Kestra Private Wealth Services LLC Trims Position in SLB Limited $SLB

Key Points

• Kestra Private Wealth Services LLC cut its stake in SLB by 48.5% in Q4, selling 40,413 shares and retaining 42,976 shares valued at $1.649 million.
• Major institutions boosted positions—Vanguard up 23.3% and State Street up 7.0%—leaving hedge funds and other institutional investors owning 81.99% of SLB.
• SLB posted a slight EPS beat ($0.52 vs. $0.51) with $8.72B revenue, and announced a quarterly dividend of $0.295 (annualized $1.18) for a 2.1% yield.

Kestra Private Wealth Services LLC decreased its position in shares of SLB Limited (NYSE:SLB - Free Report) by 48.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 42,976 shares of the oil and gas company's stock after selling 40,413 shares during the period. Kestra Private Wealth Services LLC's holdings in SLB were worth $1,649,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in SLB by 23.3% in the 3rd quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company's stock worth $6,371,335,000 after buying an additional 35,057,313 shares during the last quarter. State Street Corp boosted its stake in SLB by 7.0% in the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company's stock worth $2,898,037,000 after buying an additional 5,466,786 shares during the last quarter. Greenhaven Associates Inc. acquired a new stake in SLB in the 4th quarter worth about $178,883,000. Caisse de depot et placement du Quebec boosted its stake in SLB by 10,422.1% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 3,165,581 shares of the oil and gas company's stock worth $108,801,000 after buying an additional 3,135,496 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in SLB by 25.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company's stock worth $528,217,000 after buying an additional 3,094,764 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

SLB Stock Performance

SLB stock opened at $57.00 on Friday. The stock's 50-day moving average is $50.67 and its 200-day moving average is $44.29. The company has a market cap of $85.65 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 4.02 and a beta of 0.69. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. SLB Limited has a 12 month low of $31.64 and a 12 month high of $57.20.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. The company had revenue of $8.72 billion for 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 company's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.72 EPS. Equities analysts anticipate that SLB Limited will post 2.6 earnings per share for the current year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be paid a $0.295 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. SLB's dividend payout ratio (DPR) is 51.53%.

Insider Activity

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SLB shares. Citigroup raised their price target on SLB from $59.00 to $68.00 and gave the stock a "buy" rating in a research note on Thursday. Stifel Nicolaus raised their price target on SLB from $56.00 to $61.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Piper Sandler raised their price target on SLB from $53.00 to $59.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 15th. UBS Group raised their price target on SLB from $61.00 to $69.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Morgan Stanley set a $57.00 price objective on SLB in a report on Monday. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, SLB has an average rating of "Moderate Buy" and an average price target of $58.95.

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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