Mattson Financial Services LLC Reduces Holdings in SLB Limited $SLB

Key Points

• Mattson Financial Services LLC has reduced its holdings in SLB Limited by 30.3%, owning 47,149 shares worth approximately $1.59 million after selling 20,489 shares.
• A significant increase in investment from Charles Schwab Investment Management Inc. was noted, with a 478.8% increase in their SLB shares during the first quarter.
• Analysts have varying ratings for SLB, with two analysts giving a Strong Buy rating and a consensus target price set at $52.00.

Mattson Financial Services LLC lessened its position in shares of SLB Limited (NYSE:SLB - Free Report) by 30.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,149 shares of the oil and gas company's stock after selling 20,489 shares during the period. Mattson Financial Services LLC's holdings in SLB were worth $1,594,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of SLB by 478.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock valued at $1,994,674,000 after buying an additional 39,474,501 shares during the last quarter. Boston Partners boosted its stake in SLB by 27.7% in the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock worth $824,160,000 after purchasing an additional 4,300,222 shares during the period. Northern Trust Corp grew its holdings in SLB by 4.4% during the 1st quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company's stock valued at $602,860,000 after buying an additional 604,832 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in SLB by 22.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company's stock valued at $375,738,000 after buying an additional 1,667,203 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in SLB by 3.8% during the 1st quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company's stock valued at $320,154,000 after buying an additional 281,937 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SLB shares. Stifel Nicolaus reduced their target price on SLB from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Melius Research started coverage on SLB in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 target price for the company. Wells Fargo & Company lowered SLB from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. Melius started coverage on SLB in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 target price for the company. Finally, Piper Sandler reduced their target price on SLB from $42.00 to $41.00 and set a "neutral" rating for the company in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, SLB currently has an average rating of "Moderate Buy" and a consensus target price of $52.00.

SLB Stock Performance

NYSE:SLB opened at $32.88 on Friday. The business's 50-day moving average price is $34.50 and its two-hundred day moving average price is $34.65. SLB Limited has a twelve month low of $31.11 and a twelve month high of $44.97. The stock has a market cap of $49.11 billion, a P/E ratio of 11.26, a PEG ratio of 9.10 and a beta of 0.97. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. SLB had a return on equity of 20.99% and a net margin of 11.53%.The firm had revenue of $8.55 billion for the quarter, compared to analysts' expectations of $8.51 billion. During the same quarter last year, the firm posted $0.85 EPS. The company's revenue was down 6.5% compared to the same quarter last year. As a group, equities analysts predict that SLB Limited will post 3.38 EPS for the current fiscal year.

Insider Buying and Selling at SLB

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total value 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 trade represents a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.22% of the stock is currently owned by insiders.

SLB 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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