Inspire Investing LLC Sells 20,762 Shares of SLB Limited $SLB

Inspire Investing LLC decreased its stake in shares of SLB Limited (NYSE:SLB) by 13.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 135,632 shares of the oil and gas company’s stock after selling 20,762 shares during the period. SLB accounts for about 0.6% of Inspire Investing LLC’s holdings, making the stock its 27th largest position. Inspire Investing LLC’s holdings in SLB were worth $6,970,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SLB. Simmons Bank boosted its position in SLB by 11.3% during the first quarter. Simmons Bank now owns 46,044 shares of the oil and gas company’s stock worth $2,366,000 after purchasing an additional 4,669 shares during the period. Apollon Wealth Management LLC boosted its holdings in shares of SLB by 25.0% during the 1st quarter. Apollon Wealth Management LLC now owns 30,425 shares of the oil and gas company’s stock worth $1,564,000 after buying an additional 6,087 shares during the period. Canoe Financial LP grew its stake in SLB by 272.7% in the 1st quarter. Canoe Financial LP now owns 4,241,622 shares of the oil and gas company’s stock valued at $220,401,000 after buying an additional 3,103,468 shares during the last quarter. Patton Fund Management Inc. bought a new position in SLB in the 1st quarter worth $271,000. Finally, Janney Montgomery Scott LLC lifted its position in SLB by 12.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 245,070 shares of the oil and gas company’s stock worth $12,594,000 after acquiring an additional 27,234 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Stock Performance

SLB opened at $46.41 on Tuesday. The stock has a market cap of $69.39 billion, a PE ratio of 20.27, a P/E/G ratio of 1.89 and a beta of 0.70. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. SLB Limited has a 1 year low of $31.64 and a 1 year high of $58.82. The stock’s 50 day simple moving average is $54.12 and its 200-day simple moving average is $49.51.

SLB (NYSE:SLB) last issued its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. The firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.SLB’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $0.72 earnings per share. Sell-side analysts forecast that SLB Limited will post 2.62 EPS for the current year.

SLB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be paid a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.5%. SLB’s payout ratio is presently 51.53%.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the transaction, the director directly owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the transaction, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SLB shares. Susquehanna raised their price target on SLB from $60.00 to $65.00 and gave the company a “positive” rating in a research report on Monday, April 27th. Citigroup lifted their price target on SLB from $59.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Wall Street Zen cut SLB from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Piper Sandler boosted their target price on shares of SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Finally, Morgan Stanley set a $57.00 target price on shares of SLB in a research note on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, SLB currently has an average rating of “Moderate Buy” and a consensus price target of $60.83.

SLB 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.