Legacy Wealth Asset Management LLC Acquires 308 Shares of SLB Limited $SLB

Legacy Wealth Asset Management LLC increased its position in shares of SLB Limited (NYSE:SLB) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,382 shares of the oil and gas company’s stock after buying an additional 308 shares during the period. Legacy Wealth Asset Management LLC’s holdings in SLB were worth $486,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC purchased a new position in shares of SLB during the first quarter valued at $169,232,000. Alan B Lancz & Associates Inc. purchased a new position in shares of SLB during the first quarter valued at $308,000. Shell Asset Management Co. increased its stake in shares of SLB by 48.1% during the second quarter. Shell Asset Management Co. now owns 62,737 shares of the oil and gas company’s stock valued at $2,121,000 after buying an additional 20,387 shares during the period. Godsey & Gibb Inc. increased its stake in shares of SLB by 9.6% during the second quarter. Godsey & Gibb Inc. now owns 493,092 shares of the oil and gas company’s stock valued at $16,667,000 after buying an additional 43,135 shares during the period. Finally, Stratos Investment Management LLC increased its stake in shares of SLB by 236.0% during the first quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company’s stock valued at $6,141,000 after buying an additional 103,182 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Price Performance

Shares of NYSE SLB opened at $33.51 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. The company has a market cap of $50.05 billion, a PE ratio of 12.94, a P/E/G ratio of 9.35 and a beta of 0.97. The business has a 50-day simple moving average of $34.52 and a two-hundred day simple moving average of $34.48. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $44.97.

SLB (NYSE:SLB) last issued its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. The business had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.99 billion. SLB had a return on equity of 18.97% and a net margin of 10.34%.The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.89 earnings per share. As a group, equities analysts expect that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.4%. SLB’s payout ratio is 44.02%.

Insider Activity at SLB

In related news, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares of the company’s stock, valued at $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Piper Sandler set a $42.00 price target on SLB and gave the company an “overweight” rating in a research note on Monday. Jefferies Financial Group cut their target price on SLB from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th. Citigroup lifted their target price on SLB from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a research note on Wednesday, October 8th. Finally, UBS Group reiterated a “buy” rating and issued a $44.00 target price on shares of SLB in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.69.

About SLB

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.