Exchange Traded Concepts LLC Has $13.43 Million Stake in SLB Limited $SLB

Exchange Traded Concepts LLC raised its stake in shares of SLB Limited (NYSE:SLB) by 24.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 349,846 shares of the oil and gas company’s stock after buying an additional 68,431 shares during the quarter. Exchange Traded Concepts LLC’s holdings in SLB were worth $13,427,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SLB. Bourne Lent Asset Management Inc. raised its position in shares of SLB by 177.5% in the 4th quarter. Bourne Lent Asset Management Inc. now owns 23,450 shares of the oil and gas company’s stock valued at $900,000 after acquiring an additional 15,000 shares during the period. Pallas Capital Advisors LLC acquired a new position in SLB during the fourth quarter valued at approximately $673,000. Romano Brothers AND Company increased its stake in SLB by 1.1% in the fourth quarter. Romano Brothers AND Company now owns 83,242 shares of the oil and gas company’s stock valued at $3,195,000 after purchasing an additional 893 shares in the last quarter. CoreCap Advisors LLC increased its stake in SLB by 23.1% in the fourth quarter. CoreCap Advisors LLC now owns 2,338 shares of the oil and gas company’s stock valued at $90,000 after purchasing an additional 439 shares in the last quarter. Finally, Norden Group LLC raised its holdings in SLB by 10.4% in the fourth quarter. Norden Group LLC now owns 6,924 shares of the oil and gas company’s stock worth $266,000 after purchasing an additional 655 shares during the period. 81.99% of the stock is owned by institutional investors.

SLB Stock Up 2.3%

SLB stock opened at $53.51 on Friday. The company has a 50 day moving average of $49.27 and a 200-day moving average of $41.33. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. SLB Limited has a twelve month low of $31.11 and a twelve month high of $53.70. The stock has a market capitalization of $80.39 billion, a PE ratio of 22.58, a price-to-earnings-growth ratio of 3.81 and a beta of 0.68.

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

SLB Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be paid a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. This is a positive change from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio (DPR) is 49.79%.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $2,982,000.00. Following the sale, the executive vice president owned 140,602 shares of the company’s stock, valued at approximately $6,987,919.40. This trade represents a 29.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dianne B. Ralston sold 18,617 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.50, for a total value of $921,541.50. Following the completion of the sale, the insider owned 224,097 shares in the company, valued at $11,092,801.50. The trade was a 7.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 156,902 shares of company stock valued at $7,796,666. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SLB shares. Susquehanna lifted their price target on shares of SLB from $52.00 to $58.00 and gave the stock a “positive” rating in a research report on Monday, January 26th. 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 research report on Monday, January 26th. BMO Capital Markets lifted their target price on SLB from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. UBS Group reissued a “buy” rating on shares of SLB in a research note on Tuesday, January 27th. Finally, Jefferies Financial Group increased their price target on SLB from $51.00 to $58.00 and gave the stock a “buy” rating in a report on Sunday, February 1st. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.16.

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.