SLB (NYSE:SLB) Sets New 52-Week High – Here’s Why

SLB Limited (NYSE:SLB) hit a new 52-week high during trading on Tuesday . The stock traded as high as $45.16 and last traded at $43.7840, with a volume of 56280285 shares trading hands. The stock had previously closed at $40.20.

Wall Street Analyst Weigh In

SLB has been the subject of several recent research reports. Cowen reissued a “buy” rating and set a $57.00 target price on shares of SLB in a report on Thursday, December 11th. Redburn Partners set a $48.00 price target on SLB in a research report on Monday, November 3rd. Barclays decreased their price objective on SLB from $48.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Zacks Research raised SLB from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Finally, TD Cowen boosted their price target on SLB from $56.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.42.

SLB Trading Up 8.9%

The stock has a market cap of $65.41 billion, a PE ratio of 16.91 and a beta of 0.72. 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 $37.44 and a two-hundred day moving average of $35.59.

SLB (NYSE:SLB) last issued its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02. The company had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. SLB had a return on equity of 18.97% and a net margin of 10.34%.SLB’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.89 earnings per share. Sell-side analysts anticipate that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be paid 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 yield of 2.6%. SLB’s dividend payout ratio (DPR) is currently 44.02%.

Insiders Place Their Bets

In other SLB news, CFO Stephane Biguet sold 38,447 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $36.75, for a total transaction of $1,412,927.25. Following the transaction, the chief financial officer directly owned 175,690 shares of the company’s stock, valued at $6,456,607.50. This trade represents a 17.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter John Coleman sold 5,500 shares of SLB stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total transaction of $197,010.00. Following the completion of the sale, the director owned 18,671 shares in the company, valued at approximately $668,795.22. This trade represents a 22.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 103,947 shares of company stock worth $3,871,337. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On SLB

Hedge funds and other institutional investors have recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC acquired a new position in SLB during the second quarter worth $25,000. Root Financial Partners LLC acquired a new stake in SLB in the third quarter valued at $29,000. Atticus Wealth Management LLC purchased a new position in shares of SLB in the second quarter valued at $29,000. Corsicana & Co. acquired a new position in shares of SLB during the 3rd quarter worth $31,000. Finally, Strengthening Families & Communities LLC acquired a new position in shares of SLB during the 3rd quarter worth $31,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.