Capital World Investors Sells 2,810,828 Shares of SLB Limited $SLB

Capital World Investors lessened its position in shares of SLB Limited (NYSE:SLB) by 9.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,487,655 shares of the oil and gas company’s stock after selling 2,810,828 shares during the quarter. Capital World Investors owned approximately 1.71% of SLB worth $876,075,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC bought a new stake in SLB in the second quarter valued at $25,000. Root Financial Partners LLC bought a new position in shares of SLB during the third quarter valued at $29,000. Corsicana & Co. acquired a new stake in shares of SLB in the 3rd quarter valued at $31,000. Strengthening Families & Communities LLC bought a new stake in shares of SLB in the 3rd quarter worth about $31,000. Finally, SouthState Bank Corp increased its position in shares of SLB by 57.4% during the 3rd quarter. SouthState Bank Corp now owns 1,212 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 442 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’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 sale, the executive vice president directly owned 140,602 shares in the company, valued at $6,987,919.40. This trade represents a 29.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Howard Guild sold 13,268 shares of the firm’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $659,419.60. Following the transaction, the chief accounting officer owned 22,407 shares in the company, valued at approximately $1,113,627.90. This trade represents a 37.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 156,902 shares of company stock worth $7,796,666 over the last ninety days. 0.16% of the stock is owned by company insiders.

SLB Stock Performance

Shares of SLB stock opened at $48.10 on Wednesday. The company has a market capitalization of $72.27 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 3.21 and a beta of 0.68. SLB Limited has a 52 week low of $31.11 and a 52 week high of $52.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33. The company has a 50-day simple moving average of $48.11 and a 200 day simple moving average of $40.26.

SLB (NYSE:SLB) last announced its quarterly earnings data 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. The business had revenue of $9.75 billion for 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 last year, the firm posted $0.92 earnings per share. On average, sell-side analysts predict that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be issued a $0.295 dividend. The ex-dividend date is Wednesday, February 11th. This is an increase from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a yield of 2.5%. SLB’s dividend payout ratio is presently 49.79%.

Analyst Upgrades and Downgrades

SLB has been the subject of several analyst reports. Jefferies Financial Group lifted their price target on shares of SLB from $51.00 to $58.00 and gave the company a “buy” rating in a report on Sunday, February 1st. Sanford C. Bernstein upped their price objective on shares of SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a research note on Thursday, December 11th. Evercore set a $54.00 target price on shares of SLB and gave the company an “outperform” rating in a research note on Tuesday, January 6th. JPMorgan Chase & Co. upped their price objective on SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Finally, Susquehanna raised their target price on shares of SLB from $52.00 to $58.00 and gave the company a “positive” rating in a research note on Monday, January 26th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and a consensus price target of $52.96.

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.