SLB Limited $SLB Shares Sold by Gradient Investments LLC

Gradient Investments LLC cut its holdings in SLB Limited (NYSE:SLB) by 22.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,181 shares of the oil and gas company’s stock after selling 26,330 shares during the quarter. Gradient Investments LLC’s holdings in SLB were worth $3,500,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SLB. Sound View Wealth Advisors Group LLC increased its position in SLB by 7.7% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 15,591 shares of the oil and gas company’s stock worth $598,000 after purchasing an additional 1,115 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of SLB by 29.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 207,267 shares of the oil and gas company’s stock worth $7,955,000 after buying an additional 46,793 shares in the last quarter. Peoples Bank KS acquired a new position in shares of SLB in the fourth quarter valued at approximately $219,000. Wedmont Private Capital raised its position in shares of SLB by 23.7% in the fourth quarter. Wedmont Private Capital now owns 11,847 shares of the oil and gas company’s stock valued at $502,000 after buying an additional 2,268 shares during the last quarter. Finally, Greenhaven Associates Inc. purchased a new position in shares of SLB during the fourth quarter valued at approximately $178,883,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on SLB. Argus upgraded SLB to a “strong-buy” rating in a report on Monday, January 26th. Evercore set a $54.00 price objective on SLB and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Sanford C. Bernstein upped their target price on SLB from $52.30 to $56.10 and gave the company an “outperform” rating in a research note on Thursday, March 12th. Piper Sandler raised 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. Finally, BMO Capital Markets lifted their price target on SLB from $53.00 to $55.00 and gave the company an “outperform” 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 assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, SLB has a consensus rating of “Moderate Buy” and an average target price of $53.16.

SLB Stock Up 5.5%

Shares of NYSE:SLB opened at $49.20 on Tuesday. The company has a market capitalization of $73.93 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 3.32 and a beta of 0.68. The company has a 50 day moving average of $48.82 and a two-hundred day moving average of $40.91. SLB Limited has a 52-week low of $31.11 and a 52-week high of $52.45. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36.

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

SLB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be issued a $0.295 dividend. This is a boost from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, February 11th. SLB’s dividend payout ratio is presently 49.79%.

Insider Activity at SLB

In other news, CFO Stephane Biguet sold 61,017 shares of the firm’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $3,032,544.90. Following the transaction, the chief financial officer directly owned 155,548 shares in the company, valued at approximately $7,730,735.60. This trade represents a 28.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director La Chevardiere Patrick De sold 4,000 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $50.29, for a total transaction of $201,160.00. Following the completion of the transaction, the director directly owned 19,525 shares in the company, valued at $981,912.25. This represents a 17.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 156,902 shares of company stock valued at $7,796,666 in the last ninety days. 0.16% of the stock is owned by insiders.

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.