44,617 Shares of SLB Limited $SLB Purchased by VCI Wealth Management LLC

VCI Wealth Management LLC bought a new position in SLB Limited (NYSE:SLB) in the third quarter, Holdings Channel.com reports. The institutional investor bought 44,617 shares of the oil and gas company’s stock, valued at approximately $2,174,000.

Several other hedge funds have also modified their holdings of SLB. Evergreen Advisors LLC bought a new stake in shares of SLB in the 1st quarter valued at about $26,000. Costello Asset Management INC grew its position in shares of SLB by 93.3% in the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after buying an additional 280 shares during the last quarter. Arlington Trust Co LLC grew its position in shares of SLB by 66.5% in the 2nd quarter. Arlington Trust Co LLC now owns 701 shares of the oil and gas company’s stock worth $33,000 after buying an additional 280 shares during the last quarter. Signature Equity Partners LLC grew its position in shares of SLB by 42.5% in the 3rd quarter. Signature Equity Partners LLC now owns 751 shares of the oil and gas company’s stock worth $37,000 after buying an additional 224 shares during the last quarter. Finally, Maryland Capital Advisors Inc. bought a new position in shares of SLB during the 2nd quarter worth approximately $35,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group decreased their target price on shares of SLB from $63.00 to $62.00 in a research report on Tuesday, July 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SLB in a report on Friday. Susquehanna lifted their price target on shares of SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a report on Monday, July 27th. TD Cowen reaffirmed a “buy” rating on shares of SLB in a research report on Monday, October 26th. Finally, Raymond James Financial reduced their price target on SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. Twenty-four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, SLB has a consensus rating of “Moderate Buy” and an average price target of $61.52.

Insider Buying and Selling at SLB

In other SLB news, insider Dianne Ralston sold 20,986 shares of the stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $53.57, for a total transaction of $1,124,220.02. Following the sale, the insider directly owned 205,053 shares of the company’s stock, valued at approximately $10,984,689.21. This trade represents a 9.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Howard Guild sold 10,047 shares of the stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $53.65, for a total value of $539,021.55. Following the sale, the chief accounting officer directly owned 12,845 shares in the company, valued at $689,134.25. This represents a 43.89% 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 currently owned by corporate insiders.

SLB Stock Down 2.8%

SLB stock opened at $52.25 on Tuesday. The firm’s fifty day simple moving average is $52.47 and its 200-day simple moving average is $51.40. The company has a market capitalization of $77.55 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 2.95 and a beta of 0.83. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.39 and a quick ratio of 1.02. SLB Limited has a 12 month low of $34.65 and a 12 month high of $60.46.

SLB (NYSE:SLB) last issued its earnings results on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. SLB had a net margin of 8.40% and a return on equity of 13.77%. The firm had revenue of $9.45 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter last year, the company posted $0.69 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts forecast that SLB Limited will post 2.46 earnings per share for the current year.

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Wednesday, December 2nd will be issued a $0.2950 dividend. This represents a $1.18 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, December 2nd. SLB’s dividend payout ratio is presently 57.28%.

SLB Company Profile

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.