Evergreen Capital Management LLC Buys 510,929 Shares of SLB Limited $SLB

Evergreen Capital Management LLC lifted its stake in shares of SLB Limited (NYSE:SLB) by 512.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 610,611 shares of the oil and gas company’s stock after acquiring an additional 510,929 shares during the quarter. Evergreen Capital Management LLC’s holdings in SLB were worth $21,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in shares of SLB by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after purchasing an additional 1,166 shares during the period. Bison Wealth LLC bought a new position in SLB during the fourth quarter worth $238,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in SLB by 55.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 350 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in SLB by 0.6% during the second 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. Finally, Baader Bank Aktiengesellschaft grew its holdings in SLB by 44.4% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 17,713 shares of the oil and gas company’s stock worth $593,000 after acquiring an additional 5,450 shares during the period. 81.99% of the stock is currently owned by institutional investors.

SLB Stock Performance

SLB opened at $46.73 on Friday. The company has a market cap of $69.81 billion, a price-to-earnings ratio of 18.04 and a beta of 0.72. The company’s fifty day moving average price is $39.02 and its two-hundred day moving average price is $36.27. SLB Limited has a 1-year low of $31.11 and a 1-year high of $47.72. 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 posted 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 during the quarter, compared to the consensus estimate of $8.99 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, analysts expect that SLB Limited will post 3.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Stephane Biguet sold 38,447 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was 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 $6,456,607.50. This represents a 17.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 159,371 shares in the company, valued at approximately $6,006,692.99. The trade was a 27.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 103,947 shares of company stock valued at $3,871,337. Corporate insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

SLB has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of SLB in a research note on Wednesday, October 8th. Piper Sandler boosted their price target on SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. TD Cowen raised their price objective 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. Rothschild Redb upgraded shares of SLB to a “strong-buy” rating in a research report on Monday, November 3rd. Finally, Citigroup increased their target price on shares of SLB from $47.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.17.

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.