SLB Limited $SLB Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. reduced its position in shares of SLB Limited (NYSE:SLB) by 0.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,518,081 shares of the oil and gas company’s stock after selling 18,077 shares during the period. Bessemer Group Inc.’s holdings in SLB were worth $220,313,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of SLB by 478.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock valued at $1,994,674,000 after acquiring an additional 39,474,501 shares during the last quarter. Boston Partners increased its position in shares of SLB by 27.7% during the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock valued at $824,160,000 after acquiring an additional 4,300,222 shares during the last quarter. Northern Trust Corp increased its position in shares of SLB by 4.4% during the first quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock valued at $602,860,000 after acquiring an additional 604,832 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of SLB by 22.8% during the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company’s stock valued at $375,738,000 after acquiring an additional 1,667,203 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of SLB by 3.8% during the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company’s stock valued at $320,154,000 after acquiring an additional 281,937 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 equities research analysts have weighed in on the stock. Zacks Research upgraded shares of SLB from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Melius Research assumed coverage on shares of SLB in a research report 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 target on shares of SLB and gave the company an “overweight” rating in a research report on Monday, October 20th. Stifel Nicolaus dropped their price target on shares of SLB from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Finally, Susquehanna dropped their price objective on shares of SLB from $44.00 to $42.00 and set a “positive” rating for the company in a report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, SLB presently has an average rating of “Moderate Buy” and a consensus target price of $51.69.

SLB Trading Down 0.5%

Shares of SLB stock opened at $35.84 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. The stock has a market capitalization of $53.55 billion, a P/E ratio of 13.84, a price-to-earnings-growth ratio of 9.92 and a beta of 0.97. The company has a 50 day moving average price of $34.66 and a 200 day moving average price of $34.54. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $44.97.

SLB (NYSE:SLB) last announced its quarterly earnings data 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. SLB had a net margin of 10.34% and a return on equity of 18.97%. The firm had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.99 billion. During the same quarter in the previous year, the business posted $0.89 earnings per share. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. Equities research analysts predict that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be paid a $0.285 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.2%. SLB’s payout ratio is currently 44.02%.

Insider Transactions at SLB

In related 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 completion of the transaction, the insider owned 202,201 shares in the company, valued at $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.22% of the stock is owned by corporate insiders.

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.