SLB Limited $SLB Shares Bought by Moran Wealth Management LLC

Moran Wealth Management LLC raised its stake in SLB Limited (NYSE:SLB) by 29.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 178,577 shares of the oil and gas company’s stock after purchasing an additional 40,985 shares during the period. Moran Wealth Management LLC’s holdings in SLB were worth $9,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Private Wealth Asset Management LLC lifted its holdings in shares of SLB by 4.1% in the 4th quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock valued at $193,000 after purchasing an additional 200 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in SLB by 9.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock worth $129,000 after buying an additional 214 shares during the last quarter. Ballentine Partners LLC increased its position in SLB by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock worth $395,000 after buying an additional 218 shares during the period. Davis Capital Management increased its position in SLB by 1.0% during the first quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company’s stock worth $1,129,000 after buying an additional 220 shares during the period. Finally, Bruce G. Allen Investments LLC lifted its stake in SLB by 37.0% in the fourth quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 227 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Trading Down 0.1%

NYSE SLB opened at $45.09 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $67.42 billion, a P/E ratio of 19.69, a P/E/G ratio of 1.82 and a beta of 0.72. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82. The firm has a 50-day moving average price of $53.51 and a 200 day moving average price of $49.60.

SLB (NYSE:SLB) last announced its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same quarter in the previous year, the company earned $0.72 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts expect that SLB Limited will post 2.6 EPS for the current year.

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be paid a $0.295 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.6%. SLB’s payout ratio is 51.53%.

Insider Buying and Selling

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the transaction, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the transaction, the director owned 16,953 shares of the company’s stock, valued at $921,056.49. The trade was a 10.55% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SLB shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $61.00 price objective on shares of SLB in a report on Tuesday, June 16th. UBS Group decreased their price target on shares of SLB from $69.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday. Sanford C. Bernstein raised their price objective on shares of SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Morgan Stanley set a $57.00 price objective on shares of SLB in a research note on Monday, April 27th. Finally, Evercore reaffirmed an “outperform” rating and set a $64.00 price objective on shares of SLB in a research note on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.17.

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.