VCI Wealth Management LLC Acquires New Stake in SLB Limited $SLB

VCI Wealth Management LLC bought a new position in SLB Limited (NYSE:SLB) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 44,617 shares of the oil and gas company’s stock, valued at approximately $2,174,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Signature Equity Partners LLC raised its position in SLB by 42.5% in the 3rd quarter. Signature Equity Partners LLC now owns 751 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 224 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its stake in SLB by 24.4% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 66,262 shares of the oil and gas company’s stock worth $3,228,000 after purchasing an additional 13,015 shares during the last quarter. Nippon Life Global Investors Americas Inc. lifted its stake in SLB by 147.9% in the third quarter. Nippon Life Global Investors Americas Inc. now owns 171,740 shares of the oil and gas company’s stock worth $8,406,000 after purchasing an additional 102,450 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of SLB during the third quarter valued at approximately $90,918,000. Finally, Cidel Asset Management Inc. purchased a new position in shares of SLB during the third quarter valued at approximately $690,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Dianne B. Ralston sold 20,986 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $53.57, for a total value of $1,124,220.02. Following the completion of the transaction, the insider owned 205,053 shares of the company’s stock, valued at $10,984,689.21. The trade was a 9.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Howard Guild sold 10,047 shares of the company’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $53.65, for a total value of $539,021.55. Following the sale, the chief accounting officer owned 12,845 shares of the company’s stock, valued at approximately $689,134.25. This represents a 43.89% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SLB shares. Barclays cut their target price on SLB from $66.00 to $63.00 and set an “overweight” rating on the stock in a research note on Monday, October 26th. Freedom Broker raised SLB from a “sell” rating to a “hold” rating and set a $48.00 price target for the company in a research note on Monday, October 26th. Evercore boosted their price objective on SLB from $63.00 to $66.00 in a report on Thursday, October 8th. Raymond James Financial dropped their price objective on SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, July 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of SLB in a research report on Friday. Twenty-four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.52.

SLB Stock Down 2.8%

Shares of SLB stock opened at $52.25 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.39 and a quick ratio of 1.02. SLB Limited has a 1 year low of $34.65 and a 1 year high of $60.46. The firm’s 50-day moving average is $52.47 and its two-hundred day moving average is $51.40. The stock has a market cap of $77.55 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 2.95 and a beta of 0.83.

SLB (NYSE:SLB) last posted its earnings results on Friday, October 23rd. The oil and gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. SLB had a net margin of 8.40% and a return on equity of 13.77%. The business had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter last year, the firm posted $0.69 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, research analysts expect that SLB Limited will post 2.46 earnings per share for the current fiscal year.

SLB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Wednesday, December 2nd will be paid a dividend of $0.2950 per share. The ex-dividend date is Wednesday, December 2nd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. SLB’s dividend payout ratio (DPR) is currently 57.28%.

SLB Profile

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.