Kanawha Capital Management LLC Has $1.25 Million Stake in SLB Limited $SLB

Key Points

• Kanawha Capital Management LLC has decreased its stake in SLB Limited by 19.8%, owning 37,115 shares valued at approximately $1.25 million as of the latest SEC filing.
• Several analysts have adjusted their price targets for SLB, with JPMorgan Chase lowering it from $46.00 to $44.00, while Melius set a new target at $82.00 with a "buy" rating.
• SLB is set to pay a quarterly dividend of $0.285 on January 8th, 2024, representing an annualized yield of 3.5%, with a payout ratio of 39.04%.

Kanawha Capital Management LLC reduced its holdings in SLB Limited (NYSE:SLB - Free Report) by 19.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,115 shares of the oil and gas company's stock after selling 9,167 shares during the period. Kanawha Capital Management LLC's holdings in SLB were worth $1,254,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. First Command Advisory Services Inc. lifted its holdings in SLB by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after buying an additional 477 shares during the period. Atlas Capital Advisors Inc. acquired a new position in SLB in the first quarter valued at approximately $33,000. Alpine Bank Wealth Management acquired a new position in SLB in the first quarter valued at approximately $34,000. Atticus Wealth Management LLC acquired a new position in SLB in the second quarter valued at approximately $29,000. Finally, Park Square Financial Group LLC acquired a new position in SLB in the first quarter valued at approximately $38,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SLB shares. JPMorgan Chase & Co. cut their price objective on shares of SLB from $46.00 to $44.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Melius assumed coverage on shares of SLB in a research note on Wednesday, August 20th. They issued a "buy" rating and a $82.00 target price for the company. Susquehanna lowered their target price on shares of SLB from $44.00 to $42.00 and set a "positive" rating for the company in a research note on Monday, July 21st. Jefferies Financial Group lowered their target price on shares of SLB from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Finally, Wells Fargo & Company downgraded shares of SLB from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, SLB presently has an average rating of "Moderate Buy" and a consensus price target of $52.00.

Insider Buying and Selling

In related news, insider Dianne B. Ralston sold 39,727 shares of the firm's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.22% of the company's stock.

SLB Price Performance

SLB stock opened at $32.58 on Friday. The stock has a 50-day moving average price of $34.49 and a two-hundred day moving average price of $34.58. SLB Limited has a 1 year low of $31.11 and a 1 year high of $44.97. The stock has a market cap of $48.66 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 9.20 and a beta of 0.97. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51.

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

SLB Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB's payout ratio is currently 39.04%.

About SLB

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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