SLB Limited $SLB Shares Sold by Profund Advisors LLC

Profund Advisors LLC cut its holdings in SLB Limited (NYSE:SLB) by 4.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 64,786 shares of the oil and gas company’s stock after selling 2,952 shares during the quarter. Profund Advisors LLC’s holdings in SLB were worth $2,190,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of SLB. Legacy Wealth Asset Management LLC grew its stake in shares of SLB by 2.2% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock worth $486,000 after purchasing an additional 308 shares during the last quarter. EntryPoint Capital LLC increased its holdings in shares of SLB by 4.5% in the first quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock valued at $307,000 after buying an additional 316 shares in the last quarter. Horizon Investments LLC lifted its position in shares of SLB by 1.5% during the 1st quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock valued at $946,000 after acquiring an additional 330 shares during the last quarter. CreativeOne Wealth LLC boosted its stake in shares of SLB by 6.3% during the 1st quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock worth $236,000 after acquiring an additional 335 shares in the last quarter. Finally, NewSquare Capital LLC boosted its stake in shares of SLB by 51.4% during the 2nd quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 341 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Trading Up 0.7%

Shares of NYSE SLB opened at $36.93 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. SLB Limited has a one year low of $31.11 and a one year high of $44.97. The business has a 50-day moving average price of $34.95 and a two-hundred day moving average price of $34.70. The firm has a market capitalization of $55.17 billion, a PE ratio of 14.26, a PEG ratio of 10.19 and a beta of 0.97.

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 analysts’ consensus estimates 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 firm’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 earnings per share. As a group, analysts predict that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 3.1%. SLB’s dividend payout ratio is presently 44.02%.

Insider Activity

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction on 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 sale, the insider owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SLB. Wells Fargo & Company lowered SLB from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 20th. JPMorgan Chase & Co. dropped their price target on SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Rothschild Redb upgraded SLB to a “strong-buy” rating in a report on Monday, November 3rd. Redburn Partners set a $48.00 price objective on shares of SLB in a research note on Monday, November 3rd. Finally, Piper Sandler set a $42.00 target price on shares of SLB and gave the stock an “overweight” rating in a research report on Monday, October 20th. Three research 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.28.

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.