Schwartz Investment Counsel Inc. Lowers Stock Position in SLB Limited $SLB

by · The Markets Daily

Schwartz Investment Counsel Inc. cut its stake in shares of SLB Limited (NYSE:SLB – Free Report) by 29.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 317,300 shares of the oil and gas company’s stock after selling 131,000 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in SLB were worth $10,906,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Formidable Asset Management LLC boosted its position in shares of SLB by 7.6% in the third quarter. Formidable Asset Management LLC now owns 10,428 shares of the oil and gas company’s stock worth $352,000 after purchasing an additional 740 shares during the period. Amalgamated Bank raised its position in shares of SLB by 9.7% during the 3rd quarter. Amalgamated Bank now owns 288,564 shares of the oil and gas company’s stock valued at $9,918,000 after purchasing an additional 25,581 shares during the period. FAS Wealth Partners Inc. lifted its stake in shares of SLB by 2.5% during the 3rd quarter. FAS Wealth Partners Inc. now owns 54,916 shares of the oil and gas company’s stock valued at $1,887,000 after buying an additional 1,328 shares in the last quarter. Fiduciary Family Office LLC boosted its holdings in SLB by 115.6% in the 3rd quarter. Fiduciary Family Office LLC now owns 14,312 shares of the oil and gas company’s stock worth $492,000 after buying an additional 7,675 shares during the period. Finally, Maryland State Retirement & Pension System increased its stake in SLB by 12.9% in the 3rd quarter. Maryland State Retirement & Pension System now owns 74,544 shares of the oil and gas company’s stock worth $2,562,000 after buying an additional 8,542 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. TD Cowen boosted their price objective on SLB from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Redburn Partners set a $48.00 target price on SLB in a research note on Monday, November 3rd. Susquehanna upped their price target on SLB from $42.00 to $52.00 and gave the stock a “positive” rating in a research note on Wednesday, January 7th. UBS Group increased their price objective on shares of SLB from $44.00 to $50.00 and gave the company a “buy” rating in a report on Friday, December 12th. Finally, Citigroup boosted their target price on shares of SLB from $47.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, SLB has an average rating of “Moderate Buy” and a consensus target price of $53.17.

Read Our Latest Stock Report on SLB

SLB Stock Up 0.3%

Shares of NYSE SLB opened at $46.73 on Monday. SLB Limited has a 1 year low of $31.11 and a 1 year high of $47.72. The firm has a 50-day simple moving average of $39.02 and a two-hundred day simple moving average of $36.28. The company has a market cap of $69.81 billion, a P/E ratio of 18.04 and a beta of 0.72. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01.

SLB (NYSE:SLB – Get Free Report) last released its earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The firm had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.99 billion. During the same quarter in the prior year, the firm posted $0.89 earnings per share. The company’s quarterly revenue was down 2.5% on a year-over-year basis. Research analysts anticipate that SLB Limited will post 3.38 earnings per share for the current year.

Insider Activity at SLB

In related news, Director Peter John Coleman sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total value of $197,010.00. Following the completion of the transaction, the director owned 18,671 shares of the company’s stock, valued at $668,795.22. The trade was a 22.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Stephane Biguet sold 38,447 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $36.75, for a total value of $1,412,927.25. Following the sale, the chief financial officer owned 175,690 shares of the company’s stock, valued at approximately $6,456,607.50. This represents a 17.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 103,947 shares of company stock valued at $3,871,337 over the last ninety days. 0.22% of the stock is owned by company insiders.

SLB Company Profile

(Free Report)

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.

Further Reading

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