CWA Asset Management Group LLC Has $6.34 Million Position in SLB Limited $SLB

CWA Asset Management Group LLC cut its stake in SLB Limited (NYSE:SLB) by 7.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,145 shares of the oil and gas company’s stock after selling 13,360 shares during the period. CWA Asset Management Group LLC’s holdings in SLB were worth $6,338,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of SLB during the 2nd quarter worth $25,000. Root Financial Partners LLC acquired a new position in SLB in the third quarter valued at about $29,000. Corsicana & Co. bought a new stake in SLB during the third quarter worth about $31,000. Strengthening Families & Communities LLC acquired a new stake in SLB during the third quarter worth about $31,000. Finally, SouthState Bank Corp grew its stake in SLB by 57.4% during the third quarter. SouthState Bank Corp now owns 1,212 shares of the oil and gas company’s stock worth $42,000 after buying an additional 442 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other SLB news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $2,982,000.00. Following the completion of the transaction, the executive vice president owned 140,602 shares of the company’s stock, valued at $6,987,919.40. This represents a 29.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephane Biguet sold 61,017 shares of the stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $3,032,544.90. Following the completion of the transaction, the chief financial officer owned 155,548 shares of the company’s stock, valued at $7,730,735.60. This represents a 28.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 156,902 shares of company stock worth $7,796,666 in the last ninety days. Insiders own 0.16% of the company’s stock.

SLB Trading Down 2.5%

SLB opened at $46.61 on Friday. The company has a market cap of $70.03 billion, a P/E ratio of 19.67, a PEG ratio of 3.40 and a beta of 0.68. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $48.74 and its 200-day moving average is $40.75. SLB Limited has a 1-year low of $31.11 and a 1-year high of $52.45.

SLB (NYSE:SLB) last released 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 business had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.54 billion. SLB had a net margin of 9.45% and a return on equity of 17.45%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.92 EPS. Equities research analysts predict that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. This is a boost from SLB’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, February 11th. SLB’s dividend payout ratio (DPR) is currently 49.79%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of SLB from $51.00 to $58.00 and gave the company a “buy” rating in a research report on Sunday, February 1st. TD Cowen lifted their price objective on shares of SLB from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. boosted their price objective on shares of SLB from $43.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Morgan Stanley restated an “overweight” rating and set a $50.00 target price on shares of SLB in a research note on Wednesday, January 21st. Finally, Freedom Capital downgraded SLB from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Three 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 given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.16.

About SLB

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.