Sanders Morris Harris LLC Has $11.36 Million Position in SLB Limited $SLB

Sanders Morris Harris LLC increased its stake in shares of SLB Limited (NYSE:SLB) by 61.7% during the third quarter, HoldingsChannel reports. The fund owned 330,550 shares of the oil and gas company’s stock after buying an additional 126,150 shares during the period. SLB comprises about 1.5% of Sanders Morris Harris LLC’s investment portfolio, making the stock its 10th largest position. Sanders Morris Harris LLC’s holdings in SLB were worth $11,361,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Oak Thistle LLC boosted its holdings in SLB by 41.8% during the third quarter. Oak Thistle LLC now owns 60,934 shares of the oil and gas company’s stock worth $2,094,000 after purchasing an additional 17,969 shares during the last quarter. Moody National Bank Trust Division boosted its position in SLB by 12.0% during the third quarter. Moody National Bank Trust Division now owns 26,703 shares of the oil and gas company’s stock valued at $918,000 after purchasing an additional 2,869 shares during the last quarter. City Center Advisors LLC bought a new position in SLB in the third quarter valued at approximately $318,000. Venture Visionary Partners LLC increased its position in shares of SLB by 3.8% during the 3rd quarter. Venture Visionary Partners LLC now owns 10,157 shares of the oil and gas company’s stock worth $349,000 after purchasing an additional 370 shares during the last quarter. Finally, Aaron Wealth Advisors LLC bought a new stake in shares of SLB during the 3rd quarter worth approximately $313,000. Institutional investors own 81.99% of the company’s stock.

SLB Trading Down 3.2%

Shares of NYSE:SLB opened at $37.64 on Wednesday. SLB Limited has a 12-month low of $31.11 and a 12-month high of $44.66. The business has a 50 day moving average of $36.02 and a 200-day moving average of $35.21. 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 stock has a market cap of $56.23 billion, a PE ratio of 14.53 and a beta of 0.73.

SLB (NYSE:SLB) last announced its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $8.93 billion for the quarter, compared to analyst estimates 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 last year, the company earned $0.89 earnings per share. As a group, equities research analysts forecast that SLB Limited will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Wednesday, December 3rd. SLB’s dividend payout ratio is presently 44.02%.

Insider Activity

In related 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 transaction of $1,412,927.25. Following the sale, the chief financial officer 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 filing with the SEC, which is available through the SEC website. Also, Director Peter John Coleman sold 5,500 shares of SLB stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total value of $197,010.00. Following the completion of the transaction, the director directly owned 18,671 shares of the company’s stock, valued at $668,795.22. This represents a 22.75% decrease in their ownership of the stock. 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. Corporate insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

SLB has been the subject of several analyst reports. Zacks Research raised shares of SLB from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Melius Research initiated coverage on shares of SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 target price on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a report on Wednesday, October 8th. Barclays upped their price objective on SLB from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Finally, JPMorgan Chase & Co. reduced their target price on SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, SLB has an average rating of “Moderate Buy” and a consensus price target of $52.32.

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.