Short Interest in SLB Limited (NYSE:SLB) Increases By 16.0%

SLB Limited (NYSE:SLB) was the recipient of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 63,175,478 shares, an increase of 16.0% from the February 12th total of 54,457,251 shares. Currently, 4.2% of the company’s stock are short sold. Based on an average daily volume of 14,730,425 shares, the short-interest ratio is presently 4.3 days. Based on an average daily volume of 14,730,425 shares, the short-interest ratio is presently 4.3 days. Currently, 4.2% of the company’s stock are short sold.

Analyst Ratings Changes

Several analysts recently weighed in on SLB shares. Bank of America raised their target price on shares of SLB from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 26th. The Goldman Sachs Group boosted their price target on shares of SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. JPMorgan Chase & Co. increased their price objective on shares of SLB from $43.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Sanford C. Bernstein raised their price objective on shares of SLB from $52.30 to $56.10 and gave the company an “outperform” rating in a report on Thursday, March 12th. Finally, UBS Group reaffirmed a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.16.

SLB Price Performance

Shares of NYSE SLB opened at $46.13 on Wednesday. The stock’s 50-day simple moving average is $48.59 and its 200-day simple moving average is $40.60. The firm has a market capitalization of $69.31 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 3.17 and a beta of 0.68. SLB has a fifty-two week low of $31.11 and a fifty-two week high of $52.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33.

SLB (NYSE:SLB) last announced its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.54 billion. SLB had a return on equity of 17.45% and a net margin of 9.45%.The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 earnings per share. As a group, equities research analysts forecast that SLB will post 3.38 EPS for the current fiscal year.

SLB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be given a dividend of $0.295 per share. The ex-dividend date is Wednesday, February 11th. This represents a $1.18 annualized dividend and a dividend yield of 2.6%. This is a boost from SLB’s previous quarterly dividend of $0.29. SLB’s payout ratio is presently 49.79%.

Insider Activity

In related news, CFO Stephane Biguet sold 61,017 shares of the business’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $3,032,544.90. Following the completion of the transaction, the chief financial officer directly owned 155,548 shares of the company’s stock, valued at $7,730,735.60. The trade was a 28.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director La Chevardiere Patrick De sold 4,000 shares of the stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $50.29, for a total value of $201,160.00. Following the completion of the sale, the director directly owned 19,525 shares in the company, valued at $981,912.25. This represents a 17.00% 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 worth $7,796,666 over the last three months. Company insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. MV Capital Management Inc. purchased a new stake in SLB in the fourth quarter valued at $28,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of SLB during the second quarter worth about $25,000. Steph & Co. increased its position in shares of SLB by 97.5% during the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 394 shares in the last quarter. Strategic Wealth Advisors LLC acquired a new stake in shares of SLB during the fourth quarter worth about $30,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of SLB in the 4th quarter valued at about $31,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.