SLB Limited $SLB Position Boosted by WealthTrust Axiom LLC

WealthTrust Axiom LLC lifted its holdings in SLB Limited (NYSE:SLB) by 11.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 143,309 shares of the oil and gas company’s stock after purchasing an additional 14,887 shares during the quarter. SLB accounts for approximately 1.4% of WealthTrust Axiom LLC’s holdings, making the stock its 21st largest position. WealthTrust Axiom LLC’s holdings in SLB were worth $4,844,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of SLB. Nuveen LLC acquired a new stake in shares of SLB in the first quarter valued at $169,232,000. Assetmark Inc. raised its position in SLB by 19.5% in the second quarter. Assetmark Inc. now owns 56,561 shares of the oil and gas company’s stock worth $1,912,000 after acquiring an additional 9,210 shares in the last quarter. Shell Asset Management Co. lifted its holdings in SLB by 48.1% in the 2nd quarter. Shell Asset Management Co. now owns 62,737 shares of the oil and gas company’s stock valued at $2,121,000 after acquiring an additional 20,387 shares during the last quarter. Godsey & Gibb Inc. boosted its position in shares of SLB by 9.6% during the 2nd quarter. Godsey & Gibb Inc. now owns 493,092 shares of the oil and gas company’s stock valued at $16,667,000 after purchasing an additional 43,135 shares in the last quarter. Finally, Emerald Advisors LLC bought a new position in shares of SLB during the 2nd quarter valued at about $352,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In related 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 value of $1,433,350.16. Following the transaction, the insider directly owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephane Biguet sold 38,447 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $36.75, for a total value of $1,412,927.25. Following the sale, the chief financial officer directly owned 175,690 shares of the company’s stock, valued at $6,456,607.50. The trade was a 17.95% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 138,174 shares of company stock valued at $5,107,677. Insiders own 0.22% of the company’s stock.

SLB Stock Performance

Shares of NYSE SLB opened at $35.69 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. SLB Limited has a one year low of $31.11 and a one year high of $44.66. The business’s 50-day moving average price is $35.10 and its two-hundred day moving average price is $34.88. The company has a market capitalization of $53.31 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 10.19 and a beta of 0.97.

SLB (NYSE:SLB) last announced its quarterly 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 return on equity of 18.97% and a net margin of 10.34%.The business had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.99 billion. During the same period in the previous year, the company earned $0.89 EPS. The firm’s revenue was down 2.5% on a year-over-year basis. Analysts anticipate that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Announces Dividend

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

Analyst Ratings Changes

SLB has been the topic of a number of recent analyst reports. Citigroup boosted their target price on SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Piper Sandler set a $42.00 price objective on shares of SLB and gave the company an “overweight” rating in a research note on Monday, October 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Rothschild Redb upgraded shares of SLB to a “strong-buy” rating in a research report on Monday, November 3rd. Finally, Zacks Research upgraded shares of SLB from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.28.

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.