Copley Financial Group Inc. Decreases Holdings in SLB Limited $SLB

Copley Financial Group Inc. trimmed its stake in SLB Limited (NYSE:SLB) by 25.6% during the second quarter, Holdings Channel reports. The fund owned 9,858 shares of the oil and gas company’s stock after selling 3,385 shares during the period. Copley Financial Group Inc.’s holdings in SLB were worth $333,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of SLB. Atticus Wealth Management LLC purchased a new position in SLB in the second quarter valued at approximately $29,000. Atlas Capital Advisors Inc. bought a new stake in shares of SLB in the first quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of SLB by 55.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 350 shares during the period. NewSquare Capital LLC grew its stake in shares of SLB by 51.4% during the 2nd quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 341 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new stake in SLB in the 1st quarter worth about $40,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Stock Down 0.6%

Shares of NYSE SLB opened at $35.69 on Thursday. The firm’s fifty day moving average is $35.08 and its 200 day moving average is $34.87. SLB Limited has a 52 week low of $31.11 and a 52 week high of $44.66. The company has a market cap of $53.31 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 10.19 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 (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 analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. SLB’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 earnings per share. On average, equities research analysts expect that SLB Limited will post 3.38 earnings per share for the current year.

SLB Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Citigroup upped their price objective on shares of SLB from $46.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Rothschild & Co Redburn began coverage on shares of SLB in a research note on Monday, November 3rd. They set a “buy” rating and a $48.00 price target on the stock. Barclays lifted their price target on SLB from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Zacks Research raised shares of SLB from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Finally, Piper Sandler set a $42.00 target price on SLB and gave the stock an “overweight” rating in a research report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.28.

Insider Buying and Selling

In other news, CFO Stephane Biguet sold 38,447 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $36.75, for a total transaction of $1,412,927.25. Following the sale, the chief financial officer owned 175,690 shares in the company, valued at approximately $6,456,607.50. The trade was a 17.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the sale, the executive vice president directly owned 159,371 shares in the company, valued at $6,006,692.99. The trade was a 27.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 138,174 shares of company stock valued at $5,107,677 over the last three months. Corporate insiders own 0.22% of the company’s stock.

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.