Ceredex Value Advisors LLC Has $3.97 Million Position in SLB Limited $SLB

Ceredex Value Advisors LLC lessened its holdings in shares of SLB Limited (NYSE:SLB) by 91.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,462 shares of the oil and gas company’s stock after selling 1,237,011 shares during the period. Ceredex Value Advisors LLC’s holdings in SLB were worth $3,968,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its holdings in SLB by 21.4% during the 4th 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 during the period. Bison Wealth LLC acquired a new position in shares of SLB in the fourth quarter valued at approximately $238,000. Vestmark Advisory Solutions Inc. bought a new stake in shares of SLB during the second quarter worth $935,000. Penserra Capital Management LLC increased its position in shares of SLB by 69.4% during the second quarter. Penserra Capital Management LLC now owns 18,047 shares of the oil and gas company’s stock worth $609,000 after acquiring an additional 7,394 shares in the last quarter. Finally, AE Wealth Management LLC raised its holdings in shares of SLB by 73.6% during the second quarter. AE Wealth Management LLC now owns 37,836 shares of the oil and gas company’s stock worth $1,279,000 after acquiring an additional 16,040 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SLB has been the topic of several research reports. Piper Sandler boosted their price objective on shares of SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. TD Cowen lifted their price target on SLB from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Royal Bank Of Canada boosted their price target on SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Wall Street Zen raised SLB from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, Jefferies Financial Group lifted their target price on SLB from $51.00 to $58.00 and gave the company a “buy” rating in a research report on Sunday, February 1st. 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 given a Sell rating to the stock. Based on data from MarketBeat, SLB has an average rating of “Moderate Buy” and an average price target of $52.96.

SLB Stock Up 1.9%

Shares of SLB stock opened at $48.10 on Wednesday. The firm’s fifty day moving average price is $48.11 and its two-hundred day moving average price is $40.26. 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 1 year low of $31.11 and a 1 year high of $52.45. The firm has a market capitalization of $72.27 billion, a P/E ratio of 20.30, a PEG ratio of 3.21 and a beta of 0.68.

SLB (NYSE:SLB) last posted its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The company had revenue of $9.75 billion during 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%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 EPS. On average, equities analysts predict that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be paid a $0.295 dividend. This is a positive change from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, February 11th. SLB’s dividend payout ratio is 49.79%.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 4,000 shares of the firm’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $50.29, for a total value of $201,160.00. Following the completion of the transaction, the director directly owned 19,525 shares of the company’s stock, valued at approximately $981,912.25. This trade represents a 17.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 61,017 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer owned 155,548 shares in the company, valued at approximately $7,730,735.60. The trade was a 28.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 156,902 shares of company stock worth $7,796,666. Corporate insiders own 0.16% of the company’s stock.

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.