Michels Family Financial LLC Buys Shares of 16,096 SLB Limited $SLB

Michels Family Financial LLC purchased a new stake in SLB Limited (NYSE:SLB) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 16,096 shares of the oil and gas company’s stock, valued at approximately $553,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SLB. Twin Peaks Wealth Advisors LLC bought a new position in SLB in the second quarter worth approximately $25,000. Root Financial Partners LLC purchased a new position in shares of SLB in the 3rd quarter valued at $29,000. Corsicana & Co. purchased a new position in shares of SLB in the 3rd quarter valued at $31,000. Strengthening Families & Communities LLC bought a new position in shares of SLB in the 3rd quarter worth $31,000. Finally, NewSquare Capital LLC lifted its stake in shares of SLB by 51.4% during the 2nd quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 341 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

SLB Stock Performance

SLB opened at $50.82 on Friday. The company has a market cap of $75.99 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 3.46 and a beta of 0.73. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average price is $45.37 and its 200-day moving average price is $38.84. SLB Limited has a 52-week low of $31.11 and a 52-week high of $52.40.

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

SLB Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, February 11th. This is a positive change from SLB’s previous quarterly dividend of $0.29. SLB’s payout ratio is currently 49.79%.

Insider Buying and Selling

In other news, CAO Howard Guild sold 13,268 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total value 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 trade represents a 37.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction dated 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 directly owned 140,602 shares of the company’s stock, valued at $6,987,919.40. This trade represents a 29.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 162,402 shares of company stock worth $7,993,676 over the last three months. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Freedom Capital lowered SLB from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. BMO Capital Markets raised their price target on shares of SLB from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, January 26th. JPMorgan Chase & Co. boosted their price objective on shares of SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Argus raised shares of SLB to a “strong-buy” rating in a research report on Monday, January 26th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $49.00 target price on shares of SLB in a research note on Wednesday, January 14th. Three research 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.38.

SLB Company 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.