Key Points
- SLB insider Dianne Ralston sold 20,986 shares at an average price of $53.57, generating approximately $1.12 million and reducing her stake by 9.28% to 205,053 shares.
- SLB exceeded quarterly expectations, reporting $0.64 EPS and $9.45 billion in revenue, with revenue up 5.8% year over year.
- The company declared a quarterly dividend of $0.295 per share, equivalent to a $1.18 annualized payout and a 2.2% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $61.52.
SLB Limited (NYSE:SLB - Get Free Report) insider Dianne Ralston sold 20,986 shares of the firm's stock in a transaction on Friday, October 30th. The shares were sold at an average price of $53.57, for a total transaction of $1,124,220.02. Following the transaction, the insider owned 205,053 shares in the company, valued at $10,984,689.21. This represents a 9.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
SLB Price Performance
NYSE SLB opened at $53.78 on Friday. SLB Limited has a fifty-two week low of $34.65 and a fifty-two week high of $60.46. The stock's 50-day moving average is $52.50 and its two-hundred day moving average is $51.37. The firm has a market cap of $79.38 billion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 2.99 and a beta of 0.83. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.39 and a quick ratio of 1.02.
SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. The company had revenue of $9.45 billion during 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 firm's revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 EPS. On average, analysts anticipate that SLB Limited will post 2.46 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. Shareholders of record on Wednesday, December 2nd will be given a dividend of $0.2950 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. SLB's payout ratio is currently 57.28%.
Institutional Investors Weigh In On SLB
A number of institutional investors have recently bought and sold shares of the business. Evergreen Advisors LLC acquired a new stake in shares of SLB during the 1st quarter valued at about $26,000. Costello Asset Management INC raised its position in SLB by 93.3% in the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 280 shares in the last quarter. Arlington Trust Co LLC raised its holdings in shares of SLB by 66.5% in the 2nd quarter. Arlington Trust Co LLC now owns 701 shares of the oil and gas company's stock worth $33,000 after buying an additional 280 shares in the last quarter. Signature Equity Partners LLC grew its position in SLB by 42.5% in the third quarter. Signature Equity Partners LLC now owns 751 shares of the oil and gas company's stock valued at $37,000 after acquiring an additional 224 shares during the period. Finally, Maryland Capital Advisors Inc. bought a new stake in SLB in the second quarter valued at $35,000. Institutional investors and hedge funds own 81.99% of the company's stock.
Analyst Ratings Changes
A number of research firms have issued reports on SLB. Jefferies Financial Group reaffirmed a "buy" rating and issued a $66.00 target price (up from $65.00) on shares of SLB in a report on Sunday, July 26th. Weiss Ratings restated a "hold (c)" rating on shares of SLB in a research note on Monday, August 3rd. Morgan Stanley boosted their target price on shares of SLB from $54.00 to $55.00 and gave the stock an "overweight" rating in a research report on Monday, July 27th. Citigroup cut their target price on shares of SLB from $63.00 to $62.00 and set a "buy" rating for the company in a research note on Monday, October 19th. Finally, The Goldman Sachs Group decreased their price target on shares of SLB from $63.00 to $62.00 in a research report on Tuesday, July 7th. Twenty-four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.52.
View Our Latest Stock Report on SLB
SLB Company Profile
(
Get Free Report)
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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