SLB Limited $SLB Shares Purchased by New York Life Investment Management LLC

New York Life Investment Management LLC grew its stake in shares of SLB Limited (NYSE:SLB) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 216,121 shares of the oil and gas company’s stock after buying an additional 12,388 shares during the period. New York Life Investment Management LLC’s holdings in SLB were worth $7,428,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC purchased a new stake in SLB during the 2nd quarter worth about $25,000. Root Financial Partners LLC purchased a new position in SLB in the 3rd quarter valued at about $29,000. Corsicana & Co. purchased a new position in SLB in the 3rd quarter valued at about $31,000. Strengthening Families & Communities LLC acquired a new stake in shares of SLB during the 3rd quarter worth about $31,000. Finally, NewSquare Capital LLC grew its holdings in shares of SLB by 51.4% during the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock worth $34,000 after buying an additional 341 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Stock Down 0.5%

Shares of NYSE SLB opened at $50.31 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $75.23 billion, a PE ratio of 21.23, a P/E/G ratio of 3.44 and a beta of 0.73. The firm has a fifty day moving average of $43.44 and a 200-day moving average of $37.94. SLB Limited has a 52-week low of $31.11 and a 52-week high of $51.67.

SLB (NYSE:SLB) last issued its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $9.75 billion for the quarter, compared to analysts’ expectations of $9.54 billion. SLB had a return on equity of 17.45% and a net margin of 9.45%.The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 earnings per share. On average, analysts anticipate that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, February 11th. This is an increase from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio (DPR) is presently 48.10%.

Insider Buying and Selling at SLB

In related news, Director La Chevardiere Patrick De sold 4,000 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $50.29, for a total transaction of $201,160.00. Following the completion of the sale, the director owned 19,525 shares of the company’s stock, valued at approximately $981,912.25. This represents a 17.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Howard Guild sold 13,268 shares of SLB stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $659,419.60. Following the transaction, the chief accounting officer directly owned 22,407 shares in the company, valued at approximately $1,113,627.90. This trade represents a 37.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 200,849 shares of company stock worth $9,406,603. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SLB. Jefferies Financial Group upped their price objective on shares of SLB from $51.00 to $58.00 and gave the company a “buy” rating in a research note on Sunday, February 1st. Loop Capital set a $48.00 target price on shares of SLB in a research note on Tuesday, January 27th. Bank of America increased their price target on SLB from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Evercore set a $54.00 price objective on SLB and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Finally, Barclays lifted their price objective on SLB from $47.00 to $49.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, SLB currently has a consensus rating of “Moderate Buy” and an average target price of $52.38.

About SLB

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.