SLB Limited $SLB Shares Sold by Citizens & Northern Corp

Citizens & Northern Corp cut its holdings in SLB Limited (NYSE:SLB) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,258 shares of the oil and gas company’s stock after selling 1,390 shares during the quarter. Citizens & Northern Corp’s holdings in SLB were worth $1,226,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. First Command Advisory Services Inc. lifted its stake in SLB by 300.0% during 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 purchasing an additional 477 shares during the last quarter. Atticus Wealth Management LLC acquired a new stake in shares of SLB during the second quarter worth $29,000. Atlas Capital Advisors Inc. purchased a new stake in shares of SLB during the first quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of SLB by 55.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 350 shares during the last quarter. Finally, Alpine Bank Wealth Management bought a new stake in shares of SLB in the 1st quarter valued at approximately $34,000. Institutional investors own 81.99% of the company’s stock.

SLB Trading Up 0.2%

Shares of SLB stock opened at $33.51 on Wednesday. The firm has a fifty day moving average of $34.52 and a 200-day moving average of $34.48. The stock has a market cap of $50.05 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 9.35 and a beta of 0.97. SLB Limited has a 52-week low of $31.11 and a 52-week high of $44.97. 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 (NYSE:SLB) last announced its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The firm had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 earnings per share. On average, equities research analysts forecast that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a yield of 3.4%. SLB’s payout ratio is currently 44.02%.

Analysts Set New Price Targets

SLB has been the topic of several analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of SLB in a research note on Wednesday, October 8th. Citigroup raised their target price on SLB from $46.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. decreased their price target on SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Monday. Piper Sandler set a $42.00 price target on SLB and gave the company an “overweight” rating in a research report on Monday. Finally, UBS Group reiterated a “buy” rating and set a $44.00 price target on shares of SLB in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, SLB has an average rating of “Moderate Buy” and an average target price of $51.69.

Insiders Place Their Bets

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction on Friday, September 12th. The stock was 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 directly owned 202,201 shares in the company, valued at $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 SEC, which can be accessed through this link. 0.22% of the stock is owned by company insiders.

SLB 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.