Waterfront Wealth Inc. Takes Position in SLB Limited $SLB

Waterfront Wealth Inc. acquired a new stake in SLB Limited (NYSE:SLB) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 31,789 shares of the oil and gas company’s stock, valued at approximately $1,634,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Abel Hall LLC grew its position in SLB by 2.7% in the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock valued at $387,000 after buying an additional 198 shares during the last quarter. Private Wealth Asset Management LLC increased its stake in 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 in the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of 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 raised 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 acquiring an additional 218 shares during the last quarter. Finally, Davis Capital Management raised its position in shares of SLB by 1.0% during the 1st quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company’s stock worth $1,129,000 after purchasing an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SLB shares. Morgan Stanley set a $57.00 target price on shares of SLB in a research note on Monday, April 27th. TD Cowen lowered their price target on SLB from $66.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. BMO Capital Markets raised their price objective on SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of SLB in a research note on Tuesday, June 16th. Finally, Stifel Nicolaus lifted their price objective on SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.74.

Insider Buying and Selling at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the transaction, the executive vice president owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $54.33, for a total transaction 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. This represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.16% of the company’s stock.

SLB Stock Performance

Shares of NYSE SLB opened at $47.27 on Friday. The stock has a market capitalization of $70.67 billion, a P/E ratio of 20.64, a P/E/G ratio of 1.92 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 company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $52.81 and its two-hundred day moving average price is $49.91.

SLB (NYSE:SLB) last released its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) 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 business had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, sell-side analysts forecast that SLB Limited will post 2.6 earnings per share for the current year.

SLB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd were given a dividend of $0.295 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. SLB’s payout ratio is currently 51.53%.

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.