Ashton Thomas Private Wealth LLC Cuts Position in SLB Limited $SLB

Ashton Thomas Private Wealth LLC reduced its position in shares of SLB Limited (NYSE:SLB) by 20.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 13,700 shares of the oil and gas company’s stock after selling 3,617 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in SLB were worth $467,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of SLB by 478.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock valued at $1,994,674,000 after buying an additional 39,474,501 shares during the period. Boston Partners grew its position in SLB by 27.7% in the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock valued at $824,160,000 after acquiring an additional 4,300,222 shares in the last quarter. Northern Trust Corp grew its position in SLB by 4.4% in the 1st quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock valued at $602,860,000 after acquiring an additional 604,832 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in SLB by 22.8% during the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company’s stock worth $375,738,000 after purchasing an additional 1,667,203 shares during the period. Finally, Invesco Ltd. lifted its position in shares of SLB by 3.8% during the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company’s stock worth $320,154,000 after purchasing an additional 281,937 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction on 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 transaction, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.22% of the company’s stock.

SLB Trading Down 0.7%

NYSE:SLB opened at $36.06 on Friday. SLB Limited has a 1 year low of $31.11 and a 1 year high of $44.97. The stock has a market cap of $53.87 billion, a P/E ratio of 13.92, a P/E/G ratio of 10.19 and a beta of 0.97. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. The stock has a 50-day simple moving average of $34.90 and a 200-day simple moving average of $34.61.

SLB (NYSE:SLB) last posted its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. The firm had revenue of $8.93 billion during 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 firm’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 earnings per share. As a group, analysts anticipate that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders 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 dividend yield of 3.2%. The ex-dividend date is Wednesday, December 3rd. SLB’s payout ratio is currently 44.02%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wells Fargo & Company lowered shares of SLB from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. Barclays increased their target price on shares of SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Piper Sandler set a $42.00 price objective on SLB and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, UBS Group reiterated a “buy” rating and issued a $44.00 price objective on shares of SLB in a research note on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.