BNP Paribas Sells 108,633 Shares of SLB Limited $SLB

BNP Paribas decreased its holdings in SLB Limited (NYSE:SLB) by 77.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 32,245 shares of the oil and gas company’s stock after selling 108,633 shares during the period. BNP Paribas’ holdings in SLB were worth $1,109,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC bought a new stake in SLB in the second quarter valued at about $25,000. Root Financial Partners LLC acquired a new position in SLB in the third quarter worth about $29,000. Corsicana & Co. bought a new position in SLB during the third quarter worth about $31,000. Strengthening Families & Communities LLC acquired a new stake in SLB during the third quarter valued at approximately $31,000. Finally, SouthState Bank Corp boosted its holdings in SLB by 57.4% during the third quarter. SouthState Bank Corp now owns 1,212 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 442 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Activity at SLB

In other news, insider Dianne B. Ralston sold 18,617 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.50, for a total value of $921,541.50. Following the completion of the sale, the insider directly owned 224,097 shares in the company, valued at approximately $11,092,801.50. This trade represents a 7.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director La Chevardiere Patrick De sold 4,000 shares of SLB stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $50.29, for a total value of $201,160.00. Following the completion of the transaction, the director directly owned 19,525 shares of the company’s stock, valued at $981,912.25. This represents a 17.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 156,902 shares of company stock valued at $7,796,666. 0.16% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Loop Capital set a $48.00 target price on SLB in a report on Tuesday, January 27th. Royal Bank Of Canada boosted their price target on SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Argus upgraded SLB to a “strong-buy” rating in a research report on Monday, January 26th. Jefferies Financial Group increased their price objective on SLB from $51.00 to $58.00 and gave the stock a “buy” rating in a research note on Sunday, February 1st. Finally, BMO Capital Markets lifted their price objective on SLB from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, SLB has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

SLB Stock Performance

NYSE:SLB opened at $44.72 on Monday. The stock has a market capitalization of $67.19 billion, a P/E ratio of 18.87, a price-to-earnings-growth ratio of 3.12 and a beta of 0.68. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. SLB Limited has a 1 year low of $31.11 and a 1 year high of $52.45. The firm has a 50 day moving average of $48.52 and a 200-day moving average of $40.47.

SLB (NYSE:SLB) last released its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The business had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.54 billion. During the same period in the prior year, the company earned $0.92 EPS. SLB’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, sell-side analysts anticipate that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be paid a $0.295 dividend. This is an increase from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, February 11th. SLB’s payout ratio is presently 49.79%.

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.