SLB Limited $SLB Shares Sold by Perpetual Ltd

Perpetual Ltd reduced its position in SLB Limited (NYSE:SLB) by 94.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,531 shares of the oil and gas company’s stock after selling 159,190 shares during the quarter. Perpetual Ltd’s holdings in SLB were worth $327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of SLB. Root Financial Partners LLC acquired a new position in SLB in the 3rd quarter worth about $29,000. Corsicana & Co. acquired a new position in SLB in the 3rd quarter worth about $31,000. Strengthening Families & Communities LLC acquired a new position in SLB in the 3rd quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in SLB in the 4th quarter worth about $31,000. Finally, SouthState Bank Corp raised its holdings in SLB by 57.4% in 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 during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 18,617 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.50, for a total value of $921,541.50. Following the completion of the sale, the insider owned 224,097 shares of the company’s stock, valued at approximately $11,092,801.50. This trade represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were 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 of the company’s stock, valued at approximately $6,987,919.40. This represents a 29.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 156,902 shares of company stock valued at $7,796,666. Corporate insiders own 0.16% of the company’s stock.

SLB Price Performance

Shares of SLB stock opened at $49.74 on Tuesday. The business has a 50 day simple moving average of $49.51 and a two-hundred day simple moving average of $42.01. SLB Limited has a 12 month low of $31.11 and a 12 month high of $54.80. The stock has a market capitalization of $74.74 billion, a P/E ratio of 20.99, a PEG ratio of 3.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98.

SLB (NYSE:SLB) last issued its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The business had revenue of $9.75 billion during 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 company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 earnings per share. As a group, analysts predict that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th were given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.4%. This is a positive change from SLB’s previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, February 11th. SLB’s dividend payout ratio (DPR) is currently 49.79%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SLB shares. Weiss Ratings restated a “hold (c)” rating on shares of SLB in a research report on Thursday. TD Cowen increased their price objective on shares of SLB from $56.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Sanford C. Bernstein increased their price objective on shares of SLB from $52.30 to $56.10 and gave the company an “outperform” rating in a report on Thursday, March 12th. UBS Group reaffirmed a “buy” rating on shares of SLB in a report on Tuesday, January 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 price objective on shares of SLB in a report on Wednesday, January 21st. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $53.16.

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.