Wealthfront Advisers LLC Cuts Position in SLB Limited $SLB

Wealthfront Advisers LLC reduced its stake in shares of SLB Limited (NYSE:SLB) by 18.4% in the second quarter, HoldingsChannel reports. The firm owned 204,139 shares of the oil and gas company’s stock after selling 45,953 shares during the period. Wealthfront Advisers LLC’s holdings in SLB were worth $6,900,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. New Hampshire Trust lifted its position in shares of SLB by 10.4% during the second quarter. New Hampshire Trust now owns 7,901 shares of the oil and gas company’s stock valued at $267,000 after buying an additional 745 shares during the last quarter. Ballast Advisors LLC raised its stake in shares of SLB by 22.9% during the 2nd quarter. Ballast Advisors LLC now owns 77,111 shares of the oil and gas company’s stock worth $2,606,000 after acquiring an additional 14,343 shares in the last quarter. MQS Management LLC bought a new position in shares of SLB during the 2nd quarter worth approximately $341,000. Rational Advisors Inc. lifted its position in SLB by 16.8% during 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 last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in SLB by 7.9% in the second quarter. State of New Jersey Common Pension Fund D now owns 577,133 shares of the oil and gas company’s stock valued at $19,507,000 after acquiring an additional 42,123 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. UBS Group reiterated a “buy” rating and set a $44.00 price objective on shares of SLB in a report on Tuesday, October 21st. Piper Sandler set a $42.00 target price on SLB and gave the company an “overweight” rating in a research report on Monday, October 20th. Melius Research initiated coverage on SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target for the company. Melius began coverage on SLB in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 price target on the stock. Finally, Stifel Nicolaus decreased their price objective on shares of SLB from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.69.

Insider Buying and Selling at SLB

In other news, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider owned 202,201 shares of the company’s stock, valued at $7,295,412.08. The trade was a 16.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.22% of the company’s stock.

SLB Price Performance

Shares of NYSE:SLB opened at $36.15 on Tuesday. SLB Limited has a twelve month low of $31.11 and a twelve month high of $44.97. 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 company has a market cap of $54.01 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 9.92 and a beta of 0.97. The company’s 50 day moving average is $34.72 and its 200 day moving average is $34.54.

SLB (NYSE:SLB) last released its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02. The business had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS. On average, sell-side analysts forecast that SLB Limited will post 3.38 EPS for the current 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 dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio (DPR) is currently 44.02%.

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.