Key Points
- SLB Chief Accounting Officer Howard Guild sold 10,047 shares for approximately $539,022, reducing his holdings by 43.89% to 12,845 shares.
- SLB reported quarterly EPS of $0.64 and revenue of $9.45 billion, exceeding analyst estimates; revenue increased 5.8% year over year.
- The company announced a quarterly dividend of $0.295 per share, equivalent to a $1.18 annualized payout and a 2.2% yield, while analysts maintained a “Moderate Buy” consensus with a $61.52 average price target.
SLB Limited (NYSE:SLB - Get Free Report) CAO Howard Guild sold 10,047 shares of the company's stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $53.65, for a total value of $539,021.55. Following the sale, the chief accounting officer owned 12,845 shares in the company, valued at approximately $689,134.25. This trade represents a 43.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
SLB Price Performance
SLB stock opened at $53.87 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.39 and a quick ratio of 1.02. The firm has a market capitalization of $79.95 billion, a P/E ratio of 26.15, a P/E/G ratio of 2.95 and a beta of 0.83. The business's 50-day moving average is $52.50 and its two-hundred day moving average is $51.32. SLB Limited has a 1 year low of $34.65 and a 1 year high of $60.46.
SLB (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. SLB had a return on equity of 13.77% and a net margin of 8.40%. The business had revenue of $9.45 billion during the quarter, compared to analysts' expectations of $9.27 billion. During the same quarter last year, the business posted $0.69 EPS. The business's quarterly revenue was up 5.8% compared to the same quarter last year. Analysts anticipate that SLB Limited will post 2.48 earnings per share for the current fiscal year.
SLB Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 2nd will be issued a $0.2950 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.18 annualized dividend and a yield of 2.2%. SLB's dividend payout ratio (DPR) is 57.28%.
Hedge Funds Weigh In On SLB
A number of hedge funds have recently modified their holdings of SLB. State Street Corp boosted its stake in SLB by 0.8% during the 2nd quarter. State Street Corp now owns 91,222,641 shares of the oil and gas company's stock worth $4,267,269,000 after purchasing an additional 722,060 shares during the period. First Eagle Investment Management LLC increased its stake in SLB by 1.9% in the second quarter. First Eagle Investment Management LLC now owns 28,913,733 shares of the oil and gas company's stock valued at $1,344,199,000 after purchasing an additional 537,566 shares during the period. Bank of New York Mellon Corp acquired a new position in SLB in the second quarter valued at $1,339,567,000. Amundi raised its holdings in shares of SLB by 15.8% in the second quarter. Amundi now owns 19,815,245 shares of the oil and gas company's stock valued at $921,211,000 after buying an additional 2,698,766 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of SLB by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 15,901,998 shares of the oil and gas company's stock valued at $817,246,000 after buying an additional 169,468 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have commented on SLB. Susquehanna boosted their price target on shares of SLB from $55.00 to $62.00 and gave the stock a "positive" rating in a report on Monday, July 27th. Morgan Stanley increased their price objective on shares of SLB from $54.00 to $55.00 and gave the company an "overweight" rating in a research report on Monday, July 27th. Raymond James Financial reduced their price objective on shares of SLB from $62.00 to $61.00 and set an "outperform" rating on the stock in a report on Friday, July 10th. Evercore lifted their price objective on shares of SLB from $63.00 to $66.00 in a research report on Thursday, October 8th. Finally, Barclays decreased their price objective on shares of SLB from $66.00 to $63.00 and set an "overweight" rating for the company in a research report on Monday. Twenty-four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $61.52.
Get Our Latest Stock Report on SLB
SLB Company Profile
(
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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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