Archer Investment Corp Reduces Holdings in SLB Limited $SLB

Archer Investment Corp decreased its holdings in SLB Limited (NYSE:SLB) by 85.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,052 shares of the oil and gas company’s stock after selling 6,040 shares during the quarter. Archer Investment Corp’s holdings in SLB were worth $36,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in SLB by 14.2% during the second 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of SLB by 478.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock worth $1,994,674,000 after buying an additional 39,474,501 shares in the last quarter. Boston Partners lifted its position in SLB by 27.7% in the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock worth $824,160,000 after purchasing an additional 4,300,222 shares during the period. Northern Trust Corp grew its holdings in SLB by 4.4% during the first quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock worth $602,860,000 after acquiring an additional 604,832 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of SLB by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 9,681,754 shares of the oil and gas company’s stock worth $327,243,000 after purchasing an additional 114,190 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the transaction, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the completion of the sale, the executive vice president directly owned 159,371 shares of the company’s stock, valued at $6,006,692.99. The trade was a 27.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 138,174 shares of company stock valued at $5,107,677 over the last ninety days. Insiders own 0.22% of the company’s stock.

SLB Stock Performance

NYSE SLB opened at $36.22 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. The firm has a market cap of $54.11 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 10.19 and a beta of 0.97. The company has a 50 day moving average of $35.03 and a 200-day moving average of $34.83. SLB Limited has a 1-year low of $31.11 and a 1-year high of $44.97.

SLB (NYSE:SLB) last announced its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The company had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.99 billion. During the same period last year, the company posted $0.89 earnings per share. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities analysts forecast that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be issued a $0.285 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a yield of 3.1%. SLB’s dividend payout ratio (DPR) is currently 44.02%.

Analyst Ratings Changes

SLB has been the subject of a number of recent analyst reports. Melius began coverage on SLB in a research report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target for the company. Citigroup lifted their price target on SLB from $46.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Piper Sandler set a $42.00 price target on SLB and gave the stock an “overweight” rating in a research note on Monday, October 20th. Rothschild Redb upgraded shares of SLB to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Melius Research started coverage on shares of SLB in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.28.

SLB Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.