First Command Advisory Services Inc. Boosts Holdings in SLB Limited $SLB

First Command Advisory Services Inc. raised its holdings in SLB Limited (NYSE:SLB) by 1,593.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,772 shares of the oil and gas company’s stock after purchasing an additional 10,136 shares during the quarter. First Command Advisory Services Inc.’s holdings in SLB were worth $364,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SLB. Legacy Wealth Asset Management LLC lifted its stake in SLB by 2.2% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock valued at $486,000 after buying an additional 308 shares in the last quarter. EntryPoint Capital LLC increased its holdings in shares of SLB by 4.5% during the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock worth $307,000 after buying an additional 316 shares during the last quarter. Horizon Investments LLC increased its holdings in shares of SLB by 1.5% during the 1st quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock worth $946,000 after buying an additional 330 shares during the last quarter. CreativeOne Wealth LLC increased its holdings in SLB by 6.3% in the 1st quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock valued at $236,000 after purchasing an additional 335 shares during the last quarter. Finally, Forza Wealth Management LLC increased its holdings in SLB by 5.8% in the 1st quarter. Forza Wealth Management LLC now owns 6,374 shares of the oil and gas company’s stock valued at $266,000 after purchasing an additional 350 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SLB. Melius began coverage on shares of SLB in a research report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target for the company. Zacks Research raised shares of SLB from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Barclays lifted their price target on shares of SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. UBS Group reiterated a “buy” rating and set a $44.00 price target on shares of SLB in a research note on Tuesday, October 21st. Finally, Piper Sandler set a $42.00 price objective on shares of SLB and gave the company an “overweight” rating in a research note on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.69.

SLB Stock Down 0.5%

Shares of NYSE SLB opened at $35.84 on Monday. SLB Limited has a 12-month low of $31.11 and a 12-month high of $44.97. The company has a market capitalization of $53.55 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 9.92 and a beta of 0.97. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. The firm’s 50-day moving average is $34.66 and its two-hundred day moving average is $34.54.

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

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be given a dividend of $0.285 per share. 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 dividend payout ratio is 44.02%.

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.