Castle Rock Wealth Management LLC Takes Position in SLB Limited $SLB

Castle Rock Wealth Management LLC bought a new position in shares of SLB Limited (NYSE:SLB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,159 shares of the oil and gas company’s stock, valued at approximately $428,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Root Financial Partners LLC purchased a new stake in SLB in the 3rd quarter valued at about $29,000. Strategic Wealth Advisors LLC purchased a new position in shares of SLB during the 4th quarter worth about $30,000. Strengthening Families & Communities LLC purchased a new position in shares of SLB during the 3rd quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SLB in the fourth quarter worth approximately $31,000. Finally, Steph & Co. boosted its position in shares of SLB by 97.5% in the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 394 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on SLB. Argus raised shares of SLB to a “strong-buy” rating in a research report on Monday, January 26th. Freedom Capital cut shares of SLB from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Morgan Stanley set a $57.00 price objective on SLB in a report on Monday, April 27th. Barclays increased their target price on SLB from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Finally, The Goldman Sachs Group lifted their target price on SLB from $53.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, SLB currently has an average rating of “Moderate Buy” and a consensus target price of $59.74.

SLB Price Performance

SLB opened at $55.70 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. SLB Limited has a 52-week low of $31.64 and a 52-week high of $57.20. The company has a 50 day moving average of $51.29 and a two-hundred day moving average of $45.63. The company has a market cap of $83.28 billion, a P/E ratio of 24.32, a P/E/G ratio of 3.90 and a beta of 0.72.

SLB (NYSE:SLB) last issued its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 EPS. On average, analysts expect that SLB Limited will post 2.61 earnings per share for the current year.

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB’s payout ratio is currently 51.53%.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the sale, the director owned 16,953 shares of the company’s stock, valued at $921,056.49. This represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $56.18, for a total value of $2,998,832.22. Following the sale, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by corporate insiders.

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.