Mattson Financial Services LLC Decreases Stock Holdings in SLB Limited $SLB

Mattson Financial Services LLC lowered its holdings in SLB Limited (NYSE:SLB) by 60.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,874 shares of the oil and gas company’s stock after selling 28,275 shares during the period. Mattson Financial Services LLC’s holdings in SLB were worth $649,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SLB. Vanguard Group Inc. increased its holdings in SLB by 14.2% in the 2nd quarter. Vanguard Group Inc. now owns 150,317,566 shares of the oil and gas company’s stock valued at $5,080,734,000 after purchasing an additional 18,672,021 shares in the last quarter. Norges Bank purchased a new stake in shares of SLB in the second quarter worth about $618,697,000. Franklin Resources Inc. grew its stake in shares of SLB by 30.4% in the second quarter. Franklin Resources Inc. now owns 20,233,749 shares of the oil and gas company’s stock valued at $683,901,000 after buying an additional 4,719,852 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of SLB by 80.7% during the 2nd quarter. Lazard Asset Management LLC now owns 6,788,978 shares of the oil and gas company’s stock valued at $229,466,000 after buying an additional 3,031,906 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of SLB by 346.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,876,526 shares of the oil and gas company’s stock valued at $133,236,000 after buying an additional 3,007,911 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SLB. Piper Sandler upped their price target on SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Cowen restated a “buy” rating and issued a $57.00 target price on shares of SLB in a research note on Thursday, December 11th. Barclays dropped their price target on shares of SLB from $48.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Finally, Rothschild & Co Redburn started coverage on SLB in a research note on Monday, November 3rd. They set a “buy” rating and a $48.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.42.

Insider Activity at SLB

In other SLB news, Director Peter John Coleman sold 5,500 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total transaction of $197,010.00. Following the completion of the sale, the director owned 18,671 shares in the company, valued at $668,795.22. The trade was a 22.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephane Biguet sold 38,447 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $36.75, for a total transaction of $1,412,927.25. Following the sale, the chief financial officer directly owned 175,690 shares in the company, valued at $6,456,607.50. This trade represents a 17.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 103,947 shares of company stock valued at $3,871,337. Corporate insiders own 0.22% of the company’s stock.

SLB Price Performance

SLB opened at $37.88 on Tuesday. The company has a market capitalization of $56.59 billion, a P/E ratio of 14.63 and a beta of 0.73. The company has a 50-day moving average of $36.98 and a 200-day moving average of $35.45. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. SLB Limited has a 1-year low of $31.11 and a 1-year high of $44.66.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $8.93 billion during 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 revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the firm earned $0.89 earnings per share. Equities analysts expect that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Dividend Announcement

The company also recently declared 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. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Wednesday, December 3rd. SLB’s payout ratio is 44.02%.

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.