Cidel Asset Management Inc. Grows Stock Holdings in SLB Limited $SLB

Cidel Asset Management Inc. grew its position in shares of SLB Limited (NYSE:SLB) by 19.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,888 shares of the oil and gas company’s stock after acquiring an additional 1,638 shares during the period. Cidel Asset Management Inc.’s holdings in SLB were worth $334,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Forvis Mazars Wealth Advisors LLC increased its holdings in SLB by 15.9% during the 2nd quarter. Forvis Mazars Wealth Advisors LLC now owns 5,971 shares of the oil and gas company’s stock valued at $202,000 after purchasing an additional 819 shares during the period. Sigma Investment Counselors Inc. increased its stake in shares of SLB by 8.6% during the second quarter. Sigma Investment Counselors Inc. now owns 65,097 shares of the oil and gas company’s stock valued at $2,200,000 after buying an additional 5,165 shares during the period. BKM Wealth Management LLC increased its stake in shares of SLB by 14.2% during the second quarter. BKM Wealth Management LLC now owns 18,009 shares of the oil and gas company’s stock valued at $609,000 after buying an additional 2,236 shares during the period. Stratos Wealth Partners LTD. lifted its stake in SLB by 11.8% in the second quarter. Stratos Wealth Partners LTD. now owns 18,362 shares of the oil and gas company’s stock worth $621,000 after acquiring an additional 1,934 shares during the period. Finally, Smithbridge Asset Management Inc. DE boosted its holdings in SLB by 6.8% in the second quarter. Smithbridge Asset Management Inc. DE now owns 30,749 shares of the oil and gas company’s stock valued at $1,039,000 after acquiring an additional 1,969 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SLB. Atb Cap Markets upgraded shares of SLB from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. Melius started coverage on shares of SLB in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target for the company. Susquehanna cut their price objective on SLB from $44.00 to $42.00 and set a “positive” rating on the stock in a research report on Monday, July 21st. Stifel Nicolaus decreased their target price on SLB from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Finally, Melius Research initiated coverage on SLB in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

SLB Stock Performance

SLB stock opened at $32.58 on Monday. SLB Limited has a twelve month low of $31.11 and a twelve month high of $44.97. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $48.66 billion, a P/E ratio of 12.58, a PEG ratio of 9.13 and a beta of 0.97. The stock’s 50 day moving average is $34.49 and its 200 day moving average is $34.50.

SLB (NYSE:SLB) last released its earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The business had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.99 billion. During the same period in the previous year, the company posted $0.89 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities research analysts predict that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio is 44.02%.

Insiders Place Their Bets

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.22% of the company’s stock.

SLB Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.