SLB Limited $SLB Shares Purchased by Creative Planning

Creative Planning grew its holdings in SLB Limited (NYSE:SLB) by 19.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 254,211 shares of the oil and gas company’s stock after acquiring an additional 40,591 shares during the period. Creative Planning’s holdings in SLB were worth $8,592,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of SLB. Atticus Wealth Management LLC purchased a new position in SLB in the second quarter worth approximately $29,000. Atlas Capital Advisors Inc. purchased a new stake in shares of SLB during the 1st quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of SLB by 55.3% during the second 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 in the last quarter. NewSquare Capital LLC increased its holdings in SLB by 51.4% in the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 341 shares during the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in SLB in the first quarter valued at $40,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other SLB news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total value of $2,261,400.00. Following the sale, the executive vice president owned 159,371 shares of the company’s stock, valued at $6,006,692.99. This represents a 27.35% 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, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction that occurred on 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 approximately $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 138,174 shares of company stock worth $5,107,677. 0.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SLB shares. Melius Research started coverage on SLB in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Citigroup lifted their price target on shares of SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Rothschild Redb upgraded shares of SLB to a “strong-buy” rating in a research note on Monday, November 3rd. Finally, Melius initiated coverage on SLB in a report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $51.28.

SLB Stock Performance

NYSE SLB opened at $36.03 on Wednesday. The stock has a market capitalization of $53.83 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 10.19 and a beta of 0.97. The business’s 50 day moving average is $35.04 and its two-hundred day moving average is $34.80. SLB Limited has a 12-month low of $31.11 and a 12-month high of $44.97. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40.

SLB (NYSE:SLB) last issued 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 net margin of 10.34% and a return on equity of 18.97%. The company had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. During the same period in the previous year, the firm earned $0.89 EPS. The business’s revenue was down 2.5% on a year-over-year basis. Research analysts expect that SLB Limited will post 3.38 EPS for the current year.

SLB Announces Dividend

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 paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio (DPR) is presently 44.02%.

SLB 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.