Park Avenue Securities LLC Has $1.17 Million Stock Holdings in SLB Limited $SLB

Park Avenue Securities LLC decreased its position in SLB Limited (NYSE:SLBFree Report) by 43.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 30,355 shares of the oil and gas company’s stock after selling 23,556 shares during the period. Park Avenue Securities LLC’s holdings in SLB were worth $1,165,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC raised 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 acquired a new position in SLB during the fourth quarter worth $238,000. Global Retirement Partners LLC acquired a new position in SLB during the second quarter worth $245,000. Insigneo Advisory Services LLC grew its position in SLB by 16.6% in the second quarter. Insigneo Advisory Services LLC now owns 15,436 shares of the oil and gas company’s stock valued at $522,000 after purchasing an additional 2,201 shares in the last quarter. Finally, Laurel Wealth Advisors LLC grew its position in SLB by 3,911.7% in the second quarter. Laurel Wealth Advisors LLC now owns 214,664 shares of the oil and gas company’s stock valued at $7,256,000 after purchasing an additional 209,313 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Key Headlines Impacting SLB

Here are the key news stories impacting SLB this week:

SLB Stock Performance

Shares of SLB stock opened at $51.87 on Thursday. The company has a fifty day moving average price of $49.02 and a two-hundred day moving average price of $41.09. SLB Limited has a one year low of $31.11 and a one year high of $52.55. The stock has a market cap of $77.94 billion, a P/E ratio of 21.89, a P/E/G ratio of 3.59 and a beta of 0.68. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98.

SLB (NYSE:SLBGet Free Report) last issued its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. SLB had a net margin of 9.45% and a return on equity of 17.45%. The company had revenue of $9.75 billion for the quarter, compared to analysts’ expectations of $9.54 billion. During the same period in the prior year, the firm earned $0.92 EPS. SLB’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, equities analysts predict that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be paid a $0.295 dividend. This is a positive change from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 2.3%. The ex-dividend date is Wednesday, February 11th. SLB’s dividend payout ratio is currently 49.79%.

Analysts Set New Price Targets

Several brokerages have commented on SLB. Morgan Stanley reissued an “overweight” rating and set a $50.00 price target on shares of SLB in a research report on Wednesday, January 21st. JPMorgan Chase & Co. raised their price objective on SLB from $43.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Citigroup lifted their target price on SLB from $53.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Piper Sandler upped their target price on SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Finally, UBS Group reissued a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. Three research 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. According to MarketBeat, SLB currently has an average rating of “Moderate Buy” and an average target price of $53.16.

Read Our Latest Analysis on SLB

Insider Buying and Selling

In related news, CFO Stephane Biguet sold 61,017 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 value of $3,032,544.90. Following the sale, the chief financial officer owned 155,548 shares in the company, valued at approximately $7,730,735.60. This represents a 28.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dianne B. Ralston sold 18,617 shares of the firm’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $49.50, for a total value of $921,541.50. Following the sale, the insider directly owned 224,097 shares of the company’s stock, valued at $11,092,801.50. This represents a 7.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 156,902 shares of company stock valued at $7,796,666. Insiders own 0.16% of the company’s stock.

SLB Profile

(Free Report)

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.

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Institutional Ownership by Quarter for SLB (NYSE:SLB)

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