Parcion Private Wealth LLC Has $594,000 Stake in SLB Limited $SLB

Parcion Private Wealth LLC decreased its stake in shares of SLB Limited (NYSE:SLB) by 3.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 17,564 shares of the oil and gas company’s stock after selling 667 shares during the period. Parcion Private Wealth LLC’s holdings in SLB were worth $594,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in shares of SLB by 478.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock worth $1,994,674,000 after buying an additional 39,474,501 shares during the period. Boston Partners grew its position in shares of SLB by 27.7% during the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock worth $824,160,000 after buying an additional 4,300,222 shares during the period. Northern Trust Corp grew its position in shares of SLB by 4.4% during the 1st quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock worth $602,860,000 after buying an additional 604,832 shares during the period. Dimensional Fund Advisors LP grew its position in shares of SLB by 22.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company’s stock worth $375,738,000 after buying an additional 1,667,203 shares during the period. Finally, Invesco Ltd. grew its position in SLB by 3.8% in the 1st quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company’s stock valued at $320,154,000 after purchasing an additional 281,937 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SLB shares. Jefferies Financial Group reduced their price target on shares of SLB from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, June 26th. JPMorgan Chase & Co. reduced their price target on shares of SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a research report on Monday. Piper Sandler set a $42.00 price target on shares of SLB and gave the company an “overweight” rating in a research report on Monday. Melius started coverage on shares of SLB in a research report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target for the company. Finally, Stifel Nicolaus reduced their price target on shares of SLB from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.69.

Insiders Place Their Bets

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the transaction, the insider directly owned 202,201 shares in the company, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.22% of the company’s stock.

SLB Price Performance

Shares of NYSE:SLB opened at $34.88 on Thursday. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. The stock’s fifty day simple moving average is $34.55 and its two-hundred day simple moving average is $34.49. SLB Limited has a 1-year low of $31.11 and a 1-year high of $44.97. The stock has a market cap of $52.09 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 9.34 and a beta of 0.97.

SLB (NYSE:SLB) last issued its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The business had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.99 billion. During the same period last year, the business earned $0.89 EPS. The business’s revenue was down 2.5% on a year-over-year basis. As a group, analysts forecast that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be paid a dividend of $0.285 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a yield of 3.3%. SLB’s dividend payout ratio (DPR) is 44.02%.

SLB Company 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.