SLB Limited $SLB Shares Sold by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC trimmed its stake in SLB Limited (NYSE:SLB) by 4.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 274,555 shares of the oil and gas company’s stock after selling 11,379 shares during the quarter. Anchor Capital Advisors LLC’s holdings in SLB were worth $9,280,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SLB. Charles Schwab Investment Management Inc. grew its holdings in shares of SLB by 478.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock worth $1,994,674,000 after acquiring an additional 39,474,501 shares during the last quarter. Boston Partners grew its holdings in shares of SLB by 27.7% in the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock worth $824,160,000 after acquiring an additional 4,300,222 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of SLB by 211.1% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company’s stock valued at $250,507,000 after buying an additional 4,066,500 shares in the last quarter. Nuveen LLC purchased a new position in shares of SLB during the first quarter valued at $169,232,000. Finally, Banque Transatlantique SA grew its holdings in shares of SLB by 21,737.8% during the first quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company’s stock valued at $71,821,000 after buying an additional 1,850,760 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SLB

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the business’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 owned 202,201 shares of the company’s stock, valued at $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SLB shares. Stifel Nicolaus lowered their price target on SLB from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Piper Sandler set a $42.00 price target on SLB and gave the company an “overweight” rating in a report on Monday, October 20th. 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. Barclays lifted their price target on SLB from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Finally, Redburn Partners set a $48.00 price target on SLB in a report on Monday. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, SLB has a consensus rating of “Moderate Buy” and a consensus target price of $51.28.

SLB Stock Performance

Shares of NYSE SLB opened at $36.54 on Thursday. The business’s 50-day moving average price is $34.95 and its two-hundred day moving average price is $34.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. SLB Limited has a one year low of $31.11 and a one year high of $44.97. The company has a market capitalization of $54.59 billion, a P/E ratio of 14.11, a price-to-earnings-growth ratio of 10.19 and a beta of 0.97.

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

SLB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders 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 3.1%. SLB’s payout ratio is currently 44.02%.

About SLB

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.