Glenview Trust Co Sells 22,490 Shares of SLB Limited $SLB

Key Points

• Glenview Trust Co cut its SLB stake by 42.7% in the fourth quarter, selling 22,490 shares and leaving it with 30,227 shares worth about $1.16 million.
• SLB reported quarterly EPS of $0.52, edging past estimates, while revenue came in at $8.72 billion, slightly below forecasts but still up 2.7% year over year.
• The company announced a quarterly dividend of $0.295 per share, or $1.18 annualized, and analysts currently rate the stock a Moderate Buy with a consensus target of $59.74.

Glenview Trust Co decreased its position in SLB Limited (NYSE:SLB - Free Report) by 42.7% during the 4th quarter, according to its most recent 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 period. Glenview Trust Co's holdings in SLB were worth $1,160,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Root Financial Partners LLC bought a new stake in SLB in the 3rd quarter valued at approximately $29,000. Strategic Wealth Advisors LLC bought a new stake in SLB in the 4th quarter valued at approximately $30,000. Strengthening Families & Communities LLC bought a new stake in SLB in the 3rd quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in SLB in the 4th quarter valued at approximately $31,000. Finally, Steph & Co. lifted its stake in SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company's stock valued at $31,000 after acquiring an additional 394 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

SLB Stock Up 1.6%

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 firm has a market capitalization of $86.98 billion, a PE ratio of 25.41, a PEG ratio of 2.32 and a beta of 0.72. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The business's 50 day simple moving average is $52.92 and its 200 day simple moving average is $46.80.

SLB (NYSE:SLB - Get Free Report) last posted its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. The business had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm's revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.72 EPS. As a group, research analysts anticipate that SLB Limited will post 2.61 EPS for the current year.

SLB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.0%. SLB's payout ratio is presently 51.53%.

Insider Buying and Selling

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the company's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the transaction, the executive vice president directly owned 47,421 shares of the company's stock, valued at $2,664,111.78. This represents a 52.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the company's stock in a transaction on Thursday, May 7th. The shares were 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 represents a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have commented on SLB. Susquehanna boosted their target price on SLB from $60.00 to $65.00 and gave the company a "positive" rating in a research note on Monday, April 27th. Morgan Stanley set a $57.00 price objective on SLB in a research note on Monday, April 27th. Piper Sandler upped their price objective on SLB from $53.00 to $59.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 15th. Wall Street Zen cut SLB from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Finally, JPMorgan Chase & Co. upped their price objective on SLB from $54.00 to $61.00 and gave the stock an "overweight" rating in a research note on Monday, April 27th. Three investment 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.

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