Atria Investments Inc Boosts Stock Position in SLB Limited $SLB

Atria Investments Inc increased its stake in SLB Limited (NYSE:SLB) by 7.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,422 shares of the oil and gas company’s stock after buying an additional 5,744 shares during the quarter. Atria Investments Inc’s holdings in SLB were worth $2,820,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of 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 buying an additional 477 shares during the last quarter. Atticus Wealth Management LLC bought a new stake in SLB in the second quarter worth $29,000. Atlas Capital Advisors Inc. bought a new stake in SLB in the first quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in SLB by 55.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock worth $33,000 after buying an additional 350 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new stake in SLB in the first quarter worth $38,000. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SLB

In other news, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction dated 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 sale, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Zacks Research upgraded SLB from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Redburn Partners set a $48.00 target price on SLB in a research report on Monday. Barclays lifted their price objective on SLB from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Finally, Susquehanna decreased their price objective on SLB from $44.00 to $42.00 and set a “positive” rating for the company in a report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.28.

SLB Price Performance

SLB opened at $37.01 on Tuesday. The business’s 50-day moving average is $34.93 and its two-hundred day moving average is $34.63. SLB Limited has a 1 year low of $31.11 and a 1 year high of $44.97. 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 has a market capitalization of $55.29 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 10.19 and a beta of 0.97.

SLB (NYSE:SLB) last issued its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The business had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The company’s revenue was down 2.5% on a year-over-year basis. Research 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. Stockholders of record on Wednesday, December 3rd will be paid 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 dividend yield of 3.1%. SLB’s payout ratio is presently 44.02%.

About SLB

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.