NEOS Investment Management LLC Acquires 64,004 Shares of SLB Limited $SLB

NEOS Investment Management LLC lifted its holdings in SLB Limited (NYSE:SLB) by 47.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 200,233 shares of the oil and gas company’s stock after buying an additional 64,004 shares during the period. NEOS Investment Management LLC’s holdings in SLB were worth $6,882,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SLB. Brighton Jones LLC lifted its stake in SLB by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after purchasing an additional 1,166 shares during the last quarter. Bison Wealth LLC purchased a new position in SLB during the 4th quarter valued at about $238,000. Stratos Wealth Partners LTD. boosted its stake in SLB by 11.8% during the second quarter. Stratos Wealth Partners LTD. now owns 18,362 shares of the oil and gas company’s stock worth $621,000 after acquiring an additional 1,934 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in SLB by 0.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 591,915 shares of the oil and gas company’s stock worth $20,254,000 after purchasing an additional 3,622 shares during the period. Finally, Phoenix Financial Ltd. increased its stake in shares of SLB by 35.6% during the second quarter. Phoenix Financial Ltd. now owns 7,533 shares of the oil and gas company’s stock valued at $257,000 after purchasing an additional 1,976 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at SLB

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s 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 document filed with the SEC, which is accessible through this hyperlink. Also, CFO Stephane Biguet sold 61,017 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $3,032,544.90. Following the completion of the sale, the chief financial officer owned 155,548 shares in the company, valued at approximately $7,730,735.60. This trade represents a 28.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 162,402 shares of company stock valued at $7,993,676. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on SLB shares. The Goldman Sachs Group reiterated a “buy” rating and set a $49.00 price objective on shares of SLB in a research note on Wednesday, January 14th. JPMorgan Chase & Co. lifted their target price on shares of SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Freedom Capital downgraded SLB from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. UBS Group restated a “buy” rating on shares of SLB in a research note on Tuesday, January 27th. Finally, Citigroup increased 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. Three equities research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.38.

SLB Stock Performance

Shares of SLB opened at $51.58 on Thursday. The stock has a market cap of $77.12 billion, a P/E ratio of 21.76, a P/E/G ratio of 3.39 and a beta of 0.73. The stock has a 50-day moving average of $44.92 and a two-hundred day moving average of $38.59. SLB Limited has a one year low of $31.11 and a one year high of $52.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33.

SLB (NYSE:SLB) last released its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. SLB had a net margin of 9.45% and a return on equity of 17.45%. The business had revenue of $9.75 billion during the quarter, compared to analyst estimates of $9.54 billion. During the same quarter in the prior year, the firm earned $0.92 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, research analysts predict that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors 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. The ex-dividend date is Wednesday, February 11th. This represents a $1.18 annualized dividend and a yield of 2.3%. SLB’s payout ratio is 49.79%.

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.