Florida Trust Wealth Management Co Reduces Position in SLB Limited $SLB

Florida Trust Wealth Management Co trimmed its stake in SLB Limited (NYSE:SLB) by 19.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,960 shares of the oil and gas company’s stock after selling 16,017 shares during the quarter. Florida Trust Wealth Management Co’s holdings in SLB were worth $2,570,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Synergy Asset Management LLC grew its holdings in shares of SLB by 100.0% during the third quarter. Synergy Asset Management LLC now owns 80,830 shares of the oil and gas company’s stock worth $2,732,000 after buying an additional 40,415 shares in the last quarter. Americana Partners LLC lifted its stake in shares of SLB by 10.1% during the third quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company’s stock valued at $8,526,000 after buying an additional 22,706 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in SLB by 13.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 210,056 shares of the oil and gas company’s stock worth $7,220,000 after acquiring an additional 25,417 shares during the last quarter. Nordea Investment Management AB boosted its position in SLB by 4.9% during the third quarter. Nordea Investment Management AB now owns 2,157,885 shares of the oil and gas company’s stock worth $72,354,000 after acquiring an additional 100,918 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG grew its stake in SLB by 1,937.4% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company’s stock worth $34,265,000 after acquiring an additional 948,015 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Stock Down 0.0%

Shares of NYSE SLB opened at $49.44 on Monday. The stock has a market capitalization of $74.28 billion, a PE ratio of 20.86, a P/E/G ratio of 3.52 and a beta of 0.69. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average of $49.51 and a 200-day moving average of $41.90. SLB Limited has a 52-week low of $31.11 and a 52-week high of $54.80.

SLB (NYSE:SLB) last issued its 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 business had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.54 billion. During the same period last year, the company posted $0.92 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. On average, analysts anticipate that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th were paid a $0.295 dividend. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $1.18 annualized dividend and a dividend yield of 2.4%. This is an increase from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio is presently 49.79%.

Analyst Ratings Changes

SLB has been the topic of a number of recent analyst reports. Piper Sandler increased their price target on SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Loop Capital set a $48.00 price objective on SLB in a research report on Tuesday, January 27th. Wall Street Zen lowered SLB from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Stifel Nicolaus set a $56.00 price target on SLB in a research note on Monday, January 26th. Finally, Argus upgraded SLB to a “strong-buy” rating in a report on Monday, January 26th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.16.

Insiders Place Their Bets

In other news, Director La Chevardiere Patrick De sold 4,000 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $50.29, for a total transaction of $201,160.00. Following the completion of the sale, the director owned 19,525 shares in the company, valued at approximately $981,912.25. The trade was 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 this link. Also, CFO Stephane Biguet sold 61,017 shares of the stock in a transaction that occurred on 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 approximately $7,730,735.60. This trade represents a 28.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 156,902 shares of company stock worth $7,796,666. 0.16% of the stock is owned by insiders.

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.