Capital International Ltd. CA Sells 97,709 Shares of SLB Limited $SLB

Capital International Ltd. CA cut its stake in SLB Limited (NYSE:SLB) by 45.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118,948 shares of the oil and gas company’s stock after selling 97,709 shares during the period. Capital International Ltd. CA’s holdings in SLB were worth $4,088,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC bought a new position in shares of SLB during the second quarter worth $25,000. Root Financial Partners LLC acquired a new position in shares of SLB during the 3rd quarter worth about $29,000. Corsicana & Co. acquired a new position in SLB during the third quarter valued at approximately $31,000. Strengthening Families & Communities LLC acquired a new position in shares of SLB during the 3rd quarter worth approximately $31,000. Finally, SouthState Bank Corp boosted its holdings in shares of SLB by 57.4% in the 3rd quarter. SouthState Bank Corp now owns 1,212 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 442 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

SLB Stock Performance

Shares of SLB opened at $47.24 on Tuesday. The stock has a 50 day moving average of $47.92 and a 200 day moving average of $40.17. The company has a market capitalization of $70.97 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 3.19 and a beta of 0.68. SLB Limited has a 12 month low of $31.11 and a 12 month high of $52.45. 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 (NYSE:SLB) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $9.54 billion. SLB had a return on equity of 17.45% and a net margin of 9.45%.The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. As a group, sell-side analysts forecast that SLB Limited will post 3.38 earnings per share for the current 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 dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from SLB’s previous quarterly dividend of $0.29. SLB’s payout ratio is currently 49.79%.

Analyst Ratings Changes

SLB has been the subject of a number of research reports. Stifel Nicolaus set a $56.00 target price on shares of SLB in a research note on Monday, January 26th. The Goldman Sachs Group upped their target price on SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Jefferies Financial Group lifted their target price on shares of SLB from $51.00 to $58.00 and gave the stock a “buy” rating in a research report on Sunday, February 1st. Barclays increased their price target on SLB from $47.00 to $49.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Finally, Argus raised shares of SLB to a “strong-buy” rating in a research note on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.96.

Insider Activity at SLB

In other SLB news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $2,982,000.00. Following the transaction, the executive vice president directly owned 140,602 shares in the company, valued at $6,987,919.40. This represents a 29.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director La Chevardiere Patrick De sold 4,000 shares of SLB stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $50.29, for a total value of $201,160.00. Following the sale, 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 SEC filing for this sale provides additional information. Insiders have sold a total of 156,902 shares of company stock worth $7,796,666 over the last 90 days. Corporate insiders own 0.16% of the company’s stock.

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.