CWA Asset Management Group LLC Sells 13,360 Shares of SLB Limited $SLB

CWA Asset Management Group LLC decreased its stake in shares of SLB Limited (NYSE:SLB) by 7.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 165,145 shares of the oil and gas company’s stock after selling 13,360 shares during the quarter. CWA Asset Management Group LLC’s holdings in SLB were worth $6,338,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC bought a new position in shares of SLB in the second quarter valued at $25,000. Root Financial Partners LLC bought a new stake in SLB during the third quarter worth $29,000. Corsicana & Co. acquired a new stake in SLB in the third quarter valued at $31,000. Strengthening Families & Communities LLC bought a new position in shares of SLB in the 3rd quarter valued at about $31,000. Finally, SouthState Bank Corp increased its stake 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.

SLB Price Performance

SLB stock opened at $46.61 on Friday. The company has a market capitalization of $70.03 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 3.40 and a beta of 0.68. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. SLB Limited has a 12 month low of $31.11 and a 12 month high of $52.45. The stock’s 50 day moving average is $48.74 and its 200-day moving average is $40.75.

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

SLB Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be issued a dividend of $0.295 per share. 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 2.5%. The ex-dividend date of this dividend is Wednesday, February 11th. SLB’s payout ratio is 49.79%.

Insider Buying and Selling

In other SLB news, CFO Stephane Biguet sold 61,017 shares of SLB stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $3,032,544.90. Following the completion of the sale, the chief financial officer owned 155,548 shares in the company, valued at $7,730,735.60. The trade was a 28.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the completion of the sale, the executive vice president directly owned 140,602 shares of the company’s stock, valued at $6,987,919.40. This represents a 29.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 156,902 shares of company stock valued at $7,796,666 in the last 90 days. 0.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Susquehanna upped their target price on shares of SLB from $52.00 to $58.00 and gave the company a “positive” rating in a report on Monday, January 26th. Morgan Stanley reissued an “overweight” rating and set a $50.00 price target on shares of SLB in a research report on Wednesday, January 21st. TD Cowen raised their price objective on SLB from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Freedom Capital downgraded SLB from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Finally, The Goldman Sachs Group boosted their target price on SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.16.

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.