SLB Limited $SLB Stake Lowered by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lessened its position in SLB Limited (NYSE:SLB) by 12.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,774 shares of the oil and gas company’s stock after selling 1,206 shares during the period. First Citizens Bank & Trust Co.’s holdings in SLB were worth $297,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SLB. First Command Advisory Services Inc. lifted its position in SLB by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 477 shares during the period. Atticus Wealth Management LLC purchased a new position in SLB during the 2nd quarter worth approximately $29,000. Atlas Capital Advisors Inc. acquired a new position in SLB during the first quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of SLB by 55.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 350 shares during the period. Finally, Park Square Financial Group LLC purchased a new position in shares of SLB during the 1st quarter valued at $38,000. Institutional investors own 81.99% of the company’s stock.

Insider Transactions at SLB

In related news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the transaction, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by insiders.

SLB Stock Down 0.5%

Shares of SLB opened at $35.84 on Monday. SLB Limited has a 52 week low of $31.11 and a 52 week high of $44.97. The stock has a market capitalization of $53.55 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 9.92 and a beta of 0.97. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. The stock has a fifty day moving average of $34.66 and a 200-day moving average of $34.54.

SLB (NYSE:SLB) last released its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02. SLB had a net margin of 10.34% and a return on equity of 18.97%. The business had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.99 billion. During the same period in the prior year, the firm earned $0.89 earnings per share. The company’s revenue was down 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a yield of 3.2%. SLB’s payout ratio is currently 44.02%.

Wall Street Analysts Forecast Growth

SLB has been the subject of several analyst reports. Melius Research began coverage on SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 target price for the company. Piper Sandler set a $42.00 target price on shares of SLB and gave the company an “overweight” rating in a research note on Monday, October 20th. Wells Fargo & Company cut SLB from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. Susquehanna cut their price target on SLB from $44.00 to $42.00 and set a “positive” rating on the stock in a report on Monday, July 21st. Finally, Atb Cap Markets raised SLB from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.69.

SLB Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.