Ritholtz Wealth Management Has $2.61 Million Holdings in SLB Limited $SLB

Ritholtz Wealth Management raised its holdings in SLB Limited (NYSE:SLB) by 108.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,881 shares of the oil and gas company’s stock after acquiring an additional 39,531 shares during the period. Ritholtz Wealth Management’s holdings in SLB were worth $2,608,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SLB. Brighton Jones LLC boosted its position in SLB by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after buying an additional 1,166 shares in the last quarter. Bison Wealth LLC acquired a new position in shares of SLB during the fourth quarter worth $238,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of SLB by 0.6% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 184,639 shares of the oil and gas company’s stock valued at $6,241,000 after acquiring an additional 1,053 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of SLB by 72.4% during the 2nd quarter. Exchange Traded Concepts LLC now owns 150,474 shares of the oil and gas company’s stock valued at $5,086,000 after acquiring an additional 63,217 shares in the last quarter. Finally, Grove Bank & Trust grew its position in SLB by 777.9% during the 2nd quarter. Grove Bank & Trust now owns 16,030 shares of the oil and gas company’s stock worth $542,000 after acquiring an additional 14,204 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Citigroup increased their target price on SLB from $47.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. UBS Group upped their price objective on SLB from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, December 12th. TD Cowen lifted their target price on shares of SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. decreased their price target on shares of SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Finally, Redburn Partners set a $48.00 price target on shares of SLB in a research note on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.17.

Insiders Place Their Bets

In other SLB news, CFO Stephane Biguet sold 38,447 shares of SLB stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $36.75, for a total value of $1,412,927.25. Following the completion of the sale, the chief financial officer directly owned 175,690 shares of the company’s stock, valued at approximately $6,456,607.50. The trade was a 17.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $2,261,400.00. Following the transaction, the executive vice president owned 159,371 shares in the company, valued at $6,006,692.99. This represents a 27.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 103,947 shares of company stock worth $3,871,337. 0.22% of the stock is currently owned by company insiders.

SLB Price Performance

Shares of SLB opened at $46.73 on Friday. The firm has a market cap of $69.81 billion, a PE ratio of 18.04 and a beta of 0.72. SLB Limited has a 52-week low of $31.11 and a 52-week high of $47.72. The business’s 50 day moving average price is $39.02 and its two-hundred day moving average price is $36.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39.

SLB (NYSE:SLB) last released its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $8.99 billion. During the same quarter in the previous year, the business posted $0.89 EPS. SLB’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities analysts anticipate that SLB Limited will post 3.38 EPS for the current year.

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.