Dynamic Technology Lab Private Ltd Invests $2.07 Million in SLB Limited $SLB

Dynamic Technology Lab Private Ltd purchased a new stake in shares of SLB Limited (NYSE:SLB) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 60,129 shares of the oil and gas company’s stock, valued at approximately $2,067,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in SLB. Brighton Jones LLC raised its holdings 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 valued at $253,000 after purchasing an additional 1,166 shares in the last quarter. Bison Wealth LLC bought a new position in shares of SLB during the fourth quarter valued at approximately $238,000. Versor Investments LP purchased a new position in SLB during the second quarter valued at approximately $209,000. Resona Asset Management Co. Ltd. increased its holdings in SLB by 0.3% during the second quarter. Resona Asset Management Co. Ltd. now owns 465,176 shares of the oil and gas company’s stock valued at $15,739,000 after buying an additional 1,170 shares during the period. Finally, Bryn Mawr Trust Advisors LLC lifted its holdings in SLB by 4.5% during the second quarter. Bryn Mawr Trust Advisors LLC now owns 27,102 shares of the oil and gas company’s stock worth $916,000 after buying an additional 1,166 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SLB

In other news, CFO Stephane Biguet sold 61,017 shares of the company’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $3,032,544.90. Following the transaction, the chief financial officer owned 155,548 shares in the company, valued at $7,730,735.60. This represents a 28.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director La Chevardiere Patrick De sold 4,000 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $50.29, for a total transaction of $201,160.00. Following the completion of the transaction, the director directly owned 19,525 shares of the company’s stock, valued at $981,912.25. The trade was a 17.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 156,902 shares of company stock valued at $7,796,666. Insiders own 0.22% of the company’s stock.

SLB Stock Performance

Shares of SLB stock opened at $46.86 on Friday. SLB Limited has a 12-month low of $31.11 and a 12-month high of $52.45. The business’s fifty day simple moving average is $47.73 and its 200-day simple moving average is $40.03. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. The company has a market cap of $70.41 billion, a PE ratio of 19.77, a PEG ratio of 3.19 and a beta of 0.68.

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

SLB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be issued a $0.295 dividend. This is a boost from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, February 11th. SLB’s dividend payout ratio is 49.79%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SLB. UBS Group reaffirmed a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. Evercore set a $54.00 price objective on SLB and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Citigroup raised their price objective on SLB from $53.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, January 26th. TD Cowen lifted their target price on SLB from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Finally, Barclays boosted their target price on shares of SLB from $47.00 to $49.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. 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 given 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 $52.96.

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.