Capital International Inc. CA Has $5.88 Million Stock Position in SLB Limited $SLB

Capital International Inc. CA lessened its holdings in shares of SLB Limited (NYSE:SLB) by 12.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 171,078 shares of the oil and gas company’s stock after selling 25,152 shares during the quarter. Capital International Inc. CA’s holdings in SLB were worth $5,880,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC bought a new stake in shares of SLB in the second quarter worth about $25,000. Root Financial Partners LLC bought a new position in shares of SLB during the 3rd quarter valued at about $29,000. Corsicana & Co. acquired a new position in shares of SLB in the 3rd quarter valued at approximately $31,000. Strengthening Families & Communities LLC acquired a new position in shares of SLB in the 3rd quarter valued at approximately $31,000. Finally, SouthState Bank Corp increased its stake in SLB by 57.4% during the 3rd quarter. SouthState Bank Corp now owns 1,212 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 442 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

SLB Stock Performance

SLB opened at $48.16 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33. The business’s 50-day simple moving average is $48.30 and its 200 day simple moving average is $40.31. The firm has a market capitalization of $72.36 billion, a PE ratio of 20.32, a PEG ratio of 3.27 and a beta of 0.68. SLB Limited has a 52-week low of $31.11 and a 52-week 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 earnings per share for the quarter, topping 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 analyst estimates of $9.54 billion. During the same quarter in the previous year, the firm earned $0.92 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts expect that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Increases Dividend

The company 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 dividend on an annualized basis and a yield of 2.5%. SLB’s dividend payout ratio is presently 49.79%.

Insider Transactions at SLB

In other news, Director La Chevardiere Patrick De sold 4,000 shares of the company’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $50.29, for a total value of $201,160.00. Following the sale, the director directly owned 19,525 shares of the company’s stock, valued at approximately $981,912.25. This represents a 17.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Howard Guild sold 13,268 shares of SLB 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 of the company’s stock, valued at $1,113,627.90. The trade was a 37.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 156,902 shares of company stock valued at $7,796,666. 0.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on SLB. The Goldman Sachs Group raised their target price on shares of SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Loop Capital set a $48.00 price objective on shares of SLB in a research report on Tuesday, January 27th. Jefferies Financial Group raised their price objective on shares of SLB from $51.00 to $58.00 and gave the stock a “buy” rating in a report on Sunday, February 1st. UBS Group reaffirmed a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. Finally, Piper Sandler upped their target price on shares of SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Three 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 issued a Sell rating to the company. According to MarketBeat, SLB has a consensus rating of “Moderate Buy” and an average target price of $52.96.

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.