday, January 26th. Finally, BMO Capital Markets raised their price objective on SLB from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Three equities 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 given a Sell rating to the stock. According to MarketBeat, SLB has a consensus rating of “Moderate Buy” and an average price target of $52.96.

Insider Transactions at SLB

In other SLB news, CAO Howard Guild sold 13,268 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 $659,419.60. Following the completion of the transaction, the chief accounting officer owned 22,407 shares of the company’s stock, valued at approximately $1,113,627.90. This trade represents a 37.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Stephane Biguet sold 61,017 shares of the business’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 completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 156,902 shares of company stock worth $7,796,666 in the last quarter. Insiders own 0.22% of the company’s stock.

SLB Price Performance

Shares of NYSE SLB opened at $46.86 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $47.73 and its 200 day moving average price is $40.03. SLB Limited has a 52 week low of $31.11 and a 52 week high of $52.45. The stock has a market cap of $70.41 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 3.19 and a beta of 0.68.

SLB (NYSE:SLB) last announced its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (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 company had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.54 billion. During the same quarter in the previous year, the business posted $0.92 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, research analysts forecast that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be given a dividend of $0.295 per share. The ex-dividend date is Wednesday, February 11th. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. This is an increase from SLB’s previous quarterly dividend of $0.29. SLB’s payout ratio is presently 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.