PNC Financial Services Group Inc. Has $26.19 Million Stock Position in SLB Limited $SLB

PNC Financial Services Group Inc. lessened its holdings in shares of SLB Limited (NYSE:SLB) by 8.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 761,861 shares of the oil and gas company’s stock after selling 67,757 shares during the quarter. PNC Financial Services Group Inc. owned 0.05% of SLB worth $26,185,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Twin Peaks Wealth Advisors LLC acquired a new position in shares of SLB during the 2nd quarter worth about $25,000. Root Financial Partners LLC acquired a new position in SLB during the third quarter valued at approximately $29,000. Corsicana & Co. bought a new position in SLB in the third quarter valued at approximately $31,000. Strengthening Families & Communities LLC acquired a new position in shares of SLB during the 3rd quarter worth approximately $31,000. Finally, NewSquare Capital LLC increased its position in shares of SLB by 51.4% during the 2nd quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 341 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SLB has been the topic of several analyst reports. Argus raised shares of SLB to a “strong-buy” rating in a research report on Monday, January 26th. Bank of America raised their target price on shares of SLB from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Morgan Stanley reiterated an “overweight” rating and set a $50.00 price target on shares of SLB in a report on Wednesday, January 21st. Stifel Nicolaus set a $56.00 price objective on SLB in a research note on Monday, January 26th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $49.00 target price on shares of SLB in a research note on Wednesday, January 14th. 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.38.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 18,617 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.50, for a total transaction of $921,541.50. Following the sale, the insider owned 224,097 shares in the company, valued at approximately $11,092,801.50. This trade represents a 7.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter John Coleman sold 5,500 shares of SLB stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total transaction of $197,010.00. Following the completion of the transaction, the director directly owned 18,671 shares in the company, valued at $668,795.22. This trade represents a 22.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 162,402 shares of company stock valued at $7,993,676 over the last 90 days. 0.22% of the stock is owned by company insiders.

SLB Stock Performance

Shares of NYSE:SLB opened at $49.84 on Wednesday. SLB Limited has a 12-month low of $31.11 and a 12-month high of $52.40. The company’s 50 day moving average price is $44.69 and its two-hundred day moving average price is $38.50. The firm has a market cap of $74.53 billion, a PE ratio of 21.03, a PEG ratio of 3.43 and a beta of 0.73. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36.

SLB (NYSE:SLB) last issued its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The business had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.54 billion. During the same period in the previous year, the company posted $0.92 earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts predict that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be given a $0.295 dividend. The ex-dividend date is Wednesday, February 11th. This is an increase from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.4%. SLB’s dividend payout ratio (DPR) is 49.79%.

About SLB

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.