SLB Limited $SLB Shares Sold by Vinva Investment Management Ltd

Vinva Investment Management Ltd reduced its holdings in shares of SLB Limited (NYSE:SLB) by 18.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 70,532 shares of the oil and gas company’s stock after selling 16,195 shares during the period. Vinva Investment Management Ltd’s holdings in SLB were worth $2,476,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SLB. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of SLB in the second quarter valued at about $25,000. Root Financial Partners LLC purchased a new position in shares of SLB during the 3rd quarter worth approximately $29,000. Corsicana & Co. purchased a new position in shares of SLB during the 3rd quarter worth approximately $31,000. Strengthening Families & Communities LLC acquired a new position in shares of SLB during the 3rd quarter worth approximately $31,000. Finally, SouthState Bank Corp raised its position in shares of SLB by 57.4% during the 3rd quarter. SouthState Bank Corp now owns 1,212 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 442 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Transactions at SLB

In other SLB news, CFO Stephane Biguet sold 61,017 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $3,032,544.90. Following the completion of the sale, the chief financial officer owned 155,548 shares of the company’s stock, valued at approximately $7,730,735.60. The trade was a 28.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Howard Guild sold 13,268 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $659,419.60. Following the sale, the chief accounting officer owned 22,407 shares of the company’s stock, valued at $1,113,627.90. This represents a 37.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 156,902 shares of company stock valued at $7,796,666 in the last ninety days. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SLB shares. Freedom Capital cut SLB from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Royal Bank Of Canada boosted their price target on SLB from $51.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Stifel Nicolaus set a $56.00 price objective on SLB in a research report on Monday, January 26th. Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 price objective on shares of SLB in a research note on Wednesday, January 21st. Finally, Citigroup lifted their price objective on SLB from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.96.

SLB Price Performance

SLB stock opened at $47.24 on Tuesday. SLB Limited has a 1 year low of $31.11 and a 1 year high of $52.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33. The firm has a 50 day moving average price of $47.92 and a 200 day moving average price of $40.17. The company has a market cap of $70.97 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 3.19 and a beta of 0.68.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The company had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.54 billion. SLB had a net margin of 9.45% and a return on equity of 17.45%. SLB’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 earnings per share. Sell-side analysts predict that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The company also recently announced 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. This is an increase from SLB’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. SLB’s dividend payout ratio is 49.79%.

SLB Company 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.