Atlantic Union Bankshares Corp Sells 1,411 Shares of SLB Limited $SLB

Atlantic Union Bankshares Corp lessened its stake in SLB Limited (NYSE:SLB) by 25.7% in the second quarter, HoldingsChannel reports. The fund owned 4,083 shares of the oil and gas company’s stock after selling 1,411 shares during the period. Atlantic Union Bankshares Corp’s holdings in SLB were worth $138,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Wealth Asset Management LLC boosted its stake in shares of 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 valued at $486,000 after purchasing an additional 308 shares during the period. EntryPoint Capital LLC increased its position in shares of 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 buying an additional 316 shares during the period. Horizon Investments LLC raised its stake in SLB by 1.5% in 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 in the last quarter. CreativeOne Wealth LLC lifted its stake in shares of SLB by 6.3% in the 1st 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 during the period. Finally, NewSquare Capital LLC lifted its position in SLB by 51.4% during the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 341 shares during the period. 81.99% of the stock is currently owned by institutional investors.

SLB Stock Up 0.8%

Shares of NYSE:SLB opened at $36.65 on Monday. The company has a market cap of $54.75 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 10.19 and a beta of 0.97. SLB Limited has a 12 month low of $31.11 and a 12 month high of $44.97. 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 company has a 50-day moving average price of $34.95 and a 200 day moving average price of $34.69.

SLB (NYSE:SLB) last issued its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The business 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 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 posted $0.89 earnings per share. As a group, equities research analysts predict that SLB Limited will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a yield of 3.1%. SLB’s dividend payout ratio (DPR) is presently 44.02%.

Insider Activity at SLB

In other news, insider Dianne B. Ralston sold 39,727 shares of the 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 sale, the insider directly owned 202,201 shares in the company, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

SLB has been the topic of several analyst reports. Piper Sandler set a $42.00 target price on SLB and gave the stock an “overweight” rating in a report on Monday, October 20th. Rothschild & Co Redburn began coverage on shares of SLB in a research report on Monday, November 3rd. They set a “buy” rating and a $48.00 price objective on the stock. Citigroup raised their target price on SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Wells Fargo & Company lowered SLB from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. Finally, Melius assumed coverage on shares of SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.28.

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.