Capital Investment Counsel Inc Acquires 2,760 Shares of SLB Limited $SLB

Capital Investment Counsel Inc grew its holdings in shares of SLB Limited (NYSE:SLB) by 18.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,956 shares of the oil and gas company’s stock after acquiring an additional 2,760 shares during the quarter. Capital Investment Counsel Inc’s holdings in SLB were worth $607,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. First Command Advisory Services Inc. grew its stake in SLB by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after buying an additional 477 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in shares of SLB during the 1st quarter valued at $33,000. Atticus Wealth Management LLC bought a new stake in shares of SLB during the 2nd quarter worth $29,000. N.E.W. Advisory Services LLC purchased a new position in SLB in the first quarter worth $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in SLB by 55.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 350 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SLB. Piper Sandler set a $42.00 target price on SLB and gave the stock an “overweight” rating in a research note on Monday, October 20th. UBS Group reaffirmed a “buy” rating and issued a $44.00 price objective on shares of SLB in a research note on Tuesday, October 21st. Citigroup lifted their target price on shares of SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Susquehanna cut their price target on shares of SLB from $44.00 to $42.00 and set a “positive” rating for the company in a research report on Monday, July 21st. Finally, Rothschild & Co Redburn began coverage on SLB in a report on Monday, November 3rd. They issued a “buy” rating and a $48.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, SLB currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.28.

SLB Stock Performance

Shares of NYSE:SLB opened at $36.06 on Thursday. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $35.00 and a 200-day moving average price of $34.73. The company has a market cap of $53.87 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 10.19 and a beta of 0.97. SLB Limited has a 12 month low of $31.11 and a 12 month high of $44.97.

SLB (NYSE:SLB) last announced its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The company 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%.SLB’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 EPS. As a group, equities analysts anticipate that SLB Limited will post 3.38 EPS for the current year.

SLB Announces Dividend

The business also recently disclosed 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 3.2%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s payout ratio is presently 44.02%.

Insider Buying and Selling at SLB

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 159,371 shares of the company’s stock, valued at $6,006,692.99. This represents a 27.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, 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 SEC filing for this sale provides additional information. 0.22% of the stock is currently owned by corporate insiders.

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.