Bessemer Group Inc. Lowers Stock Position in SLB Limited $SLB

Bessemer Group Inc. cut its position in shares of SLB Limited (NYSE:SLB) by 0.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,518,081 shares of the oil and gas company’s stock after selling 18,077 shares during the period. Bessemer Group Inc. owned 0.48% of SLB worth $220,313,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Legacy Wealth Asset Management LLC boosted its holdings in SLB by 2.2% during the second quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock worth $486,000 after buying an additional 308 shares in the last quarter. EntryPoint Capital LLC lifted its holdings in SLB by 4.5% during the first quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock valued at $307,000 after purchasing an additional 316 shares in the last quarter. Horizon Investments LLC lifted its holdings in SLB by 1.5% during the first quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock valued at $946,000 after purchasing an additional 330 shares in the last quarter. CreativeOne Wealth LLC lifted its holdings in SLB by 6.3% during the first quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock valued at $236,000 after purchasing an additional 335 shares in the last quarter. Finally, Forza Wealth Management LLC lifted its holdings in SLB by 5.8% during the first quarter. Forza Wealth Management LLC now owns 6,374 shares of the oil and gas company’s stock valued at $266,000 after purchasing an additional 350 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SLB

In related news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the sale, the insider directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

SLB has been the topic of several recent analyst reports. Barclays increased their price objective on shares of SLB from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Melius initiated coverage on shares of SLB in a report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on shares of SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Zacks Research raised shares of SLB from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Finally, Stifel Nicolaus decreased their price objective on shares of SLB from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.69.

SLB Price Performance

Shares of NYSE SLB opened at $35.84 on Monday. The firm has a 50-day simple moving average of $34.66 and a 200-day simple moving average of $34.54. The stock has a market capitalization of $53.55 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 9.92 and a beta of 0.97. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. SLB Limited has a 52 week low of $31.11 and a 52 week high of $44.97.

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

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, December 3rd. SLB’s dividend payout ratio (DPR) is presently 44.02%.

SLB 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.