Kempner Capital Management Inc. Sells 52,948 Shares of SLB Limited $SLB

Kempner Capital Management Inc. cut its holdings in SLB Limited (NYSE:SLB) by 48.4% during the third quarter, Holdings Channel reports. The firm owned 56,523 shares of the oil and gas company’s stock after selling 52,948 shares during the quarter. SLB makes up 1.6% of Kempner Capital Management Inc.’s portfolio, making the stock its 29th biggest holding. Kempner Capital Management Inc.’s holdings in SLB were worth $1,943,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SLB. Brighton Jones LLC lifted its holdings in shares of SLB by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after buying an additional 1,166 shares in the last quarter. Bison Wealth LLC bought a new stake in SLB in the 4th quarter valued at $238,000. Kestra Advisory Services LLC lifted its stake in SLB by 13.2% in the 1st quarter. Kestra Advisory Services LLC now owns 68,405 shares of the oil and gas company’s stock worth $2,859,000 after purchasing an additional 7,968 shares in the last quarter. Ieq Capital LLC lifted its stake in SLB by 33.1% in the 1st quarter. Ieq Capital LLC now owns 146,552 shares of the oil and gas company’s stock worth $6,126,000 after purchasing an additional 36,435 shares in the last quarter. Finally, CreativeOne Wealth LLC boosted its holdings in shares of SLB by 6.3% during the 1st quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock valued at $236,000 after purchasing an additional 335 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Peter John Coleman sold 5,500 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $35.82, for a total value of $197,010.00. Following the sale, the director directly owned 18,671 shares in the company, valued at approximately $668,795.22. This represents a 22.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 38,447 shares of the firm’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 value of $1,412,927.25. Following the sale, the chief financial officer directly owned 175,690 shares of the company’s stock, valued at $6,456,607.50. This represents a 17.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 103,947 shares of company stock valued at $3,871,337 in the last ninety days. 0.22% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SLB has been the topic of several research reports. Redburn Partners set a $48.00 target price on SLB in a report on Monday, November 3rd. TD Cowen lifted their price objective on SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Piper Sandler upped their price objective on SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Sanford C. Bernstein raised their target price on shares of SLB from $47.60 to $52.30 and gave the company an “outperform” rating in a report on Thursday, December 11th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, SLB currently has a consensus rating of “Moderate Buy” and an average target price of $52.42.

SLB Stock Performance

NYSE SLB opened at $37.78 on Friday. The company has a market cap of $56.43 billion, a P/E ratio of 14.59 and a beta of 0.73. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. The business’s 50 day moving average price is $36.89 and its 200-day moving average price is $35.44. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $44.66.

SLB (NYSE:SLB) last issued 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. SLB had a return on equity of 18.97% and a net margin of 10.34%.The company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.99 billion. During the same period last year, the company earned $0.89 earnings per share. SLB’s revenue was down 2.5% on a year-over-year basis. Sell-side analysts predict that SLB Limited will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.0%. The ex-dividend date is Wednesday, December 3rd. SLB’s dividend payout ratio is presently 44.02%.

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.