Mutual Advisors LLC Has $287,000 Stock Holdings in SLB Limited $SLB

Mutual Advisors LLC cut its stake in SLB Limited (NYSE:SLB) by 21.8% during the second quarter, HoldingsChannel reports. The fund owned 8,099 shares of the oil and gas company’s stock after selling 2,260 shares during the quarter. Mutual Advisors LLC’s holdings in SLB were worth $287,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SLB. First Command Advisory Services Inc. increased its position in SLB by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after buying an additional 477 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new position in SLB during the first quarter worth $33,000. Alpine Bank Wealth Management acquired a new position in SLB during the first quarter worth $34,000. Atticus Wealth Management LLC acquired a new position in SLB during the second quarter worth $29,000. Finally, Park Square Financial Group LLC acquired a new position in SLB during the first quarter worth $38,000. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Stock Up 0.2%

SLB stock opened at $33.51 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. SLB Limited has a 52-week low of $31.11 and a 52-week high of $44.97. The company has a 50-day moving average of $34.52 and a two-hundred day moving average of $34.48. The stock has a market capitalization of $50.05 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 9.35 and a beta of 0.97.

SLB (NYSE:SLB) last released its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.02. SLB had a net margin of 10.34% and a return on equity of 18.97%. The business had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.99 billion. During the same quarter last year, the company earned $0.89 earnings per share. The firm’s revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, December 3rd. SLB’s dividend payout ratio (DPR) is presently 44.02%.

Insider Buying and Selling at SLB

In related news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the topic of several analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their target price on shares of SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Monday. Piper Sandler set a $42.00 target price on shares of SLB and gave the stock an “overweight” rating in a research report on Monday. Atb Cap Markets upgraded shares of SLB from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. Finally, Citigroup upped their price target on shares of SLB from $46.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.69.

About SLB

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.