AlTi Global Inc. Sells 946 Shares of SLB Limited $SLB

AlTi Global Inc. trimmed its position in SLB Limited (NYSE:SLB) by 2.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 35,378 shares of the oil and gas company’s stock after selling 946 shares during the period. AlTi Global Inc.’s holdings in SLB were worth $1,287,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in SLB. Brighton Jones LLC raised its holdings in SLB by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after purchasing an additional 1,166 shares during the last quarter. Bison Wealth LLC bought a new position in shares of SLB in the 4th quarter valued at about $238,000. GAMMA Investing LLC boosted its stake in shares of SLB by 45.5% in the 1st quarter. GAMMA Investing LLC now owns 21,671 shares of the oil and gas company’s stock valued at $906,000 after purchasing an additional 6,778 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of SLB by 6.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 132,533 shares of the oil and gas company’s stock valued at $5,540,000 after purchasing an additional 8,060 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of SLB in the 1st quarter valued at about $201,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Barclays raised their target price on shares of SLB from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday. Susquehanna reduced their target price on SLB from $44.00 to $42.00 and set a “positive” rating on the stock in a report on Monday, July 21st. Citigroup raised their target price on SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday. Weiss Ratings restated a “hold (c-)” rating on shares of SLB in a report on Friday. Finally, Stifel Nicolaus reduced their target price on SLB from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Two equities research 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, SLB presently has a consensus rating of “Moderate Buy” and an average price target of $51.69.

SLB Trading Down 0.5%

NYSE SLB opened at $35.84 on Friday. The firm has a market cap of $53.54 billion, a P/E ratio of 13.84, a P/E/G ratio of 9.96 and a beta of 0.97. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. The stock’s 50-day moving average is $34.66 and its 200-day moving average is $34.53. SLB Limited has a one year low of $31.11 and a one year high of $44.97.

SLB (NYSE:SLB) last released its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. SLB had a return on equity of 18.97% and a net margin of 10.34%.SLB’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 earnings per share. Sell-side analysts anticipate that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. SLB’s dividend payout ratio (DPR) is currently 44.02%.

Insider Activity at SLB

In other news, insider Dianne B. Ralston sold 39,727 shares of the firm’s 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 owned 202,201 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

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.