DAVENPORT & Co LLC Has $88.18 Million Holdings in SLB Limited $SLB

DAVENPORT & Co LLC decreased its holdings in SLB Limited (NYSE:SLB) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,294,446 shares of the oil and gas company’s stock after selling 139,760 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.15% of SLB worth $88,175,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at SLB

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $2,982,000.00. Following the transaction, the executive vice president owned 140,602 shares in the company, valued at $6,987,919.40. This trade represents a 29.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Howard Guild sold 13,268 shares of SLB stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $659,419.60. Following the transaction, the chief accounting officer directly owned 22,407 shares in the company, valued at approximately $1,113,627.90. The trade was a 37.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 156,902 shares of company stock worth $7,796,666. 0.16% of the stock is currently owned by corporate insiders.

SLB Stock Performance

NYSE SLB opened at $50.52 on Wednesday. The company has a market cap of $75.90 billion, a P/E ratio of 21.32, a PEG ratio of 3.50 and a beta of 0.68. The company has a fifty day simple moving average of $48.92 and a 200 day simple moving average of $41.02. 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 12-month low of $31.11 and a 12-month high of $52.45.

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

SLB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, February 11th. This is a positive change from SLB’s previous quarterly dividend of $0.29. SLB’s payout ratio is 49.79%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SLB shares. Wall Street Zen lowered shares of SLB from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Royal Bank Of Canada increased their price objective on shares of SLB from $51.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Bank of America lifted their target price on shares of SLB from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Piper Sandler upped their price target on shares of SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $50.00 price target on shares of SLB in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $53.16.

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.