Cary Street Partners Financial LLC Has $3.66 Million Stake in SLB Limited $SLB

Cary Street Partners Financial LLC raised its stake in shares of SLB Limited (NYSE:SLB) by 22.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 108,315 shares of the oil and gas company’s stock after purchasing an additional 19,676 shares during the period. Cary Street Partners Financial LLC’s holdings in SLB were worth $3,661,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Twin Peaks Wealth Advisors LLC acquired a new position in shares of SLB in the second quarter worth approximately $25,000. Atticus Wealth Management LLC bought a new position in SLB during the 2nd quarter worth approximately $29,000. Atlas Capital Advisors Inc. bought a new stake in shares of SLB in the 1st quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of SLB by 55.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. Finally, NewSquare Capital LLC increased its position in shares of SLB by 51.4% during the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock worth $34,000 after buying an additional 341 shares during the period. Institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

Shares of SLB stock opened at $38.50 on Monday. The business has a 50-day simple moving average of $35.41 and a 200 day simple moving average of $34.95. SLB Limited has a one year low of $31.11 and a one year high of $44.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. The firm has a market capitalization of $57.52 billion, a price-to-earnings ratio of 14.86 and a beta of 0.73.

SLB (NYSE:SLB) last announced its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. The business had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. SLB had a return on equity of 18.97% and a net margin of 10.34%.The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 earnings per share. On average, research analysts anticipate that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be given a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a yield of 3.0%. SLB’s dividend payout ratio (DPR) is presently 44.02%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Redburn Partners set a $48.00 price target on shares of SLB in a research report on Monday, November 3rd. Melius began coverage on SLB in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective on the stock. UBS Group restated a “buy” rating and set a $44.00 target price on shares of SLB in a research report on Tuesday, October 21st. Melius Research initiated coverage on SLB in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price for the company. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.28.

Insider Buying and Selling at SLB

In other news, EVP Abdellah Merad sold 60,000 shares of the business’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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dianne B. Ralston sold 39,727 shares of the company’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 completion of the sale, the insider owned 202,201 shares in the company, valued at $7,295,412.08. This represents a 16.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 143,674 shares of company stock worth $5,304,687. Company insiders own 0.22% of the company’s stock.

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.