Hershey Financial Advisers LLC Takes $1.29 Million Position in SLB Limited $SLB

Hershey Financial Advisers LLC purchased a new position in SLB Limited (NYSE:SLB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 38,294 shares of the oil and gas company’s stock, valued at approximately $1,294,000.

Several other institutional investors also recently bought and sold shares of the business. Caxton Associates LLP acquired a new position in shares of SLB during the 2nd quarter worth approximately $1,490,000. CYBER HORNET ETFs LLC purchased a new stake in SLB in the 2nd quarter worth $126,000. Rexford Capital Inc. acquired a new position in SLB during the second quarter worth $203,000. Mcintyre Freedman & Flynn Investment Advisers Inc. lifted its holdings in SLB by 7.0% during the second quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 63,968 shares of the oil and gas company’s stock valued at $2,162,000 after purchasing an additional 4,203 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its holdings in SLB by 10.6% during the second quarter. Evergreen Capital Management LLC now owns 99,682 shares of the oil and gas company’s stock valued at $3,378,000 after purchasing an additional 9,561 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SLB

In other news, Director Peter John Coleman sold 5,500 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $35.82, for a total value of $197,010.00. Following the transaction, the director owned 18,671 shares of the company’s stock, valued at $668,795.22. This represents a 22.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total value of $2,261,400.00. Following the transaction, the executive vice president owned 159,371 shares of the company’s stock, valued at approximately $6,006,692.99. This represents a 27.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 103,947 shares of company stock worth $3,871,337. Insiders own 0.22% of the company’s stock.

SLB Stock Down 2.2%

NYSE SLB opened at $39.44 on Friday. The business’s fifty day simple moving average is $35.87 and its 200-day simple moving average is $35.13. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. The firm has a market cap of $58.92 billion, a PE ratio of 15.23 and a beta of 0.73. SLB Limited has a 52 week low of $31.11 and a 52 week high of $44.66.

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 firm had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.99 billion. During the same quarter in the prior year, the firm posted $0.89 earnings per share. SLB’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities analysts anticipate that SLB Limited will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders 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 2.9%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s payout ratio is presently 44.02%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SLB. Piper Sandler set a $42.00 target price on shares of SLB and gave the stock an “overweight” rating in a research note on Monday, October 20th. UBS Group boosted their price objective on SLB from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday. Melius Research started coverage on SLB in a report on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price for the company. Rothschild & Co Redburn began coverage on SLB in a research note on Monday, November 3rd. They issued a “buy” rating and a $48.00 price target on the stock. Finally, Sanford C. Bernstein boosted their price target on SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, SLB presently has an average rating of “Moderate Buy” and a consensus target price of $52.32.

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.