SLB Limited $SLB Shares Sold by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC lowered its stake in SLB Limited (NYSE:SLB) by 48.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 42,976 shares of the oil and gas company’s stock after selling 40,413 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in SLB were worth $1,649,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SLB. Steph & Co. increased its position in shares of SLB by 97.5% during the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 394 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of SLB during the fourth quarter worth about $31,000. Root Financial Partners LLC acquired a new stake in SLB during the 3rd quarter valued at approximately $29,000. Eagle Bay Advisors LLC acquired a new stake in SLB during the 4th quarter valued at approximately $34,000. Finally, Strengthening Families & Communities LLC acquired a new stake in SLB during the 3rd quarter valued at approximately $31,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

SLB Trading Up 0.2%

NYSE:SLB opened at $57.00 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $50.67 and its two-hundred day moving average is $44.29. SLB Limited has a 52 week low of $31.64 and a 52 week high of $57.20. The company has a market cap of $85.65 billion, a PE ratio of 24.89, a P/E/G ratio of 4.02 and a beta of 0.69.

SLB (NYSE:SLB) last released its earnings results 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. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter last year, the business posted $0.72 EPS. SLB’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that SLB Limited will post 2.6 EPS for the current year.

SLB Announces Dividend

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

Insider Buying and Selling

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the transaction, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. TD Cowen raised their price objective on SLB from $55.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Wall Street Zen lowered SLB from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Citigroup raised their price objective on SLB from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus raised their price objective on SLB from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Bank of America raised their price objective on SLB from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, SLB presently has a consensus rating of “Moderate Buy” and an average target price of $58.95.

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.