NewEdge Wealth LLC Purchases 9,207 Shares of SLB Limited $SLB

NewEdge Wealth LLC increased its position in SLB Limited (NYSE:SLB) by 134.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,054 shares of the oil and gas company’s stock after purchasing an additional 9,207 shares during the quarter. NewEdge Wealth LLC’s holdings in SLB were worth $616,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Steph & Co. raised its holdings in shares of SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 394 shares during the period. Strategic Wealth Advisors LLC bought a new stake in shares of SLB in the 4th quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of SLB in the 4th quarter valued at about $31,000. Root Financial Partners LLC bought a new stake in shares of SLB in the 3rd quarter valued at about $29,000. Finally, Eagle Bay Advisors LLC bought a new stake in shares of SLB in the 4th quarter valued at about $34,000. 81.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the transaction, the executive vice president owned 47,421 shares in the company, valued at $2,664,111.78. This represents a 52.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the sale, the director owned 16,953 shares in the company, valued at $921,056.49. This represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.16% of the company’s stock.

SLB Stock Down 0.8%

SLB stock opened at $55.33 on Friday. The company’s 50-day moving average price is $51.44 and its two-hundred day moving average price is $45.70. SLB Limited has a twelve month low of $31.64 and a twelve month high of $57.20. The stock has a market cap of $82.72 billion, a P/E ratio of 24.16, a P/E/G ratio of 3.92 and a beta of 0.72. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35.

SLB (NYSE:SLB) last announced its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The firm had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts expect that SLB Limited will post 2.61 EPS for the current year.

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio is presently 51.53%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Freedom Capital cut shares of SLB from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Sanford C. Bernstein increased their price target on shares of SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a report on Monday. BMO Capital Markets increased their price target on shares of SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, April 27th. The Goldman Sachs Group increased their price target on shares of SLB from $53.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Finally, Loop Capital set a $48.00 price target on shares of SLB in a report on Tuesday, January 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.74.

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.