Nisa Investment Advisors LLC Sells 44,089 Shares of SLB Limited $SLB

Nisa Investment Advisors LLC decreased its position in SLB Limited (NYSE:SLB) by 15.3% during the second quarter, Holdings Channel reports. The fund owned 244,953 shares of the oil and gas company’s stock after selling 44,089 shares during the period. Nisa Investment Advisors LLC’s holdings in SLB were worth $8,347,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Resonant Capital Advisors LLC lifted its holdings in SLB by 24.1% in the second quarter. Resonant Capital Advisors LLC now owns 7,043 shares of the oil and gas company’s stock valued at $240,000 after acquiring an additional 1,369 shares during the period. New Hampshire Trust lifted its holdings in SLB by 10.4% in the second quarter. New Hampshire Trust now owns 7,901 shares of the oil and gas company’s stock valued at $267,000 after acquiring an additional 745 shares during the period. Ballast Advisors LLC lifted its holdings in SLB by 22.9% in the second quarter. Ballast Advisors LLC now owns 77,111 shares of the oil and gas company’s stock valued at $2,606,000 after acquiring an additional 14,343 shares during the period. MQS Management LLC bought a new position in SLB in the second quarter valued at about $341,000. Finally, Rational Advisors Inc. lifted its holdings in SLB by 16.8% in the second quarter. Rational Advisors Inc. now owns 16,081 shares of the oil and gas company’s stock valued at $544,000 after acquiring an additional 2,308 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

SLB has been the subject of a number of analyst reports. Piper Sandler set a $42.00 price target on SLB and gave the stock an “overweight” rating in a research report on Monday, October 20th. Atb Cap Markets upgraded SLB from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 1st. Weiss Ratings restated a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price target on SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Finally, Stifel Nicolaus reduced their price target on SLB from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $51.69.

SLB Stock Performance

NYSE:SLB opened at $36.15 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. SLB Limited has a 12-month low of $31.11 and a 12-month high of $44.97. The stock has a 50-day moving average price of $34.72 and a 200 day moving average price of $34.54. The stock has a market capitalization of $54.01 billion, a P/E ratio of 13.96, a P/E/G ratio of 9.92 and a beta of 0.97.

SLB (NYSE:SLB) last released its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The firm had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.99 billion. During the same quarter last year, the business posted $0.89 earnings per share. The firm’s revenue was down 2.5% on a year-over-year basis. Equities research analysts forecast that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, December 3rd. SLB’s dividend payout ratio (DPR) is currently 44.02%.

Insiders Place Their Bets

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider owned 202,201 shares in the company, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.22% of the stock is owned by corporate insiders.

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.