Spire Wealth Management Lowers Stake in SLB Limited $SLB

Spire Wealth Management lowered its stake in shares of SLB Limited (NYSE:SLB) by 82.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,457 shares of the oil and gas company’s stock after selling 54,109 shares during the period. Spire Wealth Management’s holdings in SLB were worth $387,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Legacy Wealth Asset Management LLC lifted 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 during the period. 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 worth $307,000 after buying an additional 316 shares during the period. 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 worth $946,000 after buying an additional 330 shares during the period. 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 worth $236,000 after buying an additional 335 shares during the period. 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 worth $266,000 after buying an additional 350 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SLB shares. Wells Fargo & Company lowered SLB from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 20th. UBS Group reiterated a “buy” rating and set a $44.00 price objective on shares of SLB in a report on Tuesday, October 21st. Piper Sandler set a $42.00 price objective on SLB and gave the company an “overweight” rating in a report on Monday, October 20th. Stifel Nicolaus decreased their price objective on SLB from $54.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. decreased their price objective on SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Two investment 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 stock. According to MarketBeat.com, SLB presently has an average rating of “Moderate Buy” and a consensus price target of $51.69.

SLB Price Performance

Shares of SLB opened at $36.06 on Monday. The business’s 50-day moving average is $34.90 and its two-hundred day moving average is $34.62. The company has a market capitalization 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. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week 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 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. The company had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.99 billion. SLB had a return on equity of 18.97% and a net margin of 10.34%.The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the firm earned $0.89 EPS. Research analysts predict that SLB Limited will post 3.38 earnings per share for the current year.

SLB Announces Dividend

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 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 of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio (DPR) is currently 44.02%.

Insiders Place Their Bets

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

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.