SLB Limited $SLB Shares Sold by Vestcor Inc

Vestcor Inc cut its holdings in SLB Limited (NYSE:SLB) by 49.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,164 shares of the oil and gas company’s stock after selling 29,472 shares during the quarter. Vestcor Inc’s holdings in SLB were worth $1,158,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Strategic Wealth Advisors LLC acquired a new position in SLB in the fourth quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in SLB in the fourth quarter valued at $31,000. Steph & Co. increased its stake in SLB by 97.5% in the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 394 shares during the period. Lloyd Advisory Services LLC. acquired a new position in SLB in the fourth quarter valued at $31,000. Finally, Bruce G. Allen Investments LLC increased its stake in SLB by 37.0% in the fourth quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 227 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SLB has been the topic of a number of recent research reports. Morgan Stanley set a $57.00 price objective on shares of SLB in a research note on Monday, April 27th. BMO Capital Markets boosted their price target on shares of SLB from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Susquehanna boosted their price target on shares of SLB from $60.00 to $65.00 and gave the stock a “positive” rating in a research note on Monday, April 27th. UBS Group boosted their price target on shares of SLB from $61.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Piper Sandler boosted their price target on shares of SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.67.

Insider Transactions at SLB

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the business’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 of the company’s stock, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the sale, the director directly owned 16,953 shares in the company, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by insiders.

SLB Trading Up 3.0%

Shares of SLB stock opened at $56.52 on Tuesday. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The company’s 50-day simple moving average is $54.30 and its 200-day simple moving average is $48.03. The firm has a market cap of $84.50 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth ratio of 2.22 and a beta of 0.70.

SLB (NYSE:SLB) last issued its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same period in the previous year, the business posted $0.72 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that SLB Limited will post 2.62 earnings per share for the current year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.1%. SLB’s payout ratio is currently 51.53%.

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.