SLB Limited $SLB Stock Acquired by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC lifted its holdings in shares of SLB Limited (NYSE:SLB) by 7,779.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,487 shares of the oil and gas company’s stock after buying an additional 20,227 shares during the period. Provenance Wealth Advisors LLC’s holdings in SLB were worth $998,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Associated Banc Corp acquired a new stake in SLB in the third quarter valued at approximately $3,123,000. Factory Mutual Insurance Co. bought a new position in shares of SLB in the 3rd quarter valued at $38,961,000. VCI Wealth Management LLC bought a new position in shares of SLB in the 3rd quarter valued at $2,174,000. Signature Equity Partners LLC lifted its stake in shares of SLB by 42.5% in the 3rd quarter. Signature Equity Partners LLC now owns 751 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 224 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of SLB by 24.4% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 66,262 shares of the oil and gas company’s stock valued at $3,228,000 after acquiring an additional 13,015 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Capital One Financial lowered 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. Freedom Broker upgraded shares of SLB from a “sell” rating to a “hold” rating and set a $48.00 target price on the stock in a research report on Monday, October 26th. 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. Barclays reduced their target price on shares of SLB from $66.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $66.00 price target (up from $65.00) on shares of SLB in a research report on Sunday, July 26th. Twenty-four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, SLB presently has a consensus rating of “Moderate Buy” and an average price target of $61.52.

SLB Trading Down 1.3%

SLB opened at $51.44 on Thursday. The company has a market cap of $75.92 billion, a P/E ratio of 24.97, a price-to-earnings-growth ratio of 2.89 and a beta of 0.80. The company has a fifty day moving average price of $52.39 and a two-hundred day moving average price of $51.45. The company has a current ratio of 1.39, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. SLB Limited has a 1-year low of $34.65 and a 1-year high of $60.46.

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

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 2nd will be given a $0.2950 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.18 annualized dividend and a yield of 2.3%. SLB’s dividend payout ratio (DPR) is presently 57.28%.

Insider Activity

In other SLB news, insider Dianne Ralston sold 20,986 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The stock was 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. The trade was a 9.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Howard Guild sold 10,047 shares of the stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $53.65, for a total value of $539,021.55. Following the completion of the sale, the chief accounting officer directly owned 12,845 shares of the company’s stock, valued at $689,134.25. The trade was a 43.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is currently owned by company insiders.

SLB 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.