Shell Asset Management Co. Sells 36,876 Shares of SLB Limited $SLB

Shell Asset Management Co. trimmed its holdings in SLB Limited (NYSE:SLB) by 58.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,861 shares of the oil and gas company’s stock after selling 36,876 shares during the quarter. Shell Asset Management Co.’s holdings in SLB were worth $889,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SLB. Uhlmann Price Securities LLC lifted its position in shares of SLB by 4.5% during the third quarter. Uhlmann Price Securities LLC now owns 13,473 shares of the oil and gas company’s stock worth $463,000 after purchasing an additional 579 shares in the last quarter. HighTower Advisors LLC raised its position in SLB by 4.2% in the 3rd quarter. HighTower Advisors LLC now owns 1,029,786 shares of the oil and gas company’s stock worth $35,394,000 after purchasing an additional 41,534 shares during the last quarter. Cidel Asset Management Inc. raised its position in SLB by 27.1% in the 3rd quarter. Cidel Asset Management Inc. now owns 12,571 shares of the oil and gas company’s stock worth $432,000 after purchasing an additional 2,683 shares during the last quarter. Metis Global Partners LLC lifted its holdings in SLB by 10.0% during the 3rd quarter. Metis Global Partners LLC now owns 109,403 shares of the oil and gas company’s stock worth $3,760,000 after buying an additional 9,910 shares in the last quarter. Finally, Abich Financial Wealth Management LLC bought a new position in SLB in the 3rd quarter valued at $329,000. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SLB shares. Piper Sandler boosted their target price on SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Evercore set a $54.00 price objective on SLB and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Royal Bank Of Canada upped their target price on shares of SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Barclays lifted their price target on shares of SLB from $47.00 to $49.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Finally, Argus upgraded shares of SLB to a “strong-buy” rating in a report on Monday, January 26th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.38.

Insider Activity

In other SLB news, insider Dianne B. Ralston sold 18,617 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.50, for a total value of $921,541.50. Following the completion of the transaction, the insider directly owned 224,097 shares of the company’s stock, valued at approximately $11,092,801.50. The trade was a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Howard Guild sold 13,268 shares of the stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $659,419.60. Following the completion of the sale, the chief accounting officer owned 22,407 shares of the company’s stock, valued at $1,113,627.90. This trade represents a 37.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 162,402 shares of company stock valued at $7,993,676. Company insiders own 0.22% of the company’s stock.

SLB Stock Performance

Shares of NYSE:SLB opened at $50.37 on Tuesday. The firm’s 50 day simple moving average is $44.46 and its 200 day simple moving average is $38.38. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $52.40. The company has a market capitalization of $75.33 billion, a price-to-earnings ratio of 21.25, a P/E/G ratio of 3.43 and a beta of 0.72. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98.

SLB (NYSE:SLB) last issued its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. The firm had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.54 billion. SLB had a net margin of 9.45% and a return on equity of 17.45%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 earnings per share. As a group, sell-side analysts forecast that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, February 11th. This is a boost from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio (DPR) is 49.79%.

About SLB

SLB (NYSE: SLB), historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB’s product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.