Vinva Investment Management Ltd Trims Stock Position in SLB Limited $SLB

Vinva Investment Management Ltd trimmed its stake in SLB Limited (NYSE:SLB) by 18.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,532 shares of the oil and gas company’s stock after selling 16,195 shares during the period. Vinva Investment Management Ltd’s holdings in SLB were worth $2,476,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC purchased a new stake in SLB in the second quarter valued at $25,000. Root Financial Partners LLC purchased a new position in shares of SLB during the third quarter worth about $29,000. Corsicana & Co. purchased a new position in shares of SLB during the third quarter worth about $31,000. Strengthening Families & Communities LLC acquired a new stake in shares of SLB during the third quarter worth about $31,000. Finally, SouthState Bank Corp lifted its holdings in shares of SLB by 57.4% in the 3rd quarter. SouthState Bank Corp now owns 1,212 shares of the oil and gas company’s stock valued at $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.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group reissued a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. Royal Bank Of Canada lifted their price target on SLB from $51.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Piper Sandler increased their price objective on SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Wall Street Zen upgraded shares of SLB from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, Barclays lifted their target price on shares of SLB from $47.00 to $49.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.96.

SLB Stock Performance

Shares of SLB opened at $47.24 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. SLB Limited has a 52-week low of $31.11 and a 52-week high of $52.45. The company has a 50-day simple moving average of $47.92 and a 200-day simple moving average of $40.17. The company has a market capitalization of $70.97 billion, a PE ratio of 19.93, a P/E/G ratio of 3.19 and a beta of 0.68.

SLB (NYSE:SLB) last released its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. SLB had a net margin of 9.45% and a return on equity of 17.45%. The firm had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.54 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. Equities research analysts predict that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Increases Dividend

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

Insiders Place Their Bets

In related news, CAO Howard Guild sold 13,268 shares of SLB stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $659,419.60. Following the completion of the transaction, the chief accounting officer directly owned 22,407 shares of the company’s stock, valued at approximately $1,113,627.90. The trade was a 37.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Dianne B. Ralston sold 18,617 shares of the business’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.50, for a total value of $921,541.50. Following the sale, the insider owned 224,097 shares in the company, valued at approximately $11,092,801.50. The trade was a 7.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 156,902 shares of company stock worth $7,796,666. 0.16% of the stock is owned by insiders.

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.