NewEdge Wealth LLC Has $250,000 Stock Holdings in SLB Limited $SLB

NewEdge Wealth LLC decreased its holdings in shares of SLB Limited (NYSE:SLB) by 75.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,847 shares of the oil and gas company’s stock after selling 20,735 shares during the period. NewEdge Wealth LLC’s holdings in SLB were worth $250,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in SLB by 23.3% in the 3rd quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock valued at $6,371,335,000 after buying an additional 35,057,313 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of SLB by 30.4% during the second quarter. Franklin Resources Inc. now owns 20,233,749 shares of the oil and gas company’s stock valued at $683,901,000 after acquiring an additional 4,719,852 shares during the period. Norges Bank acquired a new stake in shares of SLB in the 2nd quarter valued at $618,697,000. Amundi grew its holdings in shares of SLB by 29.9% in the 2nd quarter. Amundi now owns 11,415,740 shares of the oil and gas company’s stock worth $409,939,000 after purchasing an additional 2,624,679 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of SLB by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 9,681,754 shares of the oil and gas company’s stock worth $327,243,000 after purchasing an additional 114,190 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on SLB. UBS Group restated a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. The Goldman Sachs Group reiterated a “buy” rating and issued a $49.00 target price on shares of SLB in a research note on Wednesday, January 14th. Jefferies Financial Group increased their price target on SLB from $51.00 to $58.00 and gave the stock a “buy” rating in a research report on Sunday, February 1st. TD Cowen raised their price target on SLB from $56.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Rothschild & Co Redburn set a $48.00 price objective on SLB in a research note on Monday, November 3rd. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, SLB currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.38.

SLB Stock Up 1.2%

NYSE:SLB opened at $51.87 on Wednesday. The company has a market cap of $77.57 billion, a price-to-earnings ratio of 21.89, a P/E/G ratio of 3.48 and a beta of 0.73. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33. The stock’s fifty day moving average price is $45.90 and its two-hundred day moving average price is $39.15. SLB Limited has a 52-week low of $31.11 and a 52-week high of $52.40.

SLB (NYSE:SLB) last released its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The company had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.54 billion. During the same period last year, the firm earned $0.92 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts anticipate that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, February 11th. This is a boost from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio is currently 49.79%.

Insider Buying and Selling

In other news, CAO Howard Guild sold 13,268 shares of SLB stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $659,419.60. Following the completion of the sale, the chief accounting officer owned 22,407 shares in the company, valued at $1,113,627.90. The trade was a 37.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the completion of the transaction, the executive vice president owned 140,602 shares in the company, valued at $6,987,919.40. This represents a 29.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 156,902 shares of company stock worth $7,796,666. 0.22% of the stock is currently owned by company insiders.

About SLB

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.