SLB Limited $SLB Shares Sold by Korea Investment CORP

Korea Investment CORP lowered its position in shares of SLB Limited (NYSE:SLB) by 6.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,143,083 shares of the oil and gas company’s stock after selling 78,271 shares during the quarter. Korea Investment CORP owned about 0.08% of SLB worth $39,288,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC purchased a new position in shares of SLB in the second quarter worth about $25,000. Root Financial Partners LLC purchased a new stake in SLB in the third quarter valued at approximately $29,000. Corsicana & Co. acquired a new position in SLB in the 3rd quarter worth approximately $31,000. Strengthening Families & Communities LLC acquired a new position in SLB in the 3rd quarter worth approximately $31,000. Finally, SouthState Bank Corp raised its position in 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 buying an additional 442 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the transaction, the executive vice president owned 140,602 shares in the company, valued at approximately $6,987,919.40. This trade represents a 29.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Howard Guild sold 13,268 shares of the business’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $659,419.60. Following the transaction, the chief accounting officer directly owned 22,407 shares in the company, valued at $1,113,627.90. This trade represents a 37.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 156,902 shares of company stock valued at $7,796,666. Insiders own 0.16% of the company’s stock.

SLB Price Performance

Shares of NYSE SLB opened at $47.24 on Tuesday. The firm has a 50-day simple moving average of $47.92 and a 200-day simple moving average of $40.17. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $70.97 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 3.19 and a beta of 0.68. SLB Limited has a 52 week low of $31.11 and a 52 week high of $52.45.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. SLB had a net margin of 9.45% and a return on equity of 17.45%. The firm had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.54 billion. During the same period in the previous year, the business posted $0.92 earnings per share. SLB’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities analysts predict that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Increases Dividend

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

Analysts Set New Price Targets

Several analysts have commented on SLB shares. The Goldman Sachs Group lifted their price objective on shares of SLB from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Piper Sandler increased their price objective on shares of SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Freedom Capital cut shares of SLB from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Citigroup upped their price target on shares of SLB from $53.00 to $56.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, Argus raised SLB to a “strong-buy” rating in a research report on Monday, January 26th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.96.

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.