Soltis Investment Advisors LLC Buys 190,737 Shares of SLB Limited $SLB

Soltis Investment Advisors LLC boosted its stake in shares of SLB Limited (NYSE:SLB) by 1,954.3% during the 4th quarter, HoldingsChannel reports. The fund owned 200,497 shares of the oil and gas company’s stock after purchasing an additional 190,737 shares during the period. Soltis Investment Advisors LLC’s holdings in SLB were worth $7,695,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SLB. Vanguard Group Inc. boosted its position in shares of SLB by 23.3% during the third quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock valued at $6,371,335,000 after buying an additional 35,057,313 shares during the period. State Street Corp boosted its position in shares of SLB by 7.0% during the third quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock valued at $2,898,037,000 after buying an additional 5,466,786 shares during the period. Greenhaven Associates Inc. purchased a new position in shares of SLB during the fourth quarter valued at approximately $178,883,000. Caisse de depot et placement du Quebec boosted its position in shares of SLB by 10,422.1% during the third quarter. Caisse de depot et placement du Quebec now owns 3,165,581 shares of the oil and gas company’s stock valued at $108,801,000 after buying an additional 3,135,496 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of SLB by 25.2% during the third quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company’s stock valued at $528,217,000 after buying an additional 3,094,764 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the subject of several recent analyst reports. Barclays boosted their target price on SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. UBS Group boosted their target price on SLB from $61.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Piper Sandler boosted their target price on SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Stifel Nicolaus boosted their target price on SLB from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Finally, Bank of America boosted their target price on SLB from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.74.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the business’s 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 completion of the sale, the director owned 16,953 shares in the company, valued at approximately $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the sale, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. The trade was a 52.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by insiders.

SLB Stock Down 0.8%

Shares of NYSE SLB opened at $55.33 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. The firm has a market capitalization of $82.72 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 3.90 and a beta of 0.72. The stock has a 50 day moving average price of $51.44 and a 200 day moving average price of $45.70. SLB Limited has a 52-week low of $31.64 and a 52-week high of $57.20.

SLB (NYSE:SLB) last announced its quarterly earnings results 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. The firm had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.SLB’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. Sell-side analysts expect that SLB Limited will post 2.61 earnings per share for the current year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be issued 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 2.1%. SLB’s payout ratio is presently 51.53%.

SLB Company 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.