Texas Permanent School Fund Corp Reduces Holdings in SLB Limited $SLB

Texas Permanent School Fund Corp lowered its position in SLB Limited (NYSE:SLB) by 36.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,582 shares of the oil and gas company’s stock after selling 55,492 shares during the quarter. Texas Permanent School Fund Corp’s holdings in SLB were worth $3,231,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC purchased a new stake in SLB in the 2nd quarter worth about $25,000. Atticus Wealth Management LLC bought a new position in shares of SLB during the second quarter valued at approximately $29,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of SLB by 55.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock worth $33,000 after buying an additional 350 shares during the period. NewSquare Capital LLC raised its holdings in shares of SLB by 51.4% in the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock worth $34,000 after buying an additional 341 shares during the period. Finally, Crews Bank & Trust lifted its stake in shares of SLB by 993.4% during the 2nd quarter. Crews Bank & Trust now owns 1,651 shares of the oil and gas company’s stock worth $56,000 after acquiring an additional 1,500 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on SLB shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. JPMorgan Chase & Co. cut their price target on shares of SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Piper Sandler raised their price target on shares of SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup boosted their price objective on shares of SLB from $47.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, Rothschild & Co Redburn initiated coverage on shares of SLB in a research report on Monday, November 3rd. They set a “buy” rating and a $48.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.42.

Insider Buying and Selling

In other SLB news, Director Peter John Coleman sold 5,500 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total transaction of $197,010.00. Following the completion of the sale, the director directly owned 18,671 shares of the company’s stock, valued at approximately $668,795.22. This represents a 22.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Stephane Biguet sold 38,447 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $36.75, for a total transaction of $1,412,927.25. Following the completion of the sale, the chief financial officer owned 175,690 shares in the company, valued at $6,456,607.50. This represents a 17.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 103,947 shares of company stock worth $3,871,337 in the last three months. 0.22% of the stock is owned by insiders.

SLB Trading Down 0.0%

NYSE:SLB opened at $38.12 on Friday. The firm has a 50-day simple moving average of $36.34 and a 200-day simple moving average of $35.29. SLB Limited has a one year low of $31.11 and a one year high of $44.66. The firm has a market cap of $56.95 billion, a P/E ratio of 14.72 and a beta of 0.73. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39.

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

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s payout ratio is presently 44.02%.

About SLB

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.