Corient Private Wealth LLC Sells 467,379 Shares of SLB Limited $SLB

Corient Private Wealth LLC lowered its holdings in shares of SLB Limited (NYSE:SLB) by 28.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,171,231 shares of the oil and gas company’s stock after selling 467,379 shares during the quarter. Corient Private Wealth LLC owned approximately 0.08% of SLB worth $39,591,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SLB. Legacy Wealth Asset Management LLC raised its position in shares of SLB by 2.2% during the second quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock valued at $486,000 after buying an additional 308 shares during the last quarter. EntryPoint Capital LLC grew its stake in SLB by 4.5% during the first quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock valued at $307,000 after acquiring an additional 316 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in SLB by 6.3% in the 1st quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock valued at $236,000 after acquiring an additional 335 shares during the last quarter. NewSquare Capital LLC lifted 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 worth $34,000 after purchasing an additional 341 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of 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 valued at $33,000 after purchasing an additional 350 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of the 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter John Coleman sold 5,500 shares of SLB stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total transaction of $197,010.00. Following the transaction, the director directly owned 18,671 shares in the company, valued at approximately $668,795.22. The trade was a 22.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 103,947 shares of company stock valued at $3,871,337 over the last three months. 0.22% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SLB. Rothschild Redb upgraded SLB to a “strong-buy” rating in a research report on Monday, November 3rd. Barclays upped their price objective on SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Redburn Partners set a $48.00 target price on shares of SLB in a report on Monday, November 3rd. UBS Group boosted their price target on shares of SLB from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Piper Sandler set a $42.00 price objective on shares of SLB and gave the company an “overweight” rating in a research report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.32.

SLB Stock Performance

Shares of NYSE:SLB opened at $37.64 on Wednesday. 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 12 month low of $31.11 and a 12 month high of $44.66. The company has a market capitalization of $56.23 billion, a price-to-earnings ratio of 14.53 and a beta of 0.73. The firm’s 50-day moving average is $36.02 and its 200 day moving average is $35.21.

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

SLB Dividend Announcement

The company also recently disclosed 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. This represents a $1.14 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Wednesday, December 3rd. SLB’s payout ratio is presently 44.02%.

About SLB

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.