Keybank National Association OH Sells 5,804 Shares of SLB Limited $SLB

Keybank National Association OH cut its holdings in SLB Limited (NYSE:SLB) by 5.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,895 shares of the oil and gas company’s stock after selling 5,804 shares during the period. Keybank National Association OH’s holdings in SLB were worth $3,714,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Legacy Wealth Asset Management LLC boosted its holdings in SLB by 2.2% in the second quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock worth $486,000 after purchasing an additional 308 shares in the last quarter. EntryPoint Capital LLC boosted its holdings in SLB by 4.5% in the first quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock worth $307,000 after purchasing an additional 316 shares in the last quarter. Horizon Investments LLC boosted its holdings in SLB by 1.5% in the first quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock worth $946,000 after purchasing an additional 330 shares in the last quarter. CreativeOne Wealth LLC boosted its holdings in SLB by 6.3% in the first quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock worth $236,000 after purchasing an additional 335 shares in the last quarter. Finally, Forza Wealth Management LLC boosted its holdings in SLB by 5.8% in the first quarter. Forza Wealth Management LLC now owns 6,374 shares of the oil and gas company’s stock worth $266,000 after purchasing an additional 350 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of research analyst reports. Wells Fargo & Company lowered shares of SLB from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 20th. Barclays boosted their target price on shares of SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Melius Research initiated coverage on shares of SLB in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price for the company. Citigroup boosted their target price on shares of SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Finally, UBS Group reissued a “buy” rating and set a $44.00 target price on shares of SLB in a research report on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.69.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the sale, the insider owned 202,201 shares of the company’s stock, valued at $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.22% of the stock is currently owned by insiders.

SLB Stock Performance

NYSE:SLB opened at $36.06 on Friday. The firm’s 50-day moving average is $34.90 and its 200-day moving average is $34.61. SLB Limited has a 52-week low of $31.11 and a 52-week high of $44.97. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. The company has a market cap of $53.87 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 10.19 and a beta of 0.97.

SLB (NYSE:SLB) last posted its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 earnings per share. Equities research analysts anticipate that SLB Limited will post 3.38 earnings per share for the current year.

SLB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.2%. SLB’s payout ratio is presently 44.02%.

SLB Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.