Twin Capital Management Inc. Sells 38,506 Shares of SLB Limited $SLB

Twin Capital Management Inc. trimmed its stake in shares of SLB Limited (NYSE:SLB) by 70.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,493 shares of the oil and gas company’s stock after selling 38,506 shares during the period. Twin Capital Management Inc.’s holdings in SLB were worth $567,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of SLB in the second quarter worth about $25,000. Root Financial Partners LLC bought a new stake in SLB in the 3rd quarter worth approximately $29,000. Corsicana & Co. purchased a new stake in shares of SLB during the 3rd quarter worth approximately $31,000. Strengthening Families & Communities LLC bought a new position in shares of SLB during the 3rd quarter valued at approximately $31,000. Finally, NewSquare Capital LLC grew its holdings in shares of SLB by 51.4% in 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 in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity

In other news, insider Dianne B. Ralston sold 18,617 shares of the company’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $49.50, for a total value of $921,541.50. Following the transaction, the insider directly owned 224,097 shares in the company, valued at approximately $11,092,801.50. This represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Stephane Biguet sold 61,017 shares of SLB stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $3,032,544.90. Following the sale, the chief financial officer owned 155,548 shares of the company’s stock, valued at $7,730,735.60. The trade was a 28.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 260,849 shares of company stock valued at $11,668,003. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

SLB has been the topic of a number of recent research reports. BMO Capital Markets upped their price target on shares of SLB from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. 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. Piper Sandler increased their price target on shares of SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Citigroup boosted their price objective on SLB from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, Royal Bank Of Canada upped their price objective on SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.38.

SLB Stock Performance

SLB stock opened at $50.74 on Monday. 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 firm has a market capitalization of $75.87 billion, a P/E ratio of 21.41, a price-to-earnings-growth ratio of 3.45 and a beta of 0.72. SLB Limited has a 1-year low of $31.11 and a 1-year high of $51.67. The company’s 50-day moving average is $42.88 and its 200 day moving average is $37.72.

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 analysts’ consensus estimates 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 prior year, the firm posted $0.92 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. Research analysts forecast that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 2.3%. This is a positive change from SLB’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, February 11th. SLB’s dividend payout ratio is 48.10%.

SLB Company 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.