Titleist Asset Management LLC Raises Position in SLB Limited $SLB

Titleist Asset Management LLC lifted its holdings in shares of SLB Limited (NYSE:SLB) by 7.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,845 shares of the oil and gas company’s stock after purchasing an additional 5,600 shares during the quarter. Titleist Asset Management LLC’s holdings in SLB were worth $2,631,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SLB. Nuveen LLC purchased a new stake in SLB in the first quarter valued at approximately $169,232,000. Assetmark Inc. raised its stake in SLB by 19.5% during the second quarter. Assetmark Inc. now owns 56,561 shares of the oil and gas company’s stock worth $1,912,000 after purchasing an additional 9,210 shares during the period. Shell Asset Management Co. boosted its holdings in shares of SLB by 48.1% in the 2nd quarter. Shell Asset Management Co. now owns 62,737 shares of the oil and gas company’s stock valued at $2,121,000 after purchasing an additional 20,387 shares during the last quarter. Godsey & Gibb Inc. boosted its holdings in shares of SLB by 9.6% in the 2nd quarter. Godsey & Gibb Inc. now owns 493,092 shares of the oil and gas company’s stock valued at $16,667,000 after purchasing an additional 43,135 shares during the last quarter. Finally, Emerald Advisors LLC purchased a new stake in shares of SLB during the 2nd quarter valued at $352,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Price Performance

Shares of NYSE SLB opened at $36.22 on Friday. SLB Limited has a 1-year low of $31.11 and a 1-year high of $44.97. The business has a 50-day moving average of $35.03 and a 200-day moving average of $34.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. The company has a market capitalization of $54.11 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 10.19 and a beta of 0.97.

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

SLB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s payout ratio is presently 44.02%.

Insider Activity

In related news, CFO Stephane Biguet sold 38,447 shares of the firm’s stock in a transaction on 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 directly owned 175,690 shares of the company’s stock, valued at approximately $6,456,607.50. This trade represents a 17.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the sale, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 138,174 shares of company stock worth $5,107,677. 0.22% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SLB has been the topic of several research reports. Zacks Research raised SLB from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Melius Research started coverage on SLB in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 price target for the company. Piper Sandler set a $42.00 price objective on SLB and gave the stock an “overweight” rating in a report on Monday, October 20th. Redburn Partners set a $48.00 target price on SLB in a report on Monday, November 3rd. Finally, Rothschild Redb raised shares of SLB to a “strong-buy” rating in a research report on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.28.

About SLB

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.