Clearstead Advisors LLC Sells 133,864 Shares of SLB Limited $SLB

Clearstead Advisors LLC decreased its holdings in shares of SLB Limited (NYSE:SLB) by 84.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 24,583 shares of the oil and gas company’s stock after selling 133,864 shares during the period. Clearstead Advisors LLC’s holdings in SLB were worth $845,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Twin Peaks Wealth Advisors LLC bought a new stake in SLB in the second quarter valued at about $25,000. Root Financial Partners LLC bought a new stake in shares of SLB in the 3rd quarter valued at about $29,000. Corsicana & Co. acquired a new stake in shares of SLB in the 3rd quarter valued at approximately $31,000. Strengthening Families & Communities LLC bought a new position in SLB during the 3rd quarter worth approximately $31,000. Finally, NewSquare Capital LLC grew its holdings in SLB by 51.4% during the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 341 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Stephane Biguet sold 61,017 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $3,032,544.90. Following the completion of the transaction, the chief financial officer owned 155,548 shares in the company, valued at $7,730,735.60. This trade represents a 28.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director La Chevardiere Patrick De sold 4,000 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $50.29, for a total value of $201,160.00. Following the sale, the director owned 19,525 shares in the company, valued at $981,912.25. The trade was a 17.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 156,902 shares of company stock valued at $7,796,666 in the last quarter. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Evercore set a $54.00 target price on shares of SLB and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Rothschild & Co Redburn set a $48.00 price objective on SLB in a research note on Monday, November 3rd. The Goldman Sachs Group reissued a “buy” rating and issued a $49.00 target price on shares of SLB in a research note on Wednesday, January 14th. Freedom Capital downgraded SLB from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Finally, Citigroup lifted their price objective on SLB from $53.00 to $56.00 and gave the company a “buy” rating in a report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $52.38.

SLB Stock Down 0.3%

SLB stock opened at $51.68 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98. The stock has a market capitalization of $77.28 billion, a P/E ratio of 21.81, a P/E/G ratio of 3.53 and a beta of 0.73. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $52.40. The business has a 50-day moving average of $46.17 and a 200-day moving average of $39.24.

SLB (NYSE:SLB) last released its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The firm had revenue of $9.75 billion for the quarter, compared to analysts’ expectations of $9.54 billion. During the same quarter in the previous year, the business posted $0.92 EPS. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts anticipate that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be issued a dividend of $0.295 per share. The ex-dividend date is Wednesday, February 11th. This is a positive change from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 2.3%. SLB’s dividend payout ratio is currently 49.79%.

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.