L2 Asset Management LLC Raises Holdings in SLB Limited $SLB

L2 Asset Management LLC increased its stake in shares of SLB Limited (NYSE:SLB) by 172.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,361 shares of the oil and gas company’s stock after acquiring an additional 51,468 shares during the period. L2 Asset Management LLC’s holdings in SLB were worth $2,796,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SLB. Twin Peaks Wealth Advisors LLC purchased a new stake in SLB in the 2nd quarter worth approximately $25,000. Root Financial Partners LLC purchased a new position in shares of SLB during the 3rd quarter valued at approximately $29,000. Corsicana & Co. acquired a new position in shares of SLB in the 3rd quarter valued at $31,000. Strengthening Families & Communities LLC acquired a new position in shares of SLB in the 3rd quarter valued at $31,000. Finally, SouthState Bank Corp boosted its holdings in SLB by 57.4% during the third quarter. SouthState Bank Corp now owns 1,212 shares of the oil and gas company’s stock worth $42,000 after buying an additional 442 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Price Performance

Shares of NYSE SLB opened at $44.95 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33. The firm has a fifty day moving average of $48.54 and a 200 day moving average of $40.53. The firm has a market cap of $67.53 billion, a PE ratio of 18.96, a PEG ratio of 3.12 and a beta of 0.68. SLB Limited has a one year low of $31.11 and a one year high of $52.45.

SLB (NYSE:SLB) last posted its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, beating 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 business had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.54 billion. During the same period last year, the firm posted $0.92 earnings per share. The company’s revenue 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 fiscal year.

SLB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors 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 dividend on an annualized basis and a yield of 2.6%. This is a boost from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio is 49.79%.

Insider Transactions at SLB

In related news, Director La Chevardiere Patrick De sold 4,000 shares of SLB stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $50.29, for a total value of $201,160.00. Following the sale, the director directly owned 19,525 shares in the company, valued at approximately $981,912.25. The trade was a 17.00% decrease in their position. The transaction was disclosed in a filing 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 that occurred on Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $3,032,544.90. Following the sale, the chief financial officer owned 155,548 shares of the company’s stock, valued at approximately $7,730,735.60. This trade represents a 28.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 156,902 shares of company stock worth $7,796,666 in the last three months. 0.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Argus upgraded shares of SLB to a “strong-buy” 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 stock an “overweight” rating in a research report on Monday, January 26th. Piper Sandler increased their target price on shares of SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Loop Capital set a $48.00 target price on SLB in a research report on Tuesday, January 27th. Finally, Royal Bank Of Canada lifted their price target on SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $53.16.

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.