RFG Advisory LLC Trims Holdings in SLB Limited $SLB

Key Points

• RFG Advisory LLC reduced its holdings in SLB Limited by 48.1%, owning 12,403 shares valued at approximately $419,000 after selling 11,480 shares during the second quarter.
• Insider Dianne B. Ralston sold 39,727 shares of SLB at an average price of $36.08, resulting in a 16.42% decrease in her position, leaving her with shares worth over $7.29 million.
• SLB reported earnings of $0.69 per share for the most recent quarter, surpassing analysts' estimates, and also announced a quarterly dividend of $0.285 scheduled for January 8th, representing a yield of 3.5%.

RFG Advisory LLC lessened its holdings in shares of SLB Limited (NYSE:SLB - Free Report) by 48.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,403 shares of the oil and gas company's stock after selling 11,480 shares during the period. RFG Advisory LLC's holdings in SLB were worth $419,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. First Command Advisory Services Inc. increased its holdings in SLB by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 477 shares during the period. Atlas Capital Advisors Inc. bought a new stake in SLB during the 1st quarter valued at approximately $33,000. Alpine Bank Wealth Management bought a new stake in SLB during the 1st quarter valued at approximately $34,000. Atticus Wealth Management LLC bought a new stake in SLB during the 2nd quarter valued at approximately $29,000. Finally, Park Square Financial Group LLC bought a new stake in SLB during the 1st quarter valued at approximately $38,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 39,727 shares of the business's stock in a transaction that occurred 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 directly owned 202,201 shares in the company, valued at $7,295,412.08. The trade was a 16.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SLB has been the topic of several research reports. Susquehanna cut their price objective on SLB from $44.00 to $42.00 and set a "positive" rating on the stock in a research report on Monday, July 21st. Jefferies Financial Group cut their price objective on SLB from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Melius initiated coverage on SLB in a research report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price objective on the stock. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of SLB in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. cut their price objective on SLB from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, SLB presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.00.

SLB Stock Performance

Shares of SLB opened at $32.58 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The business's 50 day moving average price is $34.49 and its 200-day moving average price is $34.53. SLB Limited has a 52 week low of $31.11 and a 52 week high of $44.97. The stock has a market cap of $48.66 billion, a P/E ratio of 12.58, a P/E/G ratio of 9.11 and a beta of 0.97.

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

SLB Dividend Announcement

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

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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