SLB Limited $SLB Stock Holdings Increased by Synergy Asset Management LLC

Synergy Asset Management LLC increased its stake in shares of SLB Limited (NYSE:SLB) by 100.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 80,830 shares of the oil and gas company’s stock after purchasing an additional 40,415 shares during the quarter. Synergy Asset Management LLC’s holdings in SLB were worth $2,732,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Assetmark Inc. increased its stake in shares of SLB by 19.5% in the second quarter. Assetmark Inc. now owns 56,561 shares of the oil and gas company’s stock worth $1,912,000 after purchasing an additional 9,210 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in SLB by 1,937.4% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company’s stock valued at $34,265,000 after buying an additional 948,015 shares during the last quarter. Shell Asset Management Co. increased its position in SLB by 48.1% in the 2nd quarter. Shell Asset Management Co. now owns 62,737 shares of the oil and gas company’s stock worth $2,121,000 after buying an additional 20,387 shares during the period. Godsey & Gibb Inc. increased its position in SLB by 9.6% in the 2nd quarter. Godsey & Gibb Inc. now owns 493,092 shares of the oil and gas company’s stock worth $16,667,000 after buying an additional 43,135 shares during the period. Finally, Emerald Advisors LLC acquired a new position in shares of SLB during the second quarter worth approximately $352,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the topic of several research analyst reports. Sanford C. Bernstein raised their price objective on shares of SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a research note on Thursday, December 11th. Citigroup increased their price target on shares of SLB from $47.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, December 11th. TD Cowen raised their price target on shares of SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. UBS Group boosted their price objective on shares of SLB from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, Rothschild Redb upgraded shares of SLB to a “strong-buy” rating in a research note on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.42.

SLB Price Performance

NYSE:SLB opened at $40.19 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. The company has a 50-day moving average of $37.28 and a 200-day moving average of $35.54. SLB Limited has a 52 week low of $31.11 and a 52 week high of $44.66. The company has a market capitalization of $60.04 billion, a price-to-earnings ratio of 15.52 and a beta of 0.73.

SLB (NYSE:SLB) last posted its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 earnings per share. As a group, equities research analysts anticipate that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.8%. SLB’s dividend payout ratio is presently 44.02%.

Insider Transactions at SLB

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the completion of the transaction, the executive vice president owned 159,371 shares in the company, valued at $6,006,692.99. This trade represents a 27.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephane Biguet sold 38,447 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $36.75, for a total value of $1,412,927.25. Following the completion of the sale, the chief financial officer directly owned 175,690 shares in the company, valued at approximately $6,456,607.50. This represents a 17.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 103,947 shares of company stock valued at $3,871,337. Corporate insiders own 0.22% of the company’s stock.

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.