Wealth Enhancement Advisory Services LLC Purchases 46,793 Shares of SLB Limited $SLB

Wealth Enhancement Advisory Services LLC grew its holdings in shares of SLB Limited (NYSE:SLB) by 29.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 207,267 shares of the oil and gas company’s stock after purchasing an additional 46,793 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in SLB were worth $7,955,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SLB. Twin Peaks Wealth Advisors LLC purchased a new stake in SLB during the second quarter valued at approximately $25,000. Root Financial Partners LLC bought a new position in SLB in the 3rd quarter worth $29,000. Corsicana & Co. bought a new stake in SLB during the third quarter valued at about $31,000. Strengthening Families & Communities LLC purchased a new stake in SLB in the third quarter worth about $31,000. Finally, SouthState Bank Corp raised its stake in shares of SLB by 57.4% in the third quarter. SouthState Bank Corp now owns 1,212 shares of the oil and gas company’s stock worth $42,000 after buying an additional 442 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In related news, 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 transaction, the director owned 19,525 shares of the company’s stock, valued at approximately $981,912.25. This trade represents a 17.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephane Biguet sold 61,017 shares of SLB stock in a transaction dated Monday, January 26th. The stock was 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 owned 155,548 shares of the company’s stock, valued at approximately $7,730,735.60. This represents a 28.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 156,902 shares of company stock worth $7,796,666. Insiders own 0.16% of the company’s stock.

SLB Trading Up 2.3%

Shares of SLB stock opened at $53.51 on Friday. SLB Limited has a twelve month low of $31.11 and a twelve month high of $53.70. 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 business has a 50-day moving average price of $49.27 and a 200-day moving average price of $41.30. The firm has a market cap of $80.39 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 3.72 and a beta of 0.68.

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

SLB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.2%. This is an increase from SLB’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, February 11th. SLB’s dividend payout ratio (DPR) is 49.79%.

Analysts Set New Price Targets

SLB has been the subject of several analyst reports. Barclays increased their target price on shares of SLB from $47.00 to $49.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Citigroup lifted their target price on shares of SLB from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Loop Capital set a $48.00 target price on shares of SLB in a report on Tuesday, January 27th. Sanford C. Bernstein raised their price target on SLB from $52.30 to $56.10 and gave the company an “outperform” rating in a report on Thursday, March 12th. Finally, BMO Capital Markets boosted their price objective on SLB from $53.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, SLB currently has a consensus rating of “Moderate Buy” and an average price target of $53.16.

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.