SLB Limited $SLB Shares Sold by Associated Banc Corp

Associated Banc Corp cut its holdings in SLB Limited (NYSE:SLB) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,155 shares of the oil and gas company’s stock after selling 1,533 shares during the quarter. Associated Banc Corp’s holdings in SLB were worth $1,222,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC boosted its position in shares of SLB by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after buying an additional 1,166 shares during the period. Bison Wealth LLC acquired a new position in SLB during the fourth quarter worth $238,000. AE Wealth Management LLC raised its stake in shares of SLB by 33.8% in the 1st quarter. AE Wealth Management LLC now owns 21,796 shares of the oil and gas company’s stock valued at $911,000 after acquiring an additional 5,508 shares in the last quarter. Avantax Advisory Services Inc. raised its position in shares of SLB by 20.6% in the first quarter. Avantax Advisory Services Inc. now owns 99,786 shares of the oil and gas company’s stock valued at $4,171,000 after purchasing an additional 17,046 shares during the period. Finally, Cetera Investment Advisers lifted its position in SLB by 42.5% during the 1st quarter. Cetera Investment Advisers now owns 305,867 shares of the oil and gas company’s stock worth $12,785,000 after acquiring an additional 91,280 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Rothschild Redb upgraded SLB to a “strong-buy” rating in a research note on Monday, November 3rd. Zacks Research raised SLB from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Rothschild & Co Redburn initiated coverage on SLB in a report on Monday, November 3rd. They set a “buy” rating and a $48.00 price target for the company. UBS Group reissued a “buy” rating and issued a $44.00 price objective on shares of SLB in a research report on Tuesday, October 21st. Finally, Melius Research started coverage on shares of SLB in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, SLB currently has a consensus rating of “Moderate Buy” and an average price target of $51.28.

Insider Buying and Selling

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

SLB Price Performance

Shares of NYSE:SLB opened at $35.89 on Wednesday. The firm has a market capitalization of $53.62 billion, a PE ratio of 13.86, a PEG ratio of 10.19 and a beta of 0.97. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. SLB Limited has a 1-year low of $31.11 and a 1-year high of $44.66. The business’s 50 day moving average is $35.06 and its 200-day moving average is $34.87.

SLB (NYSE:SLB) last issued its earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.67 by $0.02. The firm had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.99 billion. SLB had a return on equity of 18.97% and a net margin of 10.34%.SLB’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business earned $0.89 earnings per share. Sell-side analysts predict that SLB Limited will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.2%. SLB’s payout ratio is presently 44.02%.

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.