VCI Wealth Management LLC Makes New Investment in SLB Limited $SLB

VCI Wealth Management LLC acquired a new stake in SLB Limited (NYSE:SLB) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 19,833 shares of the oil and gas company’s stock, valued at approximately $1,019,000.

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

Insider Activity

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This represents a 52.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction that occurred 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 sale, the director directly owned 16,953 shares of the company’s stock, valued at $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by corporate insiders.

SLB Stock Performance

Shares of SLB opened at $46.95 on Friday. The company’s 50 day simple moving average is $54.22 and its 200-day simple moving average is $49.37. The firm has a market cap of $70.19 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.90 and a beta of 0.70. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35.

SLB (NYSE:SLB) last released its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. SLB’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 EPS. As a group, equities analysts predict that SLB Limited will post 2.62 EPS for the current year.

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s dividend payout ratio is presently 51.53%.

Analysts Set New Price Targets

A number of research analysts have recently commented on SLB shares. Barclays increased their price objective on SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $65.00 price target on shares of SLB in a report on Sunday, April 26th. The Goldman Sachs Group increased their price target on shares of SLB from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Royal Bank Of Canada restated an “outperform” rating and set a $61.00 price objective on shares of SLB in a research report on Tuesday, June 16th. Finally, Morgan Stanley set a $57.00 target price on shares of SLB in a report on Monday, April 27th. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, SLB currently has an average rating of “Moderate Buy” and an average target price of $60.83.

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.