BNP Paribas Has $1.11 Million Holdings in SLB Limited $SLB

BNP Paribas cut its holdings in SLB Limited (NYSE:SLB) by 77.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,245 shares of the oil and gas company’s stock after selling 108,633 shares during the period. BNP Paribas’ holdings in SLB were worth $1,109,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at SLB

In related news, CFO Stephane Biguet sold 61,017 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 transaction of $3,032,544.90. Following the sale, the chief financial officer directly owned 155,548 shares of the company’s stock, valued at $7,730,735.60. This trade represents a 28.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dianne B. Ralston sold 18,617 shares of the business’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 owned 224,097 shares in the company, valued at $11,092,801.50. This represents a 7.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 156,902 shares of company stock valued at $7,796,666 over the last quarter. Company insiders own 0.16% of the company’s stock.

SLB Stock Up 0.4%

SLB opened at $44.72 on Monday. SLB Limited has a 1-year low of $31.11 and a 1-year high of $52.45. The business has a 50 day moving average of $48.52 and a 200-day moving average of $40.47. The stock has a market capitalization of $67.19 billion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 3.12 and a beta of 0.68. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36.

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 net margin of 9.45% and a return on equity of 17.45%. The firm had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.54 billion. During the same period in the prior year, the company earned $0.92 EPS. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be paid a $0.295 dividend. The ex-dividend date is Wednesday, February 11th. This is a boost from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 2.6%. SLB’s dividend payout ratio is 49.79%.

Analyst Ratings Changes

SLB has been the subject of several analyst reports. Sanford C. Bernstein boosted their target price on SLB from $52.30 to $56.10 and gave the stock an “outperform” rating in a report on Thursday. Morgan Stanley reiterated an “overweight” rating and set a $50.00 price target on shares of SLB in a report on Wednesday, January 21st. UBS Group reissued a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. BMO Capital Markets boosted their price objective on shares of SLB from $53.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Finally, Piper Sandler upped 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. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.16.

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.