LJI Wealth Management LLC Sells 726 Shares of SLB Limited $SLB

LJI Wealth Management LLC lowered its position in SLB Limited (NYSE:SLB) by 6.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,955 shares of the oil and gas company’s stock after selling 726 shares during the period. LJI Wealth Management LLC’s holdings in SLB were worth $336,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SLB. First Command Advisory Services Inc. boosted its holdings in SLB by 300.0% in the 1st 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 period. Atticus Wealth Management LLC bought a new position in shares of SLB during the 2nd quarter valued at about $29,000. Atlas Capital Advisors Inc. bought a new position in shares of SLB during the 1st quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of SLB by 55.3% during 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 purchasing an additional 350 shares during the last quarter. Finally, Alpine Bank Wealth Management bought a new position in shares of SLB during the 1st quarter valued at about $34,000. Institutional investors own 81.99% of the company’s stock.

SLB Stock Up 3.3%

Shares of NYSE SLB opened at $36.06 on Friday. The firm’s 50-day moving average price is $34.61 and its 200-day moving average price is $34.51. 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 capitalization of $53.86 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 9.66 and a beta of 0.97. SLB Limited has a 12-month low of $31.11 and a 12-month high of $44.97.

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, beating the consensus estimate of $0.67 by $0.02. SLB had a net margin of 10.34% and a return on equity of 18.97%. The firm had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.99 billion. During the same period in the prior year, the company earned $0.89 EPS. The business’s revenue was down 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio is 44.02%.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction dated 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 sale, the insider directly owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This represents a 16.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.22% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on SLB shares. Melius Research started coverage on shares of SLB in a report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective for the company. Piper Sandler set a $42.00 price objective on shares of SLB and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. dropped their price objective on shares of SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Monday. Jefferies Financial Group dropped their price objective on shares of SLB from $54.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, June 26th. Finally, Atb Cap Markets upgraded shares of SLB from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.69.

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.