Kingsview Wealth Management LLC Purchases 19,190 Shares of SLB Limited $SLB

Kingsview Wealth Management LLC grew its position in SLB Limited (NYSE:SLB) by 20.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 113,287 shares of the oil and gas company’s stock after purchasing an additional 19,190 shares during the quarter. Kingsview Wealth Management LLC’s holdings in SLB were worth $3,894,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of SLB. Brighton Jones LLC grew its holdings in SLB by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after acquiring an additional 1,166 shares during the period. Bison Wealth LLC bought a new stake in shares of SLB during the 4th quarter valued at about $238,000. World Investment Advisors grew its stake in SLB by 17.0% during the second quarter. World Investment Advisors now owns 6,719 shares of the oil and gas company’s stock worth $228,000 after purchasing an additional 974 shares during the period. Hantz Financial Services Inc. grew its stake in SLB by 411.7% during the second quarter. Hantz Financial Services Inc. now owns 2,451 shares of the oil and gas company’s stock worth $83,000 after purchasing an additional 1,972 shares during the period. Finally, Assetmark Inc. increased its holdings in SLB by 19.5% in the second quarter. Assetmark Inc. now owns 56,561 shares of the oil and gas company’s stock worth $1,912,000 after purchasing an additional 9,210 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other SLB news, EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction 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 transaction, the executive vice president directly owned 140,602 shares of the company’s stock, valued at $6,987,919.40. The trade was a 29.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephane Biguet sold 61,017 shares of the company’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $3,032,544.90. Following the completion of the sale, the chief financial officer owned 155,548 shares of the company’s stock, valued at approximately $7,730,735.60. The trade was a 28.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 156,902 shares of company stock valued at $7,796,666. 0.22% of the stock is currently owned by company insiders.

SLB Stock Down 5.3%

SLB stock opened at $48.55 on Wednesday. The firm has a market capitalization of $72.95 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 3.49 and a beta of 0.68. The firm’s fifty day moving average price is $47.16 and its two-hundred day moving average price is $39.78. SLB Limited has a 1-year low of $31.11 and a 1-year high of $52.45. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36.

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

SLB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.4%. This is a boost from SLB’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, February 11th. SLB’s dividend payout ratio (DPR) is currently 49.79%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Royal Bank Of Canada increased their price target on SLB from $51.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Jefferies Financial Group increased their target price on shares of SLB from $51.00 to $58.00 and gave the stock a “buy” rating in a research note on Sunday, February 1st. TD Cowen raised their price target on shares of SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. upped their price objective on shares of SLB from $43.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Finally, Sanford C. Bernstein increased their price objective on shares of SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.38.

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.