Thrivent Financial for Lutherans Has $1.98 Million Stake in SLB Limited $SLB

Thrivent Financial for Lutherans cut its holdings in shares of SLB Limited (NYSE:SLB) by 44.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,480 shares of the oil and gas company’s stock after selling 46,261 shares during the quarter. Thrivent Financial for Lutherans’ holdings in SLB were worth $1,976,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SLB. Twin Peaks Wealth Advisors LLC acquired a new position in shares of SLB in the second quarter valued at $25,000. Root Financial Partners LLC bought a new stake in shares of SLB during the 3rd quarter worth about $29,000. Corsicana & Co. acquired a new position in SLB in the 3rd quarter valued at about $31,000. NewSquare Capital LLC raised its holdings in SLB by 51.4% in the 2nd quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 341 shares during the period. Finally, Kennebec Savings Bank raised its holdings in SLB by 47.4% in the 3rd quarter. Kennebec Savings Bank now owns 1,390 shares of the oil and gas company’s stock valued at $48,000 after acquiring an additional 447 shares during the period. Institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of recent research reports. Susquehanna boosted their target price on shares of SLB from $52.00 to $58.00 and gave the company a “positive” rating in a research report on Monday, January 26th. The Goldman Sachs Group reiterated a “buy” rating and issued a $49.00 price objective on shares of SLB in a research note on Wednesday, January 14th. 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 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 stock an “outperform” rating in a report on Thursday, December 11th. Finally, Rothschild & Co Redburn set a $48.00 price target on shares of SLB in a research report on Monday, November 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and a consensus target price of $52.38.

SLB Stock Performance

NYSE SLB opened at $51.61 on Thursday. The firm’s 50 day simple moving average is $43.73 and its 200 day simple moving average is $38.03. The firm has a market capitalization of $77.17 billion, a price-to-earnings ratio of 21.78, a P/E/G ratio of 3.42 and a beta of 0.73. 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 $51.99.

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

SLB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, February 11th. This is a positive change from SLB’s previous quarterly dividend of $0.29. SLB’s payout ratio is currently 48.10%.

Insider Transactions at SLB

In other SLB news, Director La Chevardiere Patrick De sold 4,000 shares of the business’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $50.29, for a total transaction of $201,160.00. Following the sale, the director owned 19,525 shares of the company’s stock, valued at approximately $981,912.25. The trade was a 17.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 61,017 shares of the stock in a transaction on Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $3,032,544.90. Following the completion of the transaction, the chief financial officer owned 155,548 shares of the company’s stock, valued at $7,730,735.60. The trade was a 28.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 162,402 shares of company stock valued at $7,993,676. Corporate insiders own 0.22% 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.