SLB Limited $SLB Shares Purchased by Pacifica Partners Inc.

Pacifica Partners Inc. raised its position in SLB Limited (NYSE:SLB) by 14.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,373 shares of the oil and gas company’s stock after buying an additional 12,715 shares during the period. SLB makes up about 1.8% of Pacifica Partners Inc.’s holdings, making the stock its 20th biggest holding. Pacifica Partners Inc.’s holdings in SLB were worth $3,995,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Citigroup increased their target price on SLB from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Freedom Capital lowered shares of SLB from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. UBS Group reaffirmed a “buy” rating on shares of SLB in a report on Tuesday, January 27th. Stifel Nicolaus set a $56.00 price objective on shares of SLB in a research note on Monday, January 26th. Finally, Susquehanna raised their price objective on shares of SLB from $52.00 to $58.00 and gave the stock a “positive” rating in a report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, SLB presently has an average rating of “Moderate Buy” and a consensus target price of $53.16.

Insider Activity at SLB

In other news, CFO Stephane Biguet sold 61,017 shares of the firm’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $3,032,544.90. Following the transaction, the chief financial officer directly owned 155,548 shares in the company, valued at approximately $7,730,735.60. This trade represents a 28.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director La Chevardiere Patrick De sold 4,000 shares of SLB stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $50.29, for a total transaction of $201,160.00. Following the completion of the transaction, the director directly owned 19,525 shares of the company’s stock, valued at $981,912.25. This trade represents a 17.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 156,902 shares of company stock valued at $7,796,666 in the last ninety days. 0.16% of the stock is owned by insiders.

SLB Price Performance

Shares of SLB opened at $46.61 on Monday. SLB Limited has a 52 week low of $31.11 and a 52 week high of $52.45. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. The firm has a market cap of $70.03 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 3.32 and a beta of 0.68. The stock has a 50 day moving average of $48.74 and a 200-day moving average of $40.82.

SLB (NYSE:SLB) last posted its quarterly earnings results 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 return on equity of 17.45% and a net margin of 9.45%.The business had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.54 billion. During the same period in the prior year, the company posted $0.92 EPS. The business’s revenue was up 5.0% compared to the same quarter last year. As a group, analysts forecast that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.5%. This is a positive change from SLB’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, February 11th. SLB’s dividend payout ratio is currently 49.79%.

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.