17,538 Shares in SLB Limited $SLB Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC acquired a new position in shares of SLB Limited (NYSE:SLB) in the 4th quarter, HoldingsChannel reports. The firm acquired 17,538 shares of the oil and gas company’s stock, valued at approximately $673,000.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in SLB by 23.3% in the 3rd quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock valued at $6,371,335,000 after purchasing an additional 35,057,313 shares during the last quarter. State Street Corp boosted its stake in SLB by 7.0% during the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock worth $2,898,037,000 after purchasing an additional 5,466,786 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in SLB by 25.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company’s stock worth $528,217,000 after purchasing an additional 3,094,764 shares during the last quarter. Northern Trust Corp grew its holdings in shares of SLB by 10.7% during the third quarter. Northern Trust Corp now owns 15,359,990 shares of the oil and gas company’s stock worth $527,923,000 after buying an additional 1,490,859 shares in the last quarter. Finally, Amundi grew its holdings in shares of SLB by 24.4% during the third quarter. Amundi now owns 14,198,874 shares of the oil and gas company’s stock worth $491,139,000 after buying an additional 2,783,134 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Transactions at SLB

In other SLB news, CAO Howard Guild sold 13,268 shares of SLB stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $659,419.60. Following the sale, the chief accounting officer owned 22,407 shares in the company, valued at $1,113,627.90. The trade was a 37.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephane Biguet sold 61,017 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 $3,032,544.90. Following the completion of the transaction, the chief financial officer directly owned 155,548 shares in the company, valued at approximately $7,730,735.60. This trade represents a 28.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 156,902 shares of company stock valued at $7,796,666 in the last ninety days. 0.16% of the stock is currently owned by corporate insiders.

SLB Price Performance

SLB stock opened at $51.47 on Tuesday. SLB Limited has a 12-month low of $31.11 and a 12-month high of $54.80. The stock has a market cap of $77.34 billion, a P/E ratio of 21.72, a PEG ratio of 3.81 and a beta of 0.68. The company has a 50-day moving average price of $49.36 and a 200 day moving average price of $41.48. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36.

SLB (NYSE:SLB) last posted its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $9.54 billion. During the same period in the previous year, the business posted $0.92 EPS. SLB’s revenue was up 5.0% on a year-over-year basis. Sell-side analysts anticipate that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The firm also recently disclosed 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. This represents a $1.18 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, February 11th. SLB’s payout ratio is currently 49.79%.

Analyst Ratings Changes

SLB has been the topic of several research reports. Susquehanna raised their price target on shares of SLB from $52.00 to $58.00 and gave the stock a “positive” rating in a research note on Monday, January 26th. The Goldman Sachs Group upped their price objective on shares of SLB from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Morgan Stanley reissued an “overweight” rating and issued a $50.00 target price on shares of SLB in a research note on Wednesday, January 21st. Royal Bank Of Canada boosted their target price on SLB from $51.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Finally, Bank of America upped their price target on SLB from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Three research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

SLB Company 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.