Community Trust & Investment Co. Sells 93,822 Shares of SLB Limited $SLB

Community Trust & Investment Co. lessened its holdings in SLB Limited (NYSE:SLB) by 22.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 332,972 shares of the oil and gas company’s stock after selling 93,822 shares during the period. Community Trust & Investment Co.’s holdings in SLB were worth $12,779,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in SLB by 23.3% in the 3rd quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock worth $6,371,335,000 after acquiring an additional 35,057,313 shares during the last quarter. State Street Corp boosted its position in shares of SLB by 7.0% during the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock valued at $2,898,037,000 after acquiring an additional 5,466,786 shares during the last quarter. Norges Bank purchased a new position in shares of SLB during the second quarter worth about $618,697,000. Dimensional Fund Advisors LP grew its holdings in shares of SLB by 25.2% during the third quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company’s stock worth $528,217,000 after purchasing an additional 3,094,764 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of SLB by 10.7% in the third quarter. Northern Trust Corp now owns 15,359,990 shares of the oil and gas company’s stock worth $527,923,000 after purchasing an additional 1,490,859 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Stock Up 5.5%

Shares of SLB opened at $49.20 on Tuesday. The firm has a market cap of $73.93 billion, a P/E ratio of 20.76, a P/E/G ratio of 3.32 and a beta of 0.68. The stock has a 50 day simple moving average of $48.82 and a two-hundred day simple moving average of $40.91. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98. SLB Limited has a 1 year low of $31.11 and a 1 year high of $52.45.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. The firm had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.54 billion. SLB had a net margin of 9.45% and a return on equity of 17.45%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. On average, analysts forecast 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 given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, February 11th. This is a boost from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio is 49.79%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Evercore set a $54.00 target price on shares of SLB and gave the company an “outperform” rating in a research note on Tuesday, January 6th. JPMorgan Chase & Co. boosted their price target on shares of SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. UBS Group restated a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. Piper Sandler lifted their price objective on shares of SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Finally, Argus upgraded shares of SLB to a “strong-buy” rating in a research report on Monday, January 26th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given 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 presently has an average rating of “Moderate Buy” and an average target price of $53.16.

Insider Buying and Selling

In other news, insider Dianne B. Ralston sold 18,617 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.50, for a total transaction of $921,541.50. Following the transaction, the insider directly owned 224,097 shares of the company’s stock, valued at approximately $11,092,801.50. This trade represents a 7.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director La Chevardiere Patrick De sold 4,000 shares of SLB 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 completion of the transaction, the director owned 19,525 shares in the company, valued at approximately $981,912.25. This represents 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 worth $7,796,666 over the last 90 days. Insiders own 0.16% 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.