SLB Limited $SLB Stake Reduced by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its holdings in SLB Limited (NYSE:SLB) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 347,495 shares of the oil and gas company’s stock after selling 10,778 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in SLB were worth $13,337,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of SLB. Strategic Wealth Advisors LLC bought a new position in shares of SLB in the fourth quarter worth $30,000. Strengthening Families & Communities LLC bought a new position in shares of SLB in the third quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of SLB in the fourth quarter worth $31,000. Steph & Co. grew its stake in shares of SLB by 97.5% in the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 394 shares in the last quarter. Finally, Lloyd Advisory Services LLC. bought a new position in shares of SLB in the fourth quarter worth $31,000. Institutional investors own 81.99% of the company’s stock.

SLB Stock Up 0.4%

NYSE:SLB opened at $54.78 on Tuesday. The firm has a market capitalization of $81.91 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 2.21 and a beta of 0.72. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. The business’s fifty day moving average price is $53.66 and its 200 day moving average price is $47.32.

SLB (NYSE:SLB) last issued its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The company had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. During the same quarter last year, the business posted $0.72 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, sell-side analysts forecast that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s dividend payout ratio is presently 51.53%.

Insider Activity

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the transaction, the director directly owned 16,953 shares of the company’s stock, valued at $921,056.49. This represents a 10.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the transaction, the executive vice president directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SLB. Piper Sandler increased their price target on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Jefferies Financial Group restated a “buy” rating and issued a $65.00 price objective on shares of SLB in a report on Sunday, April 26th. Wall Street Zen lowered SLB from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. BMO Capital Markets upped their price objective on SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Finally, UBS Group upped their price objective on SLB from $61.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $59.74.

SLB 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.