Glenview Trust Co Has $1.16 Million Stock Position in SLB Limited $SLB

Glenview Trust Co reduced its stake in shares of SLB Limited (NYSE:SLB) by 42.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,227 shares of the oil and gas company’s stock after selling 22,490 shares during the quarter. Glenview Trust Co’s holdings in SLB were worth $1,160,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SLB. Brighton Jones LLC grew its holdings in shares of 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 in the last quarter. Bison Wealth LLC bought a new stake in shares of SLB during the 4th quarter worth $238,000. Marshall Wace LLP bought a new stake in shares of SLB during the 2nd quarter worth $8,628,000. Nebula Research & Development LLC lifted its position in shares of SLB by 76.0% during the 2nd quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company’s stock worth $824,000 after buying an additional 10,522 shares during the last quarter. Finally, Diversify Advisory Services LLC lifted its position in shares of SLB by 7.6% during the 2nd quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company’s stock worth $373,000 after buying an additional 799 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the transaction, the director directly owned 16,953 shares in the company, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the transaction, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by company insiders.

SLB Price Performance

SLB stock opened at $58.18 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $86.98 billion, a PE ratio of 25.41, a P/E/G ratio of 2.32 and a beta of 0.72. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The stock has a 50-day moving average price of $52.92 and a two-hundred day moving average price of $46.80.

SLB (NYSE:SLB) last posted its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share. Analysts expect that SLB Limited will post 2.61 EPS for the current year.

SLB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be given a $0.295 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a yield of 2.0%. SLB’s dividend payout ratio (DPR) is currently 51.53%.

Analyst Ratings Changes

Several analysts recently weighed in on SLB shares. Susquehanna upped their price objective on SLB from $60.00 to $65.00 and gave the stock a “positive” rating in a research report on Monday, April 27th. Wall Street Zen downgraded SLB from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Sanford C. Bernstein upped their price objective on SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. The Goldman Sachs Group upped their price objective on SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Finally, Piper Sandler upped their price objective on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, SLB presently has an average rating of “Moderate Buy” and an average price target of $59.74.

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.