SLB Limited $SLB Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lessened its holdings in SLB Limited (NYSE:SLB) by 49.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,649 shares of the oil and gas company’s stock after selling 16,032 shares during the quarter. Edgestream Partners L.P.’s holdings in SLB were worth $856,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SLB. Evergreen Advisors LLC purchased a new stake in SLB during the 1st quarter worth about $26,000. MV Capital Management Inc. purchased a new position in shares of SLB in the 4th quarter valued at about $28,000. Strategic Wealth Advisors LLC purchased a new position in shares of SLB in the 4th quarter valued at about $30,000. Costello Asset Management INC raised its position in shares of SLB by 93.3% during the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 280 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SLB during the 4th quarter worth about $31,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total transaction of $108,660.00. Following the transaction, the director directly owned 16,953 shares in the company, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SLB. Piper Sandler upped their price target on SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Weiss Ratings cut shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Morgan Stanley boosted their price objective on shares of SLB from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. BMO Capital Markets upped their target price on shares of SLB from $59.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Finally, Barclays upped their target price on shares of SLB from $64.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, SLB currently has an average rating of “Moderate Buy” and a consensus target price of $61.35.

SLB Stock Up 3.2%

SLB stock opened at $50.87 on Wednesday. The company has a market capitalization of $75.49 billion, a P/E ratio of 24.57, a PEG ratio of 3.26 and a beta of 0.73. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The stock has a 50-day simple moving average of $50.12 and a 200-day simple moving average of $50.85.

SLB (NYSE:SLB) last released its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. Equities research analysts expect that SLB Limited will post 2.5 earnings per share for the current year.

SLB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be issued a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB’s dividend payout ratio is presently 57.00%.

About SLB

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.