SLB Limited $SLB Stock Bought by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC boosted its position in SLB Limited (NYSE:SLB) by 7,779.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 20,487 shares of the oil and gas company’s stock after purchasing an additional 20,227 shares during the period. Provenance Wealth Advisors LLC’s holdings in SLB were worth $998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Saudi Central Bank increased its position in shares of SLB by 90.6% during the second quarter. Saudi Central Bank now owns 105,079 shares of the oil and gas company’s stock valued at $4,885,000 after buying an additional 49,937 shares during the period. State Street Corp boosted its holdings in SLB by 0.8% in the 2nd quarter. State Street Corp now owns 91,222,641 shares of the oil and gas company’s stock valued at $4,267,269,000 after purchasing an additional 722,060 shares during the period. Bank of America Corp DE increased its holdings in shares of SLB by 11.1% in the first quarter. Bank of America Corp DE now owns 10,536,104 shares of the oil and gas company’s stock worth $541,450,000 after purchasing an additional 1,052,239 shares during the period. Nan Shan Life Insurance Co. Ltd. raised its position in shares of SLB by 513.8% in the second quarter. Nan Shan Life Insurance Co. Ltd. now owns 736,544 shares of the oil and gas company’s stock worth $34,242,000 after buying an additional 616,544 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in SLB by 2.4% during the second quarter. Canada Pension Plan Investment Board now owns 2,269,354 shares of the oil and gas company’s stock valued at $105,502,000 after buying an additional 53,224 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Price Performance

Shares of NYSE:SLB opened at $51.44 on Thursday. SLB Limited has a fifty-two week low of $34.65 and a fifty-two week high of $60.46. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.39. The business has a 50-day simple moving average of $52.39 and a two-hundred day simple moving average of $51.45. The firm has a market cap of $75.92 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 2.89 and a beta of 0.80.

SLB (NYSE:SLB) last posted its quarterly earnings data on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. SLB had a net margin of 8.40% and a return on equity of 13.77%. The company had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter last year, the firm posted $0.69 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, analysts expect that SLB Limited will post 2.46 earnings per share for the current year.

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 2nd will be given a $0.2950 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $1.18 dividend on an annualized basis and a yield of 2.3%. SLB’s dividend payout ratio (DPR) is currently 57.28%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Rothschild & Co Redburn upped their price objective on shares of SLB from $66.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, September 25th. Evercore increased their price objective on SLB from $63.00 to $66.00 in a research note on Thursday, October 8th. Citigroup reduced their price target on SLB from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, October 19th. Wolfe Research began coverage on shares of SLB in a report on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price objective for the company. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of SLB in a research report on Tuesday, September 1st. Twenty-four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, SLB currently has an average rating of “Moderate Buy” and a consensus target price of $61.52.

Insider Activity at SLB

In other news, insider Dianne Ralston sold 20,986 shares of the company’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $53.57, for a total value of $1,124,220.02. Following the transaction, the insider directly owned 205,053 shares in the company, valued at approximately $10,984,689.21. This represents a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Howard Guild sold 10,047 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $53.65, for a total transaction of $539,021.55. Following the completion of the transaction, the chief accounting officer directly owned 12,845 shares of the company’s stock, valued at $689,134.25. This trade represents a 43.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by insiders.

SLB Company Profile

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.