John G Ullman & Associates Inc. Sells 24,901 Shares of SLB Limited $SLB

Key Points

• John G Ullman & Associates Inc. reduced its stake in SLB Limited by 8.3%, selling 24,901 shares and now holding 274,187 shares, representing approximately 1.4% of their investment portfolio.
• SLB Limited reported $0.69 earnings per share for the last quarter, surpassing analyst expectations, but experienced a 2.5% decline in quarterly revenue compared to the previous year.
• The company declared a quarterly dividend of $0.285 per share, translating to a 3.5% yield, with the payment scheduled for January 8th.

John G Ullman & Associates Inc. lessened its stake in shares of SLB Limited (NYSE:SLB - Free Report) by 8.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 274,187 shares of the oil and gas company's stock after selling 24,901 shares during the period. SLB comprises approximately 1.4% of John G Ullman & Associates Inc.'s investment portfolio, making the stock its 17th largest holding. John G Ullman & Associates Inc.'s holdings in SLB were worth $9,268,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SLB. First Command Advisory Services Inc. raised its holdings in SLB by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after acquiring an additional 477 shares in the last quarter. Atticus Wealth Management LLC acquired a new position in SLB during the second quarter worth approximately $29,000. Atlas Capital Advisors Inc. acquired a new position in SLB during the first quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. increased its position in SLB by 55.3% during the second 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 last quarter. Finally, Alpine Bank Wealth Management acquired a new position in SLB during the first quarter worth approximately $34,000. Institutional investors own 81.99% of the company's stock.

SLB Price Performance

SLB stock opened at $32.58 on Friday. The company has a market capitalization of $48.66 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 9.11 and a beta of 0.97. SLB Limited has a 12 month low of $31.11 and a 12 month high of $44.97. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The stock's 50 day moving average is $34.49 and its 200-day moving average is $34.53.

SLB (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.02. The business had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.99 billion. SLB had a return on equity of 20.99% and a net margin of 11.53%.The firm's quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.89 earnings per share. Equities research analysts expect that SLB Limited will post 3.38 EPS for the current year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.5%. SLB's dividend payout ratio is currently 44.02%.

Insider Transactions at SLB

In related news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the sale, the insider owned 202,201 shares of the company's stock, valued at $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on SLB from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Weiss Ratings reissued a "hold (c-)" rating on shares of SLB in a research report on Wednesday, October 8th. Wells Fargo & Company downgraded SLB from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Melius Research assumed coverage on SLB in a research report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price target on the stock. Finally, Melius started coverage on SLB in a research report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $52.00.

SLB Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.

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