Islay Capital Management LLC Purchases 10,658 Shares of SLB Limited $SLB

Islay Capital Management LLC raised its position in SLB Limited (NYSE:SLB) by 39.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,944 shares of the oil and gas company’s stock after purchasing an additional 10,658 shares during the quarter. Islay Capital Management LLC’s holdings in SLB were worth $1,304,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Synergy Asset Management LLC grew its holdings in shares of SLB by 100.0% in the third quarter. Synergy Asset Management LLC now owns 80,830 shares of the oil and gas company’s stock worth $2,732,000 after purchasing an additional 40,415 shares during the last quarter. Americana Partners LLC lifted its holdings in SLB by 10.1% during the 3rd quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company’s stock valued at $8,526,000 after buying an additional 22,706 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in SLB by 13.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 210,056 shares of the oil and gas company’s stock valued at $7,220,000 after buying an additional 25,417 shares during the period. Nordea Investment Management AB grew its stake in SLB by 4.9% in the 3rd quarter. Nordea Investment Management AB now owns 2,157,885 shares of the oil and gas company’s stock worth $72,354,000 after acquiring an additional 100,918 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG grew its stake in SLB by 1,937.4% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company’s stock worth $34,265,000 after acquiring an additional 948,015 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Trading Down 1.2%

Shares of NYSE:SLB opened at $47.32 on Friday. The company has a market capitalization of $71.10 billion, a PE ratio of 19.97, a P/E/G ratio of 3.26 and a beta of 0.68. 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 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 $47.55 and its 200-day simple moving average is $39.89.

SLB (NYSE:SLB) last issued 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 period in the prior year, the business posted $0.92 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts predict that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, February 11th. This is an increase from SLB’s previous quarterly dividend of $0.29. SLB’s payout ratio is presently 49.79%.

Insider Activity

In related news, 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 sale, the executive vice president owned 140,602 shares of the company’s stock, valued at $6,987,919.40. This represents a 29.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Howard Guild sold 13,268 shares of SLB stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $659,419.60. Following the completion of the transaction, the chief accounting officer directly owned 22,407 shares in the company, valued at $1,113,627.90. This represents a 37.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 156,902 shares of company stock worth $7,796,666 over the last 90 days. 0.22% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Sanford C. Bernstein boosted their price target on SLB from $47.60 to $52.30 and gave the company an “outperform” rating in a report on Thursday, December 11th. Loop Capital set a $48.00 target price on SLB in a research report on Tuesday, January 27th. TD Cowen increased their price target on SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. The Goldman Sachs Group raised their price target on SLB from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, BMO Capital Markets lifted their price objective on SLB from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, SLB presently has a consensus rating of “Moderate Buy” and an average target price of $52.96.

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.