Narwhal Capital Management Boosts Holdings in SLB Limited $SLB

Narwhal Capital Management increased its position in shares of SLB Limited (NYSE:SLB) by 16.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 136,981 shares of the oil and gas company’s stock after buying an additional 19,424 shares during the quarter. Narwhal Capital Management’s holdings in SLB were worth $4,708,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund increased its stake in SLB by 45.1% during the third quarter. Oregon Public Employees Retirement Fund now owns 170,489 shares of the oil and gas company’s stock worth $5,860,000 after acquiring an additional 52,977 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of SLB by 5.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 161,314 shares of the oil and gas company’s stock worth $5,544,000 after purchasing an additional 8,450 shares during the period. Spectrum Asset Management Inc. NB CA acquired a new stake in shares of SLB during the 3rd quarter worth about $518,000. Citizens National Bank Trust Department raised its holdings in SLB by 9.4% in the 3rd quarter. Citizens National Bank Trust Department now owns 13,016 shares of the oil and gas company’s stock valued at $447,000 after buying an additional 1,114 shares during the period. Finally, Venturi Wealth Management LLC acquired a new position in SLB in the third quarter valued at about $253,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SLB shares. Piper Sandler lifted their price target on shares of SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Cowen reiterated a “buy” rating and issued a $57.00 target price on shares of SLB in a report on Thursday, December 11th. Citigroup upped their price target on SLB from $47.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Redburn Partners set a $48.00 price target on SLB in a research report on Monday, November 3rd. Finally, Rothschild & Co Redburn began coverage on SLB in a research note on Monday, November 3rd. They set a “buy” rating and a $48.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $53.42.

Insider Activity at SLB

In other news, 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 transaction of $197,010.00. Following the completion of the sale, the director directly owned 18,671 shares of the company’s stock, valued at approximately $668,795.22. The trade was a 22.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was 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 of the company’s stock, 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. Insiders have sold a total of 103,947 shares of company stock valued at $3,871,337 over the last 90 days. 0.22% of the stock is owned by corporate insiders.

SLB Stock Up 1.7%

SLB stock opened at $45.20 on Friday. The firm has a market capitalization of $67.52 billion, a P/E ratio of 17.45 and a beta of 0.72. 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 Limited has a twelve month low of $31.11 and a twelve month high of $45.24. The stock’s fifty day simple moving average is $38.05 and its 200-day simple moving average is $35.83.

SLB (NYSE:SLB) last released its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The firm had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.99 billion. During the same period last year, the business posted $0.89 earnings per share. SLB’s revenue was down 2.5% compared to the same quarter last year. As a group, equities analysts expect 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 was paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd were paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Wednesday, December 3rd. SLB’s dividend payout ratio is presently 44.02%.

SLB Company 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.