Godsey & Gibb Inc. Sells 13,297 Shares of SLB Limited $SLB

Godsey & Gibb Inc. trimmed its holdings in SLB Limited (NYSE:SLB) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 527,785 shares of the oil and gas company’s stock after selling 13,297 shares during the period. SLB comprises about 2.0% of Godsey & Gibb Inc.’s investment portfolio, making the stock its 25th biggest position. Godsey & Gibb Inc.’s holdings in SLB were worth $24,537,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SLB. Norges Bank bought a new stake in SLB during the 4th quarter valued at approximately $809,557,000. Bank of New York Mellon Corp lifted its holdings in SLB by 56.8% in the 1st quarter. Bank of New York Mellon Corp now owns 24,615,243 shares of the oil and gas company’s stock worth $1,264,977,000 after purchasing an additional 8,918,412 shares in the last quarter. Wellington Management Group LLP boosted its stake in SLB by 50.6% in the 4th quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company’s stock worth $638,473,000 after purchasing an additional 5,589,585 shares during the period. State Street Corp boosted its stake in SLB by 7.0% in the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock worth $2,898,037,000 after purchasing an additional 5,466,786 shares during the period. Finally, Capital International Investors grew its holdings in SLB by 86.9% during the 4th quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock valued at $446,247,000 after buying an additional 5,404,948 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SLB shares. Raymond James Financial reduced their price objective on shares of SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. Sanford C. Bernstein upped their target price on shares of SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Piper Sandler raised their target price on shares of SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Stifel Nicolaus lifted their price target on shares of SLB from $61.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Finally, TD Cowen boosted their price target on shares of SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.35.

SLB Stock Performance

NYSE:SLB opened at $52.66 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05. 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 $49.67 and its two-hundred day simple moving average is $51.04. The company has a market cap of $78.15 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 3.54 and a beta of 0.73.

SLB (NYSE:SLB) last posted its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. SLB had a return on equity of 14.05% and a net margin of 8.53%.The firm had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same period in the prior year, the company earned $0.74 EPS. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, equities analysts anticipate that SLB Limited will post 2.5 earnings per share for the current fiscal year.

SLB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. SLB’s dividend payout ratio is presently 57.00%.

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.