Westwood Holdings Group Inc. Sells 218,794 Shares of SLB Limited $SLB

Westwood Holdings Group Inc. lessened its stake in shares of SLB Limited (NYSE:SLB) by 91.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,627 shares of the oil and gas company’s stock after selling 218,794 shares during the quarter. Westwood Holdings Group Inc.’s holdings in SLB were worth $697,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SLB. Legacy Wealth Asset Management LLC boosted its position in SLB by 2.2% during the second quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock worth $486,000 after purchasing an additional 308 shares during the period. EntryPoint Capital LLC lifted its stake in shares of SLB by 4.5% in the first 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. CreativeOne Wealth LLC lifted its stake in shares of SLB by 6.3% in the first quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock worth $236,000 after buying an additional 335 shares during the last quarter. NewSquare Capital LLC boosted its holdings in shares of SLB by 51.4% during the 2nd quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock worth $34,000 after buying an additional 341 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in 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 buying an additional 350 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

SLB Trading Down 1.3%

Shares of SLB opened at $38.95 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. The stock has a market cap of $58.18 billion, a PE ratio of 15.04 and a beta of 0.73. SLB Limited has a 1 year low of $31.11 and a 1 year high of $44.66. The stock has a 50 day simple moving average of $35.96 and a 200-day simple moving average of $35.18.

SLB (NYSE:SLB) last announced its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The business 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 firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the company posted $0.89 EPS. On average, sell-side analysts predict that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Announces Dividend

The firm 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 is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 2.9%. SLB’s dividend payout ratio is 44.02%.

Wall Street Analyst Weigh In

SLB has been the subject of a number of recent analyst reports. Melius assumed coverage on shares of SLB in a report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price target for the company. Piper Sandler set a $42.00 price objective on SLB and gave the stock an “overweight” rating in a research report on Monday, October 20th. Citigroup raised their target price on SLB from $47.00 to $53.00 and gave the company a “buy” rating in a report on Thursday. Barclays lifted their price target on SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Finally, UBS Group upped their price target on SLB from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.32.

Insider Activity at SLB

In other news, Director Peter John Coleman sold 5,500 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $35.82, for a total value of $197,010.00. Following the completion of the sale, the director directly owned 18,671 shares in the company, valued at approximately $668,795.22. This trade represents a 22.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total value of $2,261,400.00. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. Insiders sold 103,947 shares of company stock valued at $3,871,337 in the last three months. Corporate insiders own 0.22% of the company’s stock.

SLB 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.