20,948 Shares in SLB Limited $SLB Purchased by Davis Capital Management

Davis Capital Management acquired a new stake in shares of SLB Limited (NYSE:SLB) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 20,948 shares of the oil and gas company’s stock, valued at approximately $720,000.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of SLB by 14.2% in the 2nd quarter. Vanguard Group Inc. now owns 150,317,566 shares of the oil and gas company’s stock valued at $5,080,734,000 after acquiring an additional 18,672,021 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of SLB by 30.4% in the second quarter. Franklin Resources Inc. now owns 20,233,749 shares of the oil and gas company’s stock valued at $683,901,000 after purchasing an additional 4,719,852 shares in the last quarter. Norges Bank acquired a new stake in shares of SLB in the second quarter worth $618,697,000. Amundi grew its holdings in shares of SLB by 29.9% during the second quarter. Amundi now owns 11,415,740 shares of the oil and gas company’s stock valued at $409,939,000 after buying an additional 2,624,679 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of SLB by 1.2% during the second quarter. Legal & General Group Plc now owns 9,681,754 shares of the oil and gas company’s stock valued at $327,243,000 after buying an additional 114,190 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SLB has been the subject of a number of research reports. Sanford C. Bernstein raised their price objective on SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. Rothschild Redb raised shares of SLB to a “strong-buy” rating in a research report on Monday, November 3rd. Barclays lowered their price objective on shares of SLB from $48.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Piper Sandler upped their price objective on shares of SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Finally, JPMorgan Chase & Co. cut 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. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.42.

SLB Price Performance

NYSE SLB opened at $40.19 on Friday. 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 stock has a market capitalization of $60.04 billion, a PE ratio of 15.52 and a beta of 0.72. SLB Limited has a 12-month low of $31.11 and a 12-month high of $44.66. The company has a 50 day moving average price of $37.28 and a two-hundred day moving average price of $35.54.

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

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, December 3rd. SLB’s dividend payout ratio is 44.02%.

Insider Activity

In other SLB news, Director Peter John Coleman sold 5,500 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $35.82, for a total transaction of $197,010.00. Following the transaction, the director owned 18,671 shares in the company, valued at $668,795.22. This trade represents a 22.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Stephane Biguet sold 38,447 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $36.75, for a total transaction of $1,412,927.25. Following the completion of the sale, the chief financial officer owned 175,690 shares of the company’s stock, valued at $6,456,607.50. The trade was a 17.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 103,947 shares of company stock valued at $3,871,337. Insiders own 0.22% of the company’s stock.

SLB Profile

SLB (NYSE: SLB), historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB’s product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.