Sargent Investment Group LLC Has $2.42 Million Stake in SLB Limited $SLB

Sargent Investment Group LLC cut its position in SLB Limited (NYSE:SLB) by 15.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 63,013 shares of the oil and gas company’s stock after selling 11,666 shares during the quarter. Sargent Investment Group LLC’s holdings in SLB were worth $2,418,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of SLB by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 1,166 shares in the last quarter. Bison Wealth LLC acquired a new position in shares of SLB during the 4th quarter worth $238,000. Marshall Wace LLP bought a new stake in shares of SLB during the 2nd quarter worth $8,628,000. Nebula Research & Development LLC boosted its stake in SLB by 76.0% in the second quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company’s stock valued at $824,000 after buying an additional 10,522 shares in the last quarter. Finally, Diversify Advisory Services LLC boosted its stake in SLB by 7.6% in the second quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company’s stock valued at $373,000 after buying an additional 799 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

SLB has been the subject of several research analyst reports. Piper Sandler boosted their target price on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Evercore restated an “outperform” rating and issued a $64.00 price target on shares of SLB in a research note on Monday, April 27th. Barclays increased their price objective on shares of SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. BMO Capital Markets raised their target price on shares of SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Finally, Weiss Ratings cut shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.67.

Insider Buying and Selling at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the sale, the executive vice president owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the transaction, the director owned 16,953 shares of the company’s stock, valued at $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is owned by company insiders.

SLB Stock Down 0.3%

NYSE:SLB opened at $56.03 on Monday. SLB Limited has a one year low of $31.64 and a one year high of $58.82. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The company has a market cap of $83.76 billion, a PE ratio of 24.47, a P/E/G ratio of 2.28 and a beta of 0.70. The firm’s 50 day simple moving average is $54.64 and its 200 day simple moving average is $48.60.

SLB (NYSE:SLB) last announced its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 EPS. On average, research analysts anticipate that SLB Limited will post 2.62 earnings per share for the current year.

SLB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s dividend payout ratio (DPR) is currently 51.53%.

About SLB

SLB (NYSE: SLB), historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB’s product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.