Whalen Wealth Management Inc. Buys 3,677 Shares of SLB Limited $SLB

Whalen Wealth Management Inc. boosted its holdings in shares of SLB Limited (NYSE:SLB) by 27.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 17,215 shares of the oil and gas company’s stock after buying an additional 3,677 shares during the period. Whalen Wealth Management Inc.’s holdings in SLB were worth $582,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in SLB by 478.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock valued at $1,994,674,000 after buying an additional 39,474,501 shares during the period. Boston Partners boosted its stake in SLB by 27.7% during the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock valued at $824,160,000 after buying an additional 4,300,222 shares during the period. Northern Trust Corp boosted its stake in SLB by 4.4% during the first quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock valued at $602,860,000 after buying an additional 604,832 shares during the period. Dimensional Fund Advisors LP boosted its stake in SLB by 22.8% during the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company’s stock valued at $375,738,000 after buying an additional 1,667,203 shares during the period. Finally, Invesco Ltd. boosted its stake in SLB by 3.8% during the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company’s stock valued at $320,154,000 after buying an additional 281,937 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Activity at SLB

In other news, insider Dianne B. Ralston sold 39,727 shares of SLB 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 transaction, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SLB shares. Piper Sandler set a $42.00 price objective on SLB and gave the company an “overweight” rating in a research note on Monday, October 20th. Melius Research began coverage on SLB in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 price target for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SLB in a research note on Wednesday, October 8th. Melius began coverage on SLB in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 price target for the company. Finally, Barclays lifted their price target on SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.69.

SLB Stock Down 0.8%

SLB opened at $35.86 on Wednesday. The company has a market cap of $53.57 billion, a P/E ratio of 13.84, a P/E/G ratio of 10.01 and a beta of 0.97. The business’s 50-day moving average price is $34.77 and its 200-day moving average price is $34.56. 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.

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, topping the consensus estimate of $0.67 by $0.02. The firm had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.99 billion. SLB had a return on equity of 18.97% and a net margin of 10.34%.The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 earnings per share. On average, equities analysts expect that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

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

SLB Company Profile

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.