SLB Limited (NYSE:SLB) Short Interest Update

SLB Limited (NYSE:SLB) saw a large increase in short interest in December. As of December 15th, there was short interest totaling 41,255,231 shares, an increase of 38.7% from the November 30th total of 29,740,190 shares. Approximately 2.8% of the company’s stock are sold short. Based on an average daily volume of 16,080,540 shares, the short-interest ratio is presently 2.6 days. Based on an average daily volume of 16,080,540 shares, the short-interest ratio is presently 2.6 days. Approximately 2.8% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SLB. Redburn Partners set a $48.00 target price on shares of SLB in a research note on Monday, November 3rd. TD Cowen boosted their price objective on SLB from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Rothschild Redb raised SLB to a “strong-buy” rating in a research note on Monday, November 3rd. Piper Sandler boosted their price target on shares of SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Finally, Rothschild & Co Redburn began coverage on SLB in a research report on Monday, November 3rd. They set a “buy” rating and a $48.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.42.

SLB Trading Up 1.7%

SLB stock traded up $0.65 during trading on Tuesday, hitting $38.55. The company had a trading volume of 7,708,895 shares, compared to its average volume of 16,056,115. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. The company has a 50 day simple moving average of $36.98 and a 200-day simple moving average of $35.45. The firm has a market capitalization of $57.59 billion, a P/E ratio of 14.88 and a beta of 0.73. SLB has a 52-week low of $31.11 and a 52-week high of $44.66.

SLB (NYSE:SLB) last released its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The firm had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.99 billion. During the same period in the previous year, the company posted $0.89 earnings per share. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, research analysts forecast that SLB will post 3.38 earnings per share for the current fiscal year.

SLB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio (DPR) is presently 44.02%.

Insider Activity at SLB

In related news, EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total value of $2,261,400.00. Following the completion of the sale, the executive vice president directly owned 159,371 shares in the company, valued at approximately $6,006,692.99. This trade represents a 27.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter John Coleman sold 5,500 shares of SLB stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $35.82, for a total transaction of $197,010.00. Following the completion of the sale, the director directly owned 18,671 shares of the company’s stock, valued at approximately $668,795.22. This trade represents a 22.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 103,947 shares of company stock valued at $3,871,337. 0.22% of the stock is owned by insiders.

Institutional Trading of SLB

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC bought a new stake in SLB during the second quarter valued at about $25,000. Root Financial Partners LLC bought a new stake in shares of SLB in the 3rd quarter valued at about $29,000. Atticus Wealth Management LLC purchased a new position in shares of SLB in the 2nd quarter worth approximately $29,000. Corsicana & Co. bought a new position in shares of SLB during the 3rd quarter worth approximately $31,000. Finally, Strengthening Families & Communities LLC purchased a new stake in SLB during the third quarter valued at approximately $31,000. Institutional investors own 81.99% 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.