SLB Limited $SLB Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its stake in shares of SLB Limited (NYSE:SLB) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,403,067 shares of the oil and gas company’s stock after selling 235,477 shares during the quarter. Hsbc Holdings PLC’s holdings in SLB were worth $130,635,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of SLB. MV Capital Management Inc. acquired a new stake in shares of SLB in the fourth quarter valued at about $28,000. Strategic Wealth Advisors LLC acquired a new position in SLB during the 4th quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in SLB during the 4th quarter worth approximately $31,000. Steph & Co. boosted its holdings in SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 394 shares during the period. Finally, Lloyd Advisory Services LLC. acquired a new stake in SLB in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

Shares of SLB opened at $48.12 on Monday. The firm has a market cap of $71.95 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.93 and a beta of 0.70. 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 business’s 50 day moving average is $54.69 and its two-hundred day moving average is $49.11. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82.

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, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 earnings per share. Analysts forecast that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be given a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. SLB’s payout ratio is presently 51.53%.

Insider Transactions at SLB

In other news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the transaction, the director owned 16,953 shares in the company, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $56.18, for a total value of $2,998,832.22. Following the sale, the executive vice president directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group raised their price target on shares of SLB from $53.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. JPMorgan Chase & Co. lifted their price target on shares of SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Piper Sandler boosted their price objective on shares of SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Finally, Evercore reissued an “outperform” rating and issued a $64.00 price objective on shares of SLB in a research report on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, SLB currently has a consensus rating of “Moderate Buy” and an average target price of $60.83.

SLB Company 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.