CNB Bank Sells 394 Shares of SLB Limited $SLB

CNB Bank cut its position in SLB Limited (NYSE:SLB) by 8.5% in the second quarter, HoldingsChannel.com reports. The firm owned 4,263 shares of the oil and gas company’s stock after selling 394 shares during the period. CNB Bank’s holdings in SLB were worth $144,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. First Command Advisory Services Inc. raised its stake in shares of SLB by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 477 shares in the last quarter. Atticus Wealth Management LLC acquired a new stake in SLB in the 2nd quarter worth approximately $29,000. Atlas Capital Advisors Inc. purchased a new stake in SLB during the 1st quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in 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 purchasing an additional 350 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of SLB in the first quarter worth $38,000. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SLB has been the topic of a number of research analyst reports. Citigroup boosted their price objective on shares of SLB from $46.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday. Susquehanna cut their price objective on SLB from $44.00 to $42.00 and set a “positive” rating on the stock in a report on Monday, July 21st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SLB in a report on Friday. Piper Sandler set a $42.00 price target on shares of SLB and gave the stock an “overweight” rating in a report on Monday, October 20th. Finally, Melius started coverage on shares of SLB in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, SLB presently has a consensus rating of “Moderate Buy” and an average target price of $51.69.

Insider Buying and Selling at SLB

In related news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

SLB Price Performance

Shares of NYSE SLB opened at $35.84 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. The stock has a market capitalization of $53.55 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 9.91 and a beta of 0.97. The firm’s 50 day simple moving average is $34.66 and its 200-day simple moving average is $34.55. SLB Limited has a 12 month low of $31.11 and a 12 month high of $44.97.

SLB (NYSE:SLB) last announced 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 firm had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 earnings per share. Analysts expect that SLB Limited will post 3.38 EPS for the current year.

SLB Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.2%. SLB’s dividend payout ratio (DPR) is 44.02%.

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.