SLB Limited $SLB Stock Holdings Lifted by Vestcor Inc

Vestcor Inc grew its position in SLB Limited (NYSE:SLB) by 97.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,636 shares of the oil and gas company’s stock after purchasing an additional 29,472 shares during the period. Vestcor Inc’s holdings in SLB were worth $2,050,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in SLB. Twin Peaks Wealth Advisors LLC acquired a new position in SLB in the second quarter worth approximately $25,000. Root Financial Partners LLC acquired a new stake in SLB in the third quarter valued at approximately $29,000. Corsicana & Co. bought a new stake in SLB in the third quarter worth approximately $31,000. Strengthening Families & Communities LLC bought a new stake in SLB in the third quarter worth approximately $31,000. Finally, SouthState Bank Corp increased its stake in shares of SLB by 57.4% during 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 last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SLB

In other news, CAO Howard Guild sold 13,268 shares of SLB stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $659,419.60. Following the sale, the chief accounting officer directly owned 22,407 shares in the company, valued at approximately $1,113,627.90. The trade was a 37.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the completion of the transaction, the executive vice president directly owned 140,602 shares of the company’s stock, valued at $6,987,919.40. This trade represents a 29.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 156,902 shares of company stock worth $7,796,666 in the last 90 days. 0.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SLB shares. Royal Bank Of Canada lifted their price objective on shares of SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Sanford C. Bernstein raised their price objective on SLB from $47.60 to $52.30 and gave the company an “outperform” rating in a research note on Thursday, December 11th. Piper Sandler upped their target price on SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. TD Cowen raised their price target on SLB from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, Bank of America boosted their price objective on SLB from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, SLB currently has an average rating of “Moderate Buy” and a consensus target price of $52.96.

SLB Price Performance

Shares of SLB stock opened at $48.16 on Thursday. SLB Limited has a 12 month low of $31.11 and a 12 month high of $52.45. The company has a market capitalization of $72.36 billion, a P/E ratio of 20.32, a P/E/G ratio of 3.27 and a beta of 0.68. The stock has a 50 day moving average of $48.30 and a two-hundred day moving average of $40.31. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36.

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 analyst estimates of $9.54 billion. SLB had a return on equity of 17.45% and a net margin of 9.45%.SLB’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 earnings per share. As a group, equities analysts expect that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, February 11th. This is a positive change from SLB’s previous quarterly dividend of $0.29. SLB’s payout ratio is 49.79%.

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.