SLB Limited $SLB Shares Sold by Clark & Stuart Inc

Key Points

• Clark & Stuart Inc. cut its SLB position by 48.5% in the second quarter, selling 32,926 shares and retaining 34,919 shares valued at approximately $1.63 million. Institutional investors collectively own 81.99% of the company.
• Analysts maintain a largely positive view, with SLB receiving a “Moderate Buy” consensus rating and an average price target of $61.35, above its reported opening price of $52.66.
• SLB beat quarterly expectations with earnings of $0.55 per share and revenue of $8.97 billion, while reporting 5% year-over-year revenue growth. The company also declared a quarterly dividend of $0.295 per share, yielding about 2.2% annually.

Clark & Stuart Inc trimmed its position in SLB Limited (NYSE:SLB - Free Report) by 48.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,919 shares of the oil and gas company's stock after selling 32,926 shares during the quarter. SLB accounts for approximately 1.0% of Clark & Stuart Inc's portfolio, making the stock its 25th largest holding. Clark & Stuart Inc's holdings in SLB were worth $1,633,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Abel Hall LLC lifted its position in SLB by 2.7% during the first quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company's stock valued at $387,000 after buying an additional 198 shares in the last quarter. Private Wealth Asset Management LLC increased its position in shares of SLB by 4.1% in the fourth quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company's stock worth $193,000 after acquiring an additional 200 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of SLB by 9.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company's stock valued at $129,000 after acquiring an additional 214 shares during the period. Ballentine Partners LLC lifted its holdings in shares of SLB by 2.2% during the 4th quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company's stock valued at $395,000 after acquiring an additional 218 shares in the last quarter. Finally, Davis Capital Management boosted its position in SLB by 1.0% during the 1st quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company's stock worth $1,129,000 after purchasing an additional 220 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on SLB shares. Raymond James Financial reduced their price objective on SLB from $62.00 to $61.00 and set an "outperform" rating on the stock in a research note on Friday, July 10th. JPMorgan Chase & Co. upped their price target on SLB from $54.00 to $61.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Susquehanna increased their price objective on shares of SLB from $55.00 to $62.00 and gave the company a "positive" rating in a research report on Monday, July 27th. Sanford C. Bernstein boosted their target price on shares of SLB from $56.10 to $71.00 and gave the stock an "outperform" rating in a research report on Monday, May 11th. Finally, Barclays upped their target price on shares of SLB from $64.00 to $67.00 and gave the company an "overweight" rating in a research note on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.35.

SLB Stock Performance

Shares of SLB opened at $52.66 on Thursday. The firm has a market cap of $78.15 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 3.54 and a beta of 0.73. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The business's 50 day moving average is $49.67 and its two-hundred day moving average is $51.04. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. The business had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The business's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 earnings per share. Analysts forecast that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be given a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. SLB's payout ratio is presently 57.00%.

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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