WealthTrust Axiom LLC trimmed its position in SLB Limited (NYSE:SLB – Free Report) by 10.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,361 shares of the oil and gas company’s stock after selling 17,233 shares during the quarter. SLB accounts for 1.5% of WealthTrust Axiom LLC’s holdings, making the stock its 18th largest holding. WealthTrust Axiom LLC’s holdings in SLB were worth $5,924,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Steph & Co. increased its stake in SLB by 97.5% in the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 394 shares during the last quarter. Strategic Wealth Advisors LLC bought a new position in SLB in the fourth quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in SLB in the fourth quarter valued at approximately $31,000. Lloyd Advisory Services LLC. bought a new position in SLB in the fourth quarter valued at approximately $31,000. Finally, Bruce G. Allen Investments LLC increased its stake in SLB by 37.0% in the fourth quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 227 shares during the last quarter. 81.99% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on SLB shares. Piper Sandler lifted their price objective on shares of SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. BMO Capital Markets raised their target price on shares of SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Susquehanna raised their target price on shares of SLB from $60.00 to $65.00 and gave the company a “positive” rating in a research report on Monday, April 27th. Citigroup raised their target price on shares of SLB from $59.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings lowered shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.
SLB Stock Performance
Shares of SLB stock opened at $56.03 on Monday. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The firm has a market capitalization of $83.76 billion, a P/E ratio of 24.47, a P/E/G ratio of 2.28 and a beta of 0.70. The company’s 50 day moving average price is $54.64 and its two-hundred day moving average price is $48.60.
SLB (NYSE:SLB – Get Free Report) last issued its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.72 earnings per share. On average, equities analysts forecast that SLB Limited will post 2.62 earnings per share for the current fiscal year.
SLB Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB’s payout ratio is 51.53%.
Insiders Place Their Bets
In other news, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction on Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the transaction, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the transaction, the director owned 16,953 shares in the company, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by insiders.
SLB Profile
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.
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