SLB Limited $SLB Stake Increased by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. raised its stake in shares of SLB Limited (NYSE:SLB) by 11.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,362 shares of the oil and gas company’s stock after acquiring an additional 1,934 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in SLB were worth $621,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SLB. EntryPoint Capital LLC grew its position in shares of SLB by 4.5% during the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock valued at $307,000 after buying an additional 316 shares during the last quarter. Horizon Investments LLC boosted its stake in SLB by 1.5% in the first quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock valued at $946,000 after acquiring an additional 330 shares during the period. CreativeOne Wealth LLC boosted its stake in SLB by 6.3% in the first quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock valued at $236,000 after acquiring an additional 335 shares during the period. Forza Wealth Management LLC grew its holdings in shares of SLB by 5.8% during the first quarter. Forza Wealth Management LLC now owns 6,374 shares of the oil and gas company’s stock valued at $266,000 after purchasing an additional 350 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of SLB by 55.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 350 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the transaction, the insider directly owned 202,201 shares of the company’s stock, valued at $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is owned by corporate insiders.

SLB Trading Up 4.0%

Shares of NYSE:SLB opened at $34.88 on Thursday. The company has a 50 day moving average of $34.55 and a 200-day moving average of $34.49. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. The firm has a market cap of $52.09 billion, a P/E ratio of 13.47, a P/E/G ratio of 9.34 and a beta of 0.97. SLB Limited has a twelve month low of $31.11 and a twelve month high of $44.97.

SLB (NYSE:SLB) last announced 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. The firm had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.99 billion. SLB had a return on equity of 18.97% and a net margin of 10.34%.The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 earnings per share. As a group, analysts anticipate that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a yield of 3.3%. SLB’s dividend payout ratio (DPR) is currently 44.02%.

Analyst Ratings Changes

SLB has been the subject of a number of recent research reports. Melius Research started coverage on SLB in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective for the company. Zacks Research raised shares of SLB from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Atb Cap Markets raised shares of SLB from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. Jefferies Financial Group cut their price objective on shares of SLB from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Finally, Stifel Nicolaus dropped their price target on shares of SLB from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, SLB currently has an average rating of “Moderate Buy” and an average target price of $51.69.

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.