Vertrix Wealth Management LLC Acquires New Stake in SLB Limited $SLB

Key Points

• Vertrix Wealth Management acquired 59,874 shares of SLB during the third quarter, valued at approximately $2.9 million. Institutional investors and hedge funds collectively own 81.99% of the company.
• Analyst sentiment remains favorable, with 24 Buy ratings, two Holds, and one Sell rating. SLB has a “Moderate Buy” consensus rating and an average price target of $62.38.
• SLB beat quarterly expectations, reporting $0.55 in earnings per share and $8.97 billion in revenue, while revenue increased 5% year over year. The company pays a quarterly dividend of $0.295, yielding about 2.4% annually.

Vertrix Wealth Management LLC purchased a new position in SLB Limited (NYSE:SLB - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 59,874 shares of the oil and gas company's stock, valued at approximately $2,917,000.

A number of other large investors have also modified their holdings of the company. Evergreen Advisors LLC bought a new position in SLB during the first quarter worth about $26,000. MV Capital Management Inc. bought a new position in shares of SLB in the fourth quarter valued at about $28,000. Costello Asset Management INC lifted its position in shares of SLB by 93.3% during the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 280 shares in the last quarter. Arlington Trust Co LLC boosted its position in SLB by 66.5% in the 2nd quarter. Arlington Trust Co LLC now owns 701 shares of the oil and gas company's stock valued at $33,000 after buying an additional 280 shares during the last quarter. Finally, Maryland Capital Advisors Inc. bought a new position in SLB in the second quarter valued at about $35,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SLB shares. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of SLB in a report on Tuesday, September 1st. TD Cowen increased their price objective on shares of SLB from $62.00 to $64.00 in a research report on Wednesday, August 5th. HSBC dropped their target price on SLB from $71.00 to $68.00 and set a "buy" rating on the stock in a research report on Thursday, June 18th. Zacks Research raised shares of SLB from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 25th. Finally, Evercore raised their target price on shares of SLB from $63.00 to $66.00 in a research note on Thursday, October 8th. Twenty-four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $62.38.

SLB Price Performance

Shares of NYSE:SLB opened at $48.73 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. SLB Limited has a 52 week low of $31.64 and a 52 week high of $60.46. The firm's fifty day moving average is $52.97 and its 200-day moving average is $52.25. The firm has a market cap of $72.33 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 2.68 and a beta of 0.83.

SLB (NYSE:SLB - Get Free Report) last released its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. SLB had a net margin of 8.53% and a return on equity of 14.05%. The company had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same quarter in the previous year, the company earned $0.74 EPS. SLB's quarterly revenue was up 5.0% compared to the same quarter last year. Sell-side analysts predict that SLB Limited will post 2.49 earnings per share for the current year.

SLB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd were paid a $0.2950 dividend. The ex-dividend date was Wednesday, September 2nd. This represents a $1.18 annualized dividend and a dividend yield of 2.4%. SLB's dividend payout ratio (DPR) is presently 57.00%.

SLB Company Profile

SLB, formerly known as Schlumberger, is a global technology and services company serving the energy industry. The company provides equipment, technology, and technical expertise used to evaluate underground reservoirs, drill and complete wells, and optimize oil and natural gas production.

Its offerings include seismic and subsurface evaluation, well construction and drilling services, well completions, production systems, reservoir management, artificial lift, and related software and digital solutions.

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