SLB Limited $SLB Shares Acquired by Ballast Advisors LLC

Ballast Advisors LLC boosted its stake in SLB Limited (NYSE:SLB) by 22.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,111 shares of the oil and gas company’s stock after acquiring an additional 14,343 shares during the period. SLB accounts for 0.8% of Ballast Advisors LLC’s portfolio, making the stock its 23rd largest position. Ballast Advisors LLC’s holdings in SLB were worth $2,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in SLB. First Command Advisory Services Inc. raised its holdings in SLB by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 477 shares in the last quarter. Atticus Wealth Management LLC acquired a new stake in SLB in the second quarter valued at $29,000. Atlas Capital Advisors Inc. acquired a new stake in SLB in the first quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings 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 in the last quarter. Finally, Park Square Financial Group LLC acquired a new stake in SLB in the first quarter valued at $38,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on SLB shares. Zacks Research raised shares of SLB from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. 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. JPMorgan Chase & Co. dropped their target price on shares of SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Finally, Piper Sandler set a $42.00 target price on shares of SLB and gave the stock an “overweight” rating in a report on Monday, October 20th. Two 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.69.

SLB Stock Down 0.5%

SLB stock opened at $35.84 on Friday. The company has a 50-day simple moving average of $34.66 and a 200-day simple moving average of $34.55. The firm has a market capitalization of $53.55 billion, a P/E ratio of 13.84, a P/E/G ratio of 9.91 and a beta of 0.97. 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 one year low of $31.11 and a one year high of $44.97.

SLB (NYSE:SLB) last released its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.67 by $0.02. The business had revenue of $8.93 billion during 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 company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share. As a group, equities analysts expect that SLB Limited will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

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

Insider Activity at SLB

In other news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. This represents a 16.42% 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. Corporate insiders own 0.22% of the company’s stock.

About SLB

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.