Renasant Bank Takes $825,000 Position in SLB Limited $SLB

Renasant Bank bought a new stake in shares of SLB Limited (NYSE:SLB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 24,418 shares of the oil and gas company’s stock, valued at approximately $825,000.

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

SLB Trading Up 1.8%

SLB opened at $37.58 on Wednesday. The stock has a 50-day moving average of $34.98 and a 200 day moving average of $34.72. 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 12 month low of $31.11 and a 12 month high of $44.97. The firm has a market cap of $56.13 billion, a P/E ratio of 14.51, a P/E/G ratio of 10.19 and a beta of 0.97.

SLB (NYSE:SLB) last issued its quarterly earnings data 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 business 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%.The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 earnings per share. As a group, research analysts forecast that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s payout ratio is presently 44.02%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Stifel Nicolaus cut their target price on shares of SLB from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Wells Fargo & Company downgraded shares of SLB from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 20th. Redburn Partners set a $48.00 target price on SLB in a report on Monday, November 3rd. Barclays boosted their target price on SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Finally, Piper Sandler set a $42.00 price target on SLB and gave the company an “overweight” rating in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.28.

Insider Buying and Selling

In other news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction dated 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 sale, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by insiders.

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.