SLB Limited $SLB Stock Holdings Boosted by Laurel Wealth Advisors LLC

Laurel Wealth Advisors LLC increased its position in shares of SLB Limited (NYSE:SLB) by 3,911.7% during the second quarter, Holdings Channel.com reports. The fund owned 214,664 shares of the oil and gas company’s stock after acquiring an additional 209,313 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in SLB were worth $7,256,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SLB. Atticus Wealth Management LLC bought a new position in shares of SLB in the second quarter valued at $29,000. Atlas Capital Advisors Inc. acquired a new position in shares of SLB in the first quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of SLB by 55.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 350 shares during the period. NewSquare Capital LLC boosted its stake in SLB by 51.4% in the 2nd quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 341 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new stake in SLB during the 1st quarter valued at $40,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Transactions at SLB

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the sale, the executive vice president directly owned 159,371 shares of the company’s stock, valued at $6,006,692.99. This represents a 27.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider directly owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 138,174 shares of company stock valued at $5,107,677 in the last three months. 0.22% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. UBS Group reaffirmed a “buy” rating and set a $44.00 target price on shares of SLB in a research note on Tuesday, October 21st. Weiss Ratings restated a “hold (c-)” rating on shares of SLB in a research note on Wednesday, October 8th. Piper Sandler set a $42.00 price objective on SLB and gave the stock an “overweight” rating in a report on Monday, October 20th. Melius Research assumed coverage on shares of SLB in a research report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 target price for the company. Finally, Citigroup increased their target price on shares of SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.28.

SLB Trading Down 0.6%

SLB stock opened at $35.69 on Thursday. The stock has a market cap of $53.31 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 10.19 and a beta of 0.97. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. SLB Limited has a 12 month low of $31.11 and a 12 month high of $44.66. The business has a 50 day moving average price of $35.08 and a two-hundred day moving average price of $34.87.

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 analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. The business’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.89 EPS. As a group, equities analysts forecast that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be issued 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 dividend yield of 3.2%. SLB’s dividend payout ratio (DPR) is presently 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.