SLB Limited $SLB Shares Sold by Community Trust & Investment Co.

Key Points

• Community Trust & Investment Co. cut its SLB stake by 5.5% in the second quarter, selling 23,832 shares and retaining 412,194 shares valued at $19.2 million. Institutional investors and hedge funds collectively own nearly 82% of SLB.
• SLB reported quarterly adjusted earnings of $0.55 per share and revenue of $8.97 billion, beating analyst expectations; revenue increased 5% year over year, though EPS declined from $0.74 in the prior-year quarter.
• SLB declared a quarterly dividend of $0.295 per share, equal to an annualized $1.18 payout and a 2.3% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $61.35.

Community Trust & Investment Co. lowered its stake in SLB Limited (NYSE:SLB - Free Report) by 5.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 412,194 shares of the oil and gas company's stock after selling 23,832 shares during the period. Community Trust & Investment Co.'s holdings in SLB were worth $19,163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. FNY Investment Advisers LLC increased its position in shares of SLB by 33.3% in the 2nd quarter. FNY Investment Advisers LLC now owns 2,000 shares of the oil and gas company's stock valued at $92,000 after acquiring an additional 500 shares during the period. Czech National Bank lifted its position in SLB by 4.5% during the 2nd quarter. Czech National Bank now owns 425,551 shares of the oil and gas company's stock worth $19,784,000 after acquiring an additional 18,304 shares during the period. Assenagon Asset Management S.A. lifted its position in SLB by 1,858.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,248,224 shares of the oil and gas company's stock worth $104,520,000 after acquiring an additional 2,133,409 shares during the period. Apella Capital LLC grew its stake in SLB by 5.2% during the 2nd quarter. Apella Capital LLC now owns 5,489 shares of the oil and gas company's stock valued at $255,000 after purchasing an additional 271 shares during the last quarter. Finally, Evanson Financial LLC acquired a new position in shares of SLB in the second quarter valued at about $393,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Stock Performance

Shares of SLB stock opened at $50.52 on Friday. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82. 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 stock has a market cap of $74.98 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 3.40 and a beta of 0.73. The business has a 50-day simple moving average of $49.84 and a 200-day simple moving average of $50.91.

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

SLB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. SLB's dividend payout ratio (DPR) is presently 57.00%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Raymond James Financial reduced their price objective on SLB from $62.00 to $61.00 and set an "outperform" rating for the company in a research note on Friday, July 10th. Wolfe Research initiated coverage on shares of SLB in a report on Wednesday, July 8th. They issued an "outperform" rating and a $62.00 price target on the stock. UBS Group reduced their price target on shares of SLB from $69.00 to $66.00 and set a "buy" rating for the company in a research report on Wednesday, July 1st. Piper Sandler lifted their price objective on shares of SLB from $59.00 to $64.00 and gave the company an "overweight" rating in a research note on Monday, July 27th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of SLB in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $61.35.

SLB 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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