Elevation Point Wealth Partners LLC Sells 9,449 Shares of SLB Limited $SLB

Elevation Point Wealth Partners LLC lessened its holdings in shares of SLB Limited (NYSE:SLB) by 9.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,868 shares of the oil and gas company’s stock after selling 9,449 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in SLB were worth $3,004,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in SLB by 14.2% in the second quarter. Vanguard Group Inc. now owns 150,317,566 shares of the oil and gas company’s stock valued at $5,080,734,000 after purchasing an additional 18,672,021 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of SLB by 478.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock valued at $1,994,674,000 after buying an additional 39,474,501 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of SLB by 30.4% during the 2nd quarter. Franklin Resources Inc. now owns 20,233,749 shares of the oil and gas company’s stock worth $683,901,000 after acquiring an additional 4,719,852 shares during the last quarter. Boston Partners grew its position in SLB by 27.7% in the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock worth $824,160,000 after acquiring an additional 4,300,222 shares in the last quarter. Finally, Northern Trust Corp increased its stake in SLB by 4.4% in the first quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock valued at $602,860,000 after acquiring an additional 604,832 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Rothschild & Co Redburn started coverage on SLB in a report on Monday, November 3rd. They issued a “buy” rating and a $48.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SLB in a research note on Wednesday, October 8th. 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 on the stock. Barclays boosted their price objective on shares of SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Finally, Redburn Partners set a $48.00 target price on shares of SLB in a report on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, SLB presently has a consensus rating of “Moderate Buy” and an average target price of $51.28.

SLB Trading Down 0.6%

Shares of SLB opened at $35.69 on Thursday. The stock has a market capitalization of $53.31 billion, a P/E ratio of 13.78, a PEG ratio of 10.19 and a beta of 0.97. SLB Limited has a twelve month low of $31.11 and a twelve month high of $44.66. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. The firm has a fifty day simple moving average of $35.08 and a two-hundred day simple moving average of $34.87.

SLB (NYSE:SLB) last issued its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02. The firm had revenue of $8.93 billion during 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 company’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. On average, research analysts anticipate that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be issued a $0.285 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a yield of 3.2%. SLB’s dividend payout ratio (DPR) is 44.02%.

Insider Transactions at SLB

In other news, CFO Stephane Biguet sold 38,447 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $36.75, for a total transaction of $1,412,927.25. Following the transaction, the chief financial officer directly owned 175,690 shares of the company’s stock, valued at approximately $6,456,607.50. The trade was a 17.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction that occurred on 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 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 SEC filing for this sale provides additional information. In the last three months, insiders have sold 138,174 shares of company stock worth $5,107,677. 0.22% of the stock is currently owned by 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.