SVB Wealth LLC Reduces Holdings in SLB Limited $SLB

SVB Wealth LLC lessened its position in shares of SLB Limited (NYSE:SLB) by 24.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 46,391 shares of the oil and gas company’s stock after selling 15,112 shares during the quarter. SVB Wealth LLC’s holdings in SLB were worth $1,594,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SLB. Howard Capital Management Inc. lifted its stake in shares of SLB by 3.2% in the 3rd quarter. Howard Capital Management Inc. now owns 9,165 shares of the oil and gas company’s stock valued at $315,000 after purchasing an additional 288 shares during the last quarter. Fielder Capital Group LLC raised its holdings in SLB by 2.5% in the 3rd quarter. Fielder Capital Group LLC now owns 12,137 shares of the oil and gas company’s stock valued at $417,000 after buying an additional 293 shares during the period. Hedges Asset Management LLC raised its holdings in SLB by 0.9% in the 3rd quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock valued at $1,203,000 after buying an additional 300 shares during the period. Gables Capital Management Inc. boosted its stake in SLB by 31.6% during the third quarter. Gables Capital Management Inc. now owns 1,250 shares of the oil and gas company’s stock worth $43,000 after buying an additional 300 shares during the period. Finally, Legacy Wealth Asset Management LLC increased its position in shares of SLB by 2.2% during the second quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock valued at $486,000 after acquiring an additional 308 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SLB has been the topic of several recent analyst reports. Citigroup upped their price objective on shares of SLB from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, January 26th. JPMorgan Chase & Co. upped their price target on SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Stifel Nicolaus set a $56.00 price target on SLB in a research report on Monday, January 26th. Piper Sandler boosted their price objective on SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Finally, Argus raised SLB to a “strong-buy” rating in a research note on Monday, January 26th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.38.

Insider Activity

In related news, CAO Howard Guild sold 13,268 shares of the business’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 $659,419.60. Following the transaction, the chief accounting officer owned 22,407 shares in the company, valued at $1,113,627.90. The trade was a 37.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $2,982,000.00. Following the sale, the executive vice president owned 140,602 shares of the company’s stock, valued at $6,987,919.40. This trade represents a 29.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 200,849 shares of company stock valued at $9,406,603. Insiders own 0.22% of the company’s stock.

SLB Stock Performance

NYSE:SLB opened at $50.31 on Wednesday. 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 12 month low of $31.11 and a 12 month high of $51.67. The business’s fifty day moving average price is $43.44 and its 200 day moving average price is $37.94. The firm has a market capitalization of $75.23 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 3.44 and a beta of 0.73.

SLB (NYSE:SLB) last issued its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04. The business had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.54 billion. SLB had a net margin of 9.45% and a return on equity of 17.45%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 EPS. 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 declared 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 is a positive change from SLB’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, February 11th. This represents a $1.18 annualized dividend and a yield of 2.3%. SLB’s payout ratio is currently 48.10%.

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.