Birmingham Capital Management Co. Inc. AL Has $1.09 Million Stake in SLB Limited $SLB

Birmingham Capital Management Co. Inc. AL cut its holdings in shares of SLB Limited (NYSE:SLB) by 12.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,300 shares of the oil and gas company’s stock after selling 4,725 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in SLB were worth $1,092,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SLB. Brighton Jones LLC increased its holdings in shares of SLB by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 1,166 shares during the last quarter. Bison Wealth LLC bought a new stake in shares of SLB during the 4th quarter worth about $238,000. GAMMA Investing LLC grew its stake in SLB by 45.5% in the 1st quarter. GAMMA Investing LLC now owns 21,671 shares of the oil and gas company’s stock valued at $906,000 after buying an additional 6,778 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in SLB by 14.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 169,944 shares of the oil and gas company’s stock valued at $7,104,000 after buying an additional 21,680 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in SLB by 8.9% in the 1st quarter. Blue Trust Inc. now owns 13,828 shares of the oil and gas company’s stock valued at $578,000 after acquiring an additional 1,125 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Activity at SLB

In other news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SLB. Susquehanna reduced their price objective on SLB from $44.00 to $42.00 and set a “positive” rating for the company in a report on Monday, July 21st. Atb Cap Markets raised SLB from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. Zacks Research upgraded SLB from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Piper Sandler decreased their price objective on SLB from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Jefferies Financial Group lowered their price objective on SLB from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, SLB currently has an average rating of “Moderate Buy” and a consensus target price of $52.00.

SLB Price Performance

SLB stock opened at $32.58 on Monday. The firm has a market cap of $48.66 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 9.13 and a beta of 0.97. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. The stock’s fifty day moving average price is $34.49 and its two-hundred day moving average price is $34.50. SLB Limited has a one year low of $31.11 and a one year high of $44.97.

SLB (NYSE:SLB) last released its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The company had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. During the same period in the prior year, the firm posted $0.89 EPS. SLB’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, research analysts expect that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be given a $0.285 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.5%. SLB’s payout ratio is presently 44.02%.

SLB Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.