Cullen Frost Bankers Inc. Sells 3,829 Shares of SLB Limited $SLB

Cullen Frost Bankers Inc. lowered its stake in SLB Limited (NYSE:SLB) by 19.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,794 shares of the oil and gas company’s stock after selling 3,829 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in SLB were worth $534,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SLB. First Command Advisory Services Inc. raised its holdings in shares of SLB by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 477 shares in the last quarter. Atticus Wealth Management LLC purchased a new stake in shares of SLB in the 2nd quarter valued at about $29,000. Atlas Capital Advisors Inc. purchased a new stake in shares of SLB in the 1st quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of SLB by 55.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 350 shares in the last quarter. Finally, Alpine Bank Wealth Management purchased a new stake in shares of SLB in the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

Shares of NYSE SLB opened at $35.84 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. The stock’s 50-day moving average is $34.66 and its 200 day moving average is $34.53. The stock has a market cap of $53.54 billion, a price-to-earnings ratio of 13.84, a P/E/G ratio of 9.96 and a beta of 0.97. SLB Limited has a 1-year low of $31.11 and a 1-year high of $44.97.

SLB (NYSE:SLB) last announced its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.99 billion. SLB had a return on equity of 18.97% and a net margin of 10.34%.The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 EPS. On average, sell-side analysts anticipate that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s payout ratio is 44.02%.

Wall Street Analyst Weigh In

Several analysts have weighed in on SLB shares. Wells Fargo & Company cut SLB from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 20th. Citigroup raised their price target on SLB from $46.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday. Stifel Nicolaus decreased their price objective on SLB from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Piper Sandler set a $42.00 price objective on SLB and gave the company an “overweight” rating in a report on Monday. Finally, JPMorgan Chase & Co. decreased their price objective on SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.69.

Insider Buying and Selling

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the transaction, the insider directly owned 202,201 shares of the company’s stock, valued at $7,295,412.08. The trade was a 16.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is owned by company insiders.

SLB Company Profile

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.