Community Trust & Investment Co. Acquires 17,434 Shares of SLB Limited $SLB

Community Trust & Investment Co. increased its holdings in SLB Limited (NYSE:SLB) by 4.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 426,794 shares of the oil and gas company’s stock after purchasing an additional 17,434 shares during the period. Community Trust & Investment Co.’s holdings in SLB were worth $14,669,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SLB. Synergy Asset Management LLC increased its stake in SLB by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 80,830 shares of the oil and gas company’s stock worth $2,732,000 after buying an additional 40,415 shares during the period. Bank Pictet & Cie Europe AG grew its stake in SLB by 1,937.4% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company’s stock worth $34,265,000 after acquiring an additional 948,015 shares in the last quarter. Assetmark Inc. increased its position in shares of SLB by 19.5% during the second quarter. Assetmark Inc. now owns 56,561 shares of the oil and gas company’s stock worth $1,912,000 after acquiring an additional 9,210 shares during the period. Allen Wealth Management LLC purchased a new position in shares of SLB during the third quarter worth approximately $1,455,000. Finally, Shell Asset Management Co. raised its stake in shares of SLB by 48.1% during the second quarter. Shell Asset Management Co. now owns 62,737 shares of the oil and gas company’s stock valued at $2,121,000 after acquiring an additional 20,387 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SLB has been the topic of several research analyst reports. Piper Sandler increased their price objective on SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Redburn Partners set a $48.00 price target on SLB in a research note on Monday, November 3rd. Rothschild Redb upgraded SLB to a “strong-buy” rating in a report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of SLB from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.42.

SLB Price Performance

SLB opened at $43.78 on Tuesday. The firm has a market capitalization of $65.41 billion, a PE ratio of 16.91 and a beta of 0.72. 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 business’s 50-day moving average is $37.44 and its two-hundred day moving average is $35.59. SLB Limited has a 1 year low of $31.11 and a 1 year high of $45.16.

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 analysts’ expectations of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business earned $0.89 EPS. Research analysts anticipate that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Announces Dividend

The firm 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. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.6%. SLB’s dividend payout ratio is presently 44.02%.

Insider Transactions at SLB

In other news, Director Peter John Coleman sold 5,500 shares of the stock in a transaction 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 completion of the sale, the director owned 18,671 shares in the company, valued at approximately $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 accessible through this hyperlink. 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 value of $1,412,927.25. Following the transaction, the chief financial officer owned 175,690 shares in the company, valued at approximately $6,456,607.50. This trade represents a 17.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 103,947 shares of company stock valued at $3,871,337. Corporate insiders own 0.22% of the company’s stock.

About SLB

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.