Parcion Private Wealth LLC Sells 667 Shares of SLB Limited $SLB

Parcion Private Wealth LLC decreased its position in shares of SLB Limited (NYSE:SLB) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,564 shares of the oil and gas company’s stock after selling 667 shares during the quarter. Parcion Private Wealth LLC’s holdings in SLB were worth $594,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Legacy Wealth Asset Management LLC lifted its holdings in shares of SLB by 2.2% in the second quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock worth $486,000 after acquiring an additional 308 shares during the last quarter. EntryPoint Capital LLC lifted its holdings in shares of SLB by 4.5% in the first quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock worth $307,000 after acquiring an additional 316 shares during the last quarter. Horizon Investments LLC lifted its holdings in shares of SLB by 1.5% in the first quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock worth $946,000 after acquiring an additional 330 shares during the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of SLB by 6.3% in the first quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock worth $236,000 after acquiring an additional 335 shares during the last quarter. Finally, Forza Wealth Management LLC lifted its holdings in shares of SLB by 5.8% in the first quarter. Forza Wealth Management LLC now owns 6,374 shares of the oil and gas company’s stock worth $266,000 after acquiring an additional 350 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the subject of a number of research reports. Wells Fargo & Company cut shares of SLB from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 20th. Citigroup increased their target price on shares of SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday. Jefferies Financial Group dropped their price objective on shares of SLB from $54.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, June 26th. Barclays raised their price objective on shares of SLB from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Piper Sandler set a $42.00 price objective on shares of SLB and gave the company an “overweight” rating in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, SLB currently has an average rating of “Moderate Buy” and an average price target of $51.69.

Insiders Place Their Bets

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

SLB Stock Performance

NYSE:SLB opened at $34.88 on Thursday. The company has a market capitalization of $52.09 billion, a PE ratio of 13.47, a P/E/G ratio of 9.34 and a beta of 0.97. The company has a 50 day simple moving average of $34.55 and a two-hundred day simple moving average of $34.49. 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 Limited has a fifty-two week low of $31.11 and a fifty-two week high of $44.97.

SLB (NYSE:SLB) last released its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $8.93 billion during 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 revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. Research analysts anticipate that SLB Limited will post 3.38 earnings per share for the current year.

SLB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders 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 yield of 3.3%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio is currently 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.