Public Sector Pension Investment Board Purchases 41,782 Shares of SLB Limited $SLB

Public Sector Pension Investment Board raised its holdings in shares of SLB Limited (NYSE:SLB) by 7.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 614,700 shares of the oil and gas company’s stock after buying an additional 41,782 shares during the period. Public Sector Pension Investment Board’s holdings in SLB were worth $21,127,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Howard Capital Management Inc. boosted its holdings in SLB by 3.2% during the 3rd quarter. Howard Capital Management Inc. now owns 9,165 shares of the oil and gas company’s stock valued at $315,000 after acquiring an additional 288 shares during the period. Fielder Capital Group LLC lifted its position in shares of SLB by 2.5% during the third quarter. Fielder Capital Group LLC now owns 12,137 shares of the oil and gas company’s stock worth $417,000 after purchasing an additional 293 shares during the last quarter. Hedges Asset Management LLC boosted its stake in shares of SLB by 0.9% during the third quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock valued at $1,203,000 after purchasing an additional 300 shares during the period. Gables Capital Management Inc. boosted its stake in shares of SLB by 31.6% during the third quarter. Gables Capital Management Inc. now owns 1,250 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 300 shares during the period. Finally, Legacy Wealth Asset Management LLC grew its holdings in shares of SLB by 2.2% in the second quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock worth $486,000 after purchasing an additional 308 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Morgan Stanley reiterated an “overweight” rating and set a $50.00 price objective on shares of SLB in a report on Wednesday, January 21st. Stifel Nicolaus set a $56.00 target price on shares of SLB in a research report on Monday, January 26th. Sanford C. Bernstein lifted their price target on shares of SLB from $47.60 to $52.30 and gave the company an “outperform” rating in a research note on Thursday, December 11th. TD Cowen boosted their price target on SLB from $56.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Rothschild & Co Redburn set a $48.00 price objective on SLB in a report on Monday, November 3rd. Three research 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 target price of $52.38.

SLB Stock Performance

Shares of SLB stock opened at $50.37 on Friday. The firm has a market cap of $75.33 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 3.44 and a beta of 0.73. SLB Limited has a 52-week low of $31.11 and a 52-week high of $52.40. 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 company’s 50 day moving average is $44.22 and its 200 day moving average is $38.22.

SLB (NYSE:SLB) last posted its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, topping 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 quarter in the prior year, the business earned $0.92 earnings per share. SLB’s revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts anticipate that SLB Limited 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. Investors of record on Wednesday, February 11th will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This is an increase from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a yield of 2.3%. SLB’s dividend payout ratio is 49.79%.

Insider Buying and Selling

In other news, Director Peter John Coleman sold 5,500 shares of SLB stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total value of $197,010.00. Following the transaction, the director owned 18,671 shares of the company’s stock, valued at $668,795.22. The trade was a 22.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Howard Guild sold 13,268 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $659,419.60. Following the transaction, the chief accounting officer owned 22,407 shares of the company’s stock, valued at approximately $1,113,627.90. This trade represents a 37.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 162,402 shares of company stock valued at $7,993,676 over the last three months. Corporate insiders own 0.22% of the company’s stock.

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.