First National Trust Co Cuts Holdings in SLB Limited $SLB

First National Trust Co decreased its stake in shares of SLB Limited (NYSE:SLB) by 4.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,852 shares of the oil and gas company’s stock after selling 937 shares during the quarter. First National Trust Co’s holdings in SLB were worth $705,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. First Command Advisory Services Inc. increased its holdings in SLB by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 477 shares during the period. Atlas Capital Advisors Inc. purchased a new stake in SLB during the 1st quarter worth about $33,000. Atticus Wealth Management LLC purchased a new stake in SLB during the 2nd quarter worth about $29,000. Park Square Financial Group LLC purchased a new stake in SLB during the 1st quarter worth about $38,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in SLB during the 1st quarter worth about $40,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SLB. Melius Research started coverage on SLB in a report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price target on the stock. Susquehanna dropped their price objective on SLB from $44.00 to $42.00 and set a “positive” rating on the stock in a report on Monday, July 21st. UBS Group reiterated a “buy” rating and issued a $44.00 price objective on shares of SLB in a report on Tuesday, October 21st. Piper Sandler set a $42.00 price objective on SLB and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, JPMorgan Chase & Co. dropped their price objective on SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, SLB presently has an average rating of “Moderate Buy” and a consensus target price of $51.69.

SLB Stock Down 0.8%

Shares of NYSE SLB opened at $35.86 on Wednesday. The stock has a market cap of $53.57 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 10.01 and a beta of 0.97. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. SLB Limited has a 52-week low of $31.11 and a 52-week high of $44.97. The business has a 50-day moving average price of $34.77 and a 200 day moving average price of $34.56.

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

SLB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be given a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. SLB’s dividend payout ratio is 44.02%.

Insider Activity

In related news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider directly owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This represents a 16.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by company insiders.

SLB 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.