Wealthspire Advisors LLC Invests $278,000 in SLB Limited $SLB

Wealthspire Advisors LLC acquired a new position in shares of SLB Limited (NYSE:SLB) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,235 shares of the oil and gas company’s stock, valued at approximately $278,000.

Other institutional investors have also recently added to or reduced their stakes in the company. English Capital Management LLC raised its position in SLB by 11.5% in the second quarter. English Capital Management LLC now owns 111,606 shares of the oil and gas company’s stock valued at $3,772,000 after purchasing an additional 11,500 shares during the period. Vanguard Group Inc. grew its stake in shares of SLB by 14.2% in the second quarter. Vanguard Group Inc. now owns 150,317,566 shares of the oil and gas company’s stock valued at $5,080,734,000 after buying an additional 18,672,021 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of SLB by 26.0% in the 2nd quarter. Empowered Funds LLC now owns 516,004 shares of the oil and gas company’s stock valued at $17,441,000 after buying an additional 106,613 shares during the period. Chiron Capital Management LLC raised its holdings in shares of SLB by 113.1% in the 2nd quarter. Chiron Capital Management LLC now owns 41,635 shares of the oil and gas company’s stock valued at $1,407,000 after buying an additional 22,099 shares during the period. Finally, Poehling Capital Management INC. lifted its stake in SLB by 7.2% during the 2nd quarter. Poehling Capital Management INC. now owns 48,442 shares of the oil and gas company’s stock worth $1,637,000 after acquiring an additional 3,234 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling at SLB

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction on 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 transaction, the insider directly owned 202,201 shares in the company, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total value of $2,261,400.00. Following the sale, the executive vice president directly owned 159,371 shares of the company’s stock, valued at approximately $6,006,692.99. This represents a 27.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 138,174 shares of company stock worth $5,107,677. 0.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Barclays lifted their target price on SLB from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. UBS Group reissued a “buy” rating and issued a $44.00 price objective on shares of SLB in a research note on Tuesday, October 21st. Melius started coverage on shares of SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective for the company. Piper Sandler set a $42.00 target price on shares of SLB and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Rothschild & Co Redburn assumed coverage on shares of SLB in a research report on Monday, November 3rd. They issued a “buy” rating and a $48.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.28.

SLB Stock Up 2.9%

SLB stock opened at $36.22 on Friday. The company’s 50 day moving average price is $35.03 and its 200 day moving average price is $34.84. The firm 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 Limited has a fifty-two week low of $31.11 and a fifty-two 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.

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

SLB Announces Dividend

The firm 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. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.1%. SLB’s dividend payout ratio (DPR) is 44.02%.

SLB Company 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.