SLB Limited $SLB Stake Increased by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management increased its stake in SLB Limited by 27.2% in Q2, now owning 36,350 shares valued at approximately $1.23 million.
• Insiders, including Dianne B. Ralston, sold shares totaling over $1.43 million, indicating shifting company ownership dynamics.
• SLB's recent quarterly results showed EPS of $0.69, surpassing expectations, despite a slight decline in revenue year-over-year.

Ritholtz Wealth Management increased its stake in SLB Limited (NYSE:SLB - Free Report) by 27.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,350 shares of the oil and gas company's stock after buying an additional 7,766 shares during the period. Ritholtz Wealth Management's holdings in SLB were worth $1,229,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nuveen LLC bought a new stake in shares of SLB in the first quarter worth $169,232,000. Scharf Investments LLC increased its stake in SLB by 20.5% during the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock valued at $69,133,000 after purchasing an additional 281,773 shares during the last quarter. Alan B Lancz & Associates Inc. bought a new stake in SLB during the first quarter valued at $308,000. Godsey & Gibb Inc. increased its stake in SLB by 9.6% during the second quarter. Godsey & Gibb Inc. now owns 493,092 shares of the oil and gas company's stock valued at $16,667,000 after purchasing an additional 43,135 shares during the last quarter. Finally, Shell Asset Management Co. increased its stake in SLB by 48.1% during the second quarter. Shell Asset Management Co. now owns 62,737 shares of the oil and gas company's stock valued at $2,121,000 after purchasing an additional 20,387 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SLB shares. Stifel Nicolaus lowered their target price on shares of SLB from $54.00 to $52.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Melius started coverage on shares of SLB in a research note on Wednesday, August 20th. They set a "buy" rating and a $82.00 target price for the company. Barclays lowered their target price on shares of SLB from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Piper Sandler lowered their target price on shares of SLB from $42.00 to $41.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, UBS Group lowered their target price on shares of SLB from $45.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $52.00.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 39,727 shares of the company's stock in a transaction dated 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 sale, the insider owned 202,201 shares of the company's stock, valued at $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.22% of the stock is owned by insiders.

SLB Stock Down 1.0%

SLB stock opened at $32.58 on Friday. The company has a 50-day simple moving average of $34.49 and a 200-day simple moving average of $34.58. The firm has a market capitalization of $48.66 billion, a P/E ratio of 11.16, a P/E/G ratio of 9.20 and a beta of 0.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. SLB Limited has a one year low of $31.11 and a one year high of $44.97.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.67 by $0.02. The business had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.99 billion. SLB had a net margin of 11.53% and a return on equity of 20.99%. The company's quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share. As a group, equities analysts expect that SLB Limited will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

The business 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. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a yield of 3.5%. SLB's dividend payout ratio is presently 39.04%.

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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