Barings LLC Has $4.26 Million Position in SLB Limited $SLB

Barings LLC lessened its stake in shares of SLB Limited (NYSE:SLB) by 1.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 126,156 shares of the oil and gas company’s stock after selling 1,592 shares during the quarter. Barings LLC’s holdings in SLB were worth $4,264,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SLB. Atticus Wealth Management LLC acquired a new stake in SLB during the second quarter worth approximately $29,000. Atlas Capital Advisors Inc. bought a new position in shares of SLB during the first quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in SLB by 55.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 350 shares during the last quarter. NewSquare Capital LLC boosted its stake in SLB by 51.4% in the 2nd quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 341 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new position in SLB in the 1st quarter valued at $40,000. Institutional investors own 81.99% of the company’s stock.

Insider Activity at SLB

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’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 value of $2,261,400.00. Following 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the sale, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 138,174 shares of company stock valued at $5,107,677 over the last ninety days. 0.22% of the stock is owned by corporate insiders.

SLB Stock Performance

Shares of SLB stock 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 company has a market cap of $54.11 billion, a PE ratio of 13.98, a price-to-earnings-growth 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 $34.84. SLB Limited has a 1-year low of $31.11 and a 1-year high of $44.97.

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

SLB Announces Dividend

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 given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Wednesday, December 3rd. SLB’s dividend payout ratio is currently 44.02%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SLB. JPMorgan Chase & Co. reduced their target price on shares of SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Melius Research began coverage on shares of SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective for the company. Piper Sandler set a $42.00 target price on shares of SLB and gave the stock an “overweight” rating in a research report on Monday, October 20th. Melius began coverage on shares of SLB in a research report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target for the company. Finally, Rothschild Redb upgraded SLB to a “strong-buy” rating in a research note on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.28.

SLB 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.