Kingsview Wealth Management LLC Trims Stock Holdings in SLB Limited $SLB

Kingsview Wealth Management LLC lowered its stake in SLB Limited (NYSE:SLB) by 80.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 21,667 shares of the oil and gas company’s stock after selling 91,620 shares during the quarter. Kingsview Wealth Management LLC’s holdings in SLB were worth $832,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SLB. Vanguard Group Inc. increased its holdings in SLB by 23.3% in the 3rd quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock worth $6,371,335,000 after acquiring an additional 35,057,313 shares in the last quarter. State Street Corp boosted its position in shares of SLB by 7.0% in the third quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock worth $2,898,037,000 after purchasing an additional 5,466,786 shares during the period. Greenhaven Associates Inc. purchased a new stake in shares of SLB in the fourth quarter worth $178,883,000. Caisse de depot et placement du Quebec increased its stake in shares of SLB by 10,422.1% in the third quarter. Caisse de depot et placement du Quebec now owns 3,165,581 shares of the oil and gas company’s stock worth $108,801,000 after purchasing an additional 3,135,496 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of SLB by 25.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company’s stock valued at $528,217,000 after purchasing an additional 3,094,764 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

SLB Trading Up 0.4%

Shares of SLB stock opened at $54.78 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $81.91 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 2.21 and a beta of 0.72. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82. The stock’s 50-day moving average price is $53.66 and its 200-day moving average price is $47.32.

SLB (NYSE:SLB) last released its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. During the same quarter last year, the business posted $0.72 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts predict that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, June 3rd. SLB’s payout ratio is currently 51.53%.

Insiders Place Their Bets

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director directly owned 16,953 shares in the company, valued at $921,056.49. The trade was a 10.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the sale, the executive vice president owned 47,421 shares in the company, valued at $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of analyst reports. Morgan Stanley set a $57.00 target price on shares of SLB in a research note on Monday, April 27th. Barclays raised their price target on SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Piper Sandler upped their price objective on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Susquehanna increased their target price on SLB from $60.00 to $65.00 and gave the stock a “positive” rating in a research report on Monday, April 27th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $65.00 target price on shares of SLB in a research note on Sunday, April 26th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.74.

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.