SLB Limited $SLB Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. lowered its stake in shares of SLB Limited (NYSE:SLB) by 3.9% during the fourth quarter, Holdings Channel reports. The fund owned 574,577 shares of the oil and gas company’s stock after selling 23,343 shares during the quarter. SLB comprises 0.6% of Dana Investment Advisors Inc.’s portfolio, making the stock its 28th biggest holding. Dana Investment Advisors Inc.’s holdings in SLB were worth $22,052,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research firms recently weighed in on SLB. UBS Group increased their target price on SLB from $61.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. BMO Capital Markets increased their target price on SLB from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Piper Sandler increased their target price on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Evercore reiterated an “outperform” rating and set a $64.00 target price on shares of SLB in a research report on Monday, April 27th. Finally, Sanford C. Bernstein increased their target price on SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research report on Monday. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.74.

SLB Stock Performance

SLB stock opened at $55.33 on Friday. The stock’s 50-day moving average is $51.44 and its 200-day moving average is $45.70. The company has a market cap of $82.72 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 3.92 and a beta of 0.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. SLB Limited has a 12 month low of $31.64 and a 12 month high of $57.20.

SLB (NYSE:SLB) last released its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.72 EPS. Equities analysts anticipate that SLB Limited will post 2.61 earnings per share for the current year.

SLB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio (DPR) is 51.53%.

Insider Transactions at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s 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 transaction, the executive vice president directly owned 47,421 shares in the company, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of the transaction, the director owned 16,953 shares in the company, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.16% of the company’s stock.

SLB Company Profile

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.