Cary Street Partners Financial LLC Sells 108,574 Shares of SLB Limited $SLB

Cary Street Partners Financial LLC lessened its position in SLB Limited (NYSE:SLB) by 97.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,879 shares of the oil and gas company’s stock after selling 108,574 shares during the quarter. Cary Street Partners Financial LLC’s holdings in SLB were worth $134,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Abel Hall LLC increased its position in SLB by 2.7% in the first quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock worth $387,000 after buying an additional 198 shares in the last quarter. Private Wealth Asset Management LLC grew its stake in SLB by 4.1% during the fourth quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock valued at $193,000 after acquiring an additional 200 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of SLB by 9.3% in the first quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock worth $129,000 after purchasing an additional 214 shares during the last quarter. Ballentine Partners LLC increased its position in SLB by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock worth $395,000 after purchasing an additional 218 shares during the last quarter. Finally, Davis Capital Management lifted its holdings in shares of SLB by 1.0% in the 1st quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company’s stock valued at $1,129,000 after acquiring an additional 220 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of recent analyst reports. Citigroup reduced their target price on SLB from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. UBS Group dropped their target price on SLB from $69.00 to $66.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Susquehanna lifted their target price on shares of SLB from $55.00 to $62.00 and gave the company a “positive” rating in a research report on Monday, July 27th. TD Cowen lifted their price objective on SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Finally, BMO Capital Markets upped their price target on SLB from $59.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, SLB has an average rating of “Moderate Buy” and an average target price of $61.35.

SLB Stock Performance

Shares of SLB opened at $53.77 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82. The company’s 50 day simple moving average is $49.52 and its 200-day simple moving average is $51.08. The firm has a market cap of $79.80 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 3.44 and a beta of 0.73.

SLB (NYSE:SLB) last issued its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. SLB had a return on equity of 14.05% and a net margin of 8.53%.The company had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same period in the previous year, the firm posted $0.74 EPS. SLB’s revenue was up 5.0% on a year-over-year basis. As a group, equities analysts predict that SLB Limited will post 2.5 EPS for the current year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.2%. SLB’s dividend payout ratio is currently 57.00%.

SLB Company Profile

SLB (NYSE: SLB), historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB’s product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.