SLB Limited $SLB Shares Sold by Park National Corp OH

Park National Corp OH trimmed its holdings in SLB Limited (NYSE:SLB) by 6.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 258,112 shares of the oil and gas company’s stock after selling 18,049 shares during the quarter. Park National Corp OH’s holdings in SLB were worth $9,906,000 at the end of the most recent reporting period.

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

SLB Trading Up 5.6%

Shares of SLB stock opened at $47.84 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98. The company has a market cap of $71.88 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 3.22 and a beta of 0.68. The stock has a 50 day simple moving average of $48.72 and a 200-day simple moving average of $40.68. SLB Limited has a 1-year low of $31.11 and a 1-year high of $52.45.

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

SLB Increases Dividend

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

Insider Buying and Selling at SLB

In other news, 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 owned 140,602 shares of the company’s stock, valued at $6,987,919.40. The trade was a 29.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director La Chevardiere Patrick De sold 4,000 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $50.29, for a total transaction of $201,160.00. Following the transaction, the director owned 19,525 shares of the company’s stock, valued at approximately $981,912.25. This trade represents a 17.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 156,902 shares of company stock valued at $7,796,666. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SLB. BMO Capital Markets raised their price objective on shares of SLB from $53.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Bank of America boosted 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. Stifel Nicolaus set a $56.00 price target on shares of SLB in a report on Monday, January 26th. Morgan Stanley restated an “overweight” rating and set a $50.00 price target on shares of SLB in a research report on Wednesday, January 21st. Finally, Susquehanna lifted their price objective on shares of SLB from $52.00 to $58.00 and gave the company a “positive” rating in a report on Monday, January 26th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.