DAVENPORT & Co LLC Sells 83,796 Shares of SLB Limited $SLB

DAVENPORT & Co LLC trimmed its position in SLB Limited (NYSE:SLB) by 3.3% during the third quarter, Holdings Channel reports. The institutional investor owned 2,434,206 shares of the oil and gas company’s stock after selling 83,796 shares during the quarter. DAVENPORT & Co LLC’s holdings in SLB were worth $84,161,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hedges Asset Management LLC lifted its stake in shares of SLB by 0.9% during the third quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock valued at $1,203,000 after acquiring an additional 300 shares during the period. Legacy Wealth Asset Management LLC raised its holdings in SLB by 2.2% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock worth $486,000 after purchasing an additional 308 shares during the last quarter. CreativeOne Wealth LLC lifted its position in SLB by 6.3% during 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. NewSquare Capital LLC boosted its stake in shares of SLB by 51.4% in the 2nd quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 341 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position 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 buying an additional 350 shares during the period. Institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

SLB stock opened at $38.17 on Wednesday. SLB Limited has a 1-year low of $31.11 and a 1-year high of $44.66. 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 firm has a market cap of $57.03 billion, a PE ratio of 14.74 and a beta of 0.73. The business’s 50-day moving average price is $36.58 and its two-hundred day moving average price is $35.38.

SLB (NYSE:SLB) last announced its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.99 billion. During the same period in the prior year, the company earned $0.89 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, research analysts forecast that SLB Limited will post 3.38 earnings per share for the current year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.0%. The ex-dividend date is Wednesday, December 3rd. SLB’s dividend payout ratio (DPR) is 44.02%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Redburn Partners set a $48.00 price objective on shares of SLB in a research note on Monday, November 3rd. Sanford C. Bernstein raised their price target on SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. Citigroup upped their price objective on SLB from $47.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Rothschild & Co Redburn assumed coverage on SLB in a research note on Monday, November 3rd. They issued a “buy” rating and a $48.00 target price on the stock. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $52.42.

Insider Buying and Selling at SLB

In other news, CFO Stephane Biguet sold 38,447 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $36.75, for a total value of $1,412,927.25. Following the completion of the transaction, the chief financial officer owned 175,690 shares in the company, valued at $6,456,607.50. This represents a 17.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $6,006,692.99. This represents a 27.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 103,947 shares of company stock valued at $3,871,337. 0.22% of the stock is currently owned by corporate insiders.

Key SLB News

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB won a five‑year, multi‑billion-dollar contract from Saudi Aramco to provide stimulation, well intervention, frac automation and digital solutions for the kingdom’s unconventional gas program — a meaningful, long‑duration revenue stream and strategic win in a major growth market. Aramco Awards SLB Long-Term Contract to Support Kingdom’s Unconventional Gas Production Growth
• Positive Sentiment: Wall Street support remains constructive: UBS reiterated a Buy on SLB with a $50 price target, highlighting execution, international/offshore upside and digital growth as re‑rating catalysts. Maintaining Buy on Schlumberger
• Positive Sentiment: BMO reiterated a Buy on SLB, citing digital‑led margin strength and international growth upside — additional analyst backing that supports medium‑term upside. Schlumberger: Digital-Led Margin Strength, International Growth, and Undervalued Upside Support Buy Rating
• Positive Sentiment: Unusually large call option activity — ~72,848 calls traded (≈+167% vs average) — signals short‑term bullish positioning by derivatives traders, which can precede upside moves in the stock.
• Neutral Sentiment: Analysts and commentary are revisiting SLB’s valuation after a steady share rebound; some pieces argue upside remains given fundamentals, while valuation comparisons temper immediate conviction. Revisiting Schlumberger’s (SLB) Valuation After Its Recent Steady Share Price Rebound
• Neutral Sentiment: Zacks ran a broader piece on analyst sentiment toward SLB — coverage that can influence flows but doesn’t present new company‑specific catalysts. Is SLB (SLB) a Buy as Wall Street Analysts Look Optimistic?

SLB 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.