SLB Limited $SLB Position Boosted by RNC Capital Management LLC

RNC Capital Management LLC lifted its stake in shares of SLB Limited (NYSE:SLB) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,035 shares of the oil and gas company’s stock after purchasing an additional 659 shares during the period. RNC Capital Management LLC’s holdings in SLB were worth $1,928,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. First Command Advisory Services Inc. lifted its position in shares of SLB by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 477 shares during the last quarter. Atlas Capital Advisors Inc. bought a new position in SLB in the first quarter worth about $33,000. Alpine Bank Wealth Management bought a new position in SLB in the first quarter worth about $34,000. Atticus Wealth Management LLC bought a new position in SLB in the second quarter worth about $29,000. Finally, Park Square Financial Group LLC bought a new position in SLB in the first quarter worth about $38,000. Institutional investors own 81.99% of the company’s stock.

SLB Price Performance

NYSE SLB opened at $34.88 on Thursday. 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 firm 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. SLB Limited has a 12 month low of $31.11 and a 12 month high of $44.97. The company’s 50 day simple moving average is $34.55 and its 200 day simple moving average is $34.49.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. The firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 earnings per share. As a group, equities research analysts forecast that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be given a $0.285 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a yield of 3.3%. SLB’s payout ratio is 44.02%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Melius Research assumed coverage on shares of SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 target price on the stock. Jefferies Financial Group cut their price target on SLB from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SLB in a report on Wednesday, October 8th. Piper Sandler set a $42.00 price target on SLB and gave the company an “overweight” rating in a report on Monday. Finally, Zacks Research raised SLB from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, SLB presently has an average rating of “Moderate Buy” and an average price target of $51.69.

Insider Transactions at SLB

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction that occurred 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 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 filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.22% of the company’s stock.

SLB 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.