Sanders Capital LLC Decreases Holdings in SLB Limited $SLB

Sanders Capital LLC decreased its stake in SLB Limited (NYSE:SLB) by 22.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,590,519 shares of the oil and gas company’s stock after selling 2,234,218 shares during the period. Sanders Capital LLC owned 0.51% of SLB worth $260,886,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its stake in shares of SLB by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after purchasing an additional 1,166 shares during the last quarter. Bison Wealth LLC purchased a new position in SLB in the fourth quarter valued at approximately $238,000. Allworth Financial LP lifted its stake in SLB by 7.6% in the second quarter. Allworth Financial LP now owns 24,279 shares of the oil and gas company’s stock valued at $821,000 after purchasing an additional 1,721 shares during the last quarter. Vise Technologies Inc. bought a new position in SLB during the second quarter valued at $923,000. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in SLB by 1.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 207,156 shares of the oil and gas company’s stock valued at $7,002,000 after purchasing an additional 2,010 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 18,617 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.50, for a total transaction of $921,541.50. Following the completion of the transaction, the insider directly owned 224,097 shares in the company, valued at $11,092,801.50. The trade was a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephane Biguet sold 61,017 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $3,032,544.90. Following the completion of the transaction, the chief financial officer owned 155,548 shares in the company, valued at $7,730,735.60. This represents a 28.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 156,902 shares of company stock worth $7,796,666. Company insiders own 0.16% of the company’s stock.

SLB Trading Up 0.4%

Shares of SLB stock opened at $44.72 on Friday. The stock has a market capitalization of $67.19 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 3.03 and a beta of 0.68. The company’s fifty day simple moving average is $48.52 and its two-hundred day simple moving average is $40.40. SLB Limited has a 1 year low of $31.11 and a 1 year high of $52.45. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The firm had revenue of $9.75 billion during the quarter, compared to analyst estimates of $9.54 billion. During the same period last year, the company earned $0.92 earnings per share. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, analysts anticipate that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be issued a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This is a positive change from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.6%. SLB’s payout ratio is currently 49.79%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley restated an “overweight” rating and issued a $50.00 target price on shares of SLB in a research note on Wednesday, January 21st. Piper Sandler increased their price target on SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Citigroup lifted their price objective on SLB from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, January 26th. BMO Capital Markets boosted their price objective on SLB from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, Susquehanna upped their price objective on shares of SLB from $52.00 to $58.00 and gave the company a “positive” rating in a report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $53.16.

SLB 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.