SLB (NYSE:SLB) Stock: Insider Howard Guild Sells 10,047 Shares

Key Points

• Insider sale: Chief Accounting Officer Howard Guild sold 10,047 SLB shares for approximately $539,022, reducing his direct ownership by 43.89% to 12,845 shares.
• Financial performance: SLB reported quarterly earnings of $0.64 per share, beating estimates by $0.02, while revenue of $9.45 billion exceeded forecasts and rose 5.8% year over year.
• Investor outlook: SLB declared a quarterly dividend of $0.295 per share, and analysts maintain a “Moderate Buy” consensus with an average price target of $61.52 versus the reported share price of $53.87.

SLB Limited (NYSE:SLB - Get Free Report) CAO Howard Guild sold 10,047 shares of the firm's stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $53.65, for a total transaction of $539,021.55. Following the completion of the transaction, the chief accounting officer directly owned 12,845 shares in the company, valued at approximately $689,134.25. This represents a 43.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

SLB Price Performance

Shares of NYSE:SLB traded up $0.12 during midday trading on Thursday, hitting $53.87. The stock had a trading volume of 13,468,836 shares, compared to its average volume of 15,790,804. SLB Limited has a fifty-two week low of $34.65 and a fifty-two week high of $60.46. The company has a market capitalization of $79.95 billion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 2.92 and a beta of 0.83. The company has a quick ratio of 1.02, a current ratio of 1.39 and a debt-to-equity ratio of 0.41. The company's 50-day moving average price is $52.49 and its 200-day moving average price is $51.28.

SLB (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. The firm had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.27 billion. SLB had a return on equity of 13.77% and a net margin of 8.40%. The company's revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. As a group, equities research analysts predict that SLB Limited will post 2.47 EPS for the current fiscal year.

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 2nd will be issued a dividend of $0.2950 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. SLB's payout ratio is 57.28%.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of recent research reports. UBS Group cut their price target on SLB from $75.00 to $70.00 and set a "buy" rating on the stock in a research note on Monday. Zacks Research upgraded shares of SLB from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 25th. Evercore raised their target price on SLB from $63.00 to $66.00 in a research report on Thursday, October 8th. Rothschild & Co Redburn lifted their target price on SLB from $66.00 to $68.00 and gave the stock a "buy" rating in a report on Friday, September 25th. Finally, TD Cowen reiterated a "buy" rating on shares of SLB in a research report on Monday. Twenty-four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $61.52.

Hedge Funds Weigh In On SLB

Several large investors have recently added to or reduced their stakes in the business. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of SLB by 24.4% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 66,262 shares of the oil and gas company's stock worth $3,228,000 after buying an additional 13,015 shares in the last quarter. Nippon Life Global Investors Americas Inc. lifted its position in SLB by 147.9% during the third quarter. Nippon Life Global Investors Americas Inc. now owns 171,740 shares of the oil and gas company's stock valued at $8,406,000 after purchasing an additional 102,450 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of SLB in the 3rd quarter worth about $90,918,000. Cidel Asset Management Inc. bought a new stake in shares of SLB in the 3rd quarter worth about $690,000. Finally, Americana Partners LLC raised its position in shares of SLB by 72.0% during the 3rd quarter. Americana Partners LLC now owns 210,179 shares of the oil and gas company's stock valued at $10,240,000 after buying an additional 87,990 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

SLB Company Profile

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.

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