Russell Investments Group Ltd. Sells 839,562 Shares of SLB Limited $SLB

Russell Investments Group Ltd. decreased its holdings in SLB Limited (NYSE:SLB) by 43.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,079,414 shares of the oil and gas company’s stock after selling 839,562 shares during the period. Russell Investments Group Ltd.’s holdings in SLB were worth $37,154,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at SLB

In other news, CAO Howard Guild sold 13,268 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $659,419.60. Following the completion of the sale, the chief accounting officer owned 22,407 shares in the company, valued at approximately $1,113,627.90. This represents a 37.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Dianne B. Ralston sold 18,617 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.50, for a total value of $921,541.50. Following the completion of the sale, the insider directly owned 224,097 shares of the company’s stock, valued at $11,092,801.50. The trade was a 7.67% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 156,902 shares of company stock valued at $7,796,666. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on SLB shares. The Goldman Sachs Group raised their price objective on SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Bank of America upped their target price on SLB from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, January 26th. TD Cowen raised their price target on SLB from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Stifel Nicolaus set a $56.00 price objective on SLB in a report on Monday, January 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.96.

SLB Stock Performance

SLB stock opened at $48.16 on Thursday. SLB Limited has a one year low of $31.11 and a one year high of $52.45. The firm has a market cap of $72.36 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 3.27 and a beta of 0.68. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33. The firm has a 50-day simple moving average of $48.30 and a two-hundred day simple moving average of $40.31.

SLB (NYSE:SLB) last issued its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.54 billion. SLB had a net margin of 9.45% and a return on equity of 17.45%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 EPS. On average, equities analysts forecast that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be issued a $0.295 dividend. This is an increase from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, February 11th. SLB’s dividend payout ratio is presently 49.79%.

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.