SLB (NYSE:SLB) Insider Dianne Ralston Sells 20,986 Shares of Company Stock

SLB Limited (NYSE:SLB) insider Dianne Ralston sold 20,986 shares of the business’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $53.57, for a total transaction of $1,124,220.02. Following the completion of the sale, the insider directly owned 205,053 shares of the company’s stock, valued at approximately $10,984,689.21. This trade represents a 9.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

SLB Stock Performance

Shares of SLB stock opened at $53.78 on Friday. The stock’s 50-day moving average is $52.50 and its two-hundred day moving average is $51.37. The firm has a market cap of $79.38 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 2.99 and a beta of 0.83. SLB Limited has a 1 year low of $34.65 and a 1 year high of $60.46. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.39.

SLB (NYSE:SLB) last posted its earnings results on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $9.45 billion during the quarter, compared to the consensus estimate of $9.27 billion. SLB had a return on equity of 13.77% and a net margin of 8.40%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 EPS. Analysts predict that SLB Limited will post 2.46 earnings per share for the current year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Wednesday, December 2nd will be issued a $0.2950 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, December 2nd. SLB’s dividend payout ratio is presently 57.28%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SLB shares. Citigroup decreased their price target on SLB from $63.00 to $62.00 and set a “buy” rating for the company in a report on Monday, October 19th. Capital One Financial dropped their price objective on SLB from $64.00 to $63.00 and set an “overweight” rating for the company in a research note on Tuesday, August 18th. Piper Sandler upped their target price on SLB from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Monday. Rothschild & Co Redburn raised their price objective on shares of SLB from $66.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, September 25th. Finally, Raymond James Financial reduced their target price on shares of SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. Twenty-four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.52.

Institutional Investors Weigh In On SLB

Institutional investors have recently bought and sold shares of the business. Evergreen Advisors LLC acquired a new stake in shares of SLB during the 1st quarter valued at $26,000. Costello Asset Management INC raised its holdings in shares of SLB by 93.3% during the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 280 shares in the last quarter. Arlington Trust Co LLC raised its holdings in shares of SLB by 66.5% during the second quarter. Arlington Trust Co LLC now owns 701 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 280 shares in the last quarter. Signature Equity Partners LLC raised its holdings in shares of SLB by 42.5% during the third quarter. Signature Equity Partners LLC now owns 751 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 224 shares in the last quarter. Finally, Maryland Capital Advisors Inc. acquired a new stake in SLB during the second quarter valued at $35,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Company Profile

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.