Kovack Advisors Inc. Decreases Position in SLB Limited $SLB

Kovack Advisors Inc. lessened its holdings in SLB Limited (NYSE:SLB) by 14.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,583 shares of the oil and gas company’s stock after selling 2,002 shares during the period. Kovack Advisors Inc.’s holdings in SLB were worth $391,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. First Command Advisory Services Inc. lifted its position in shares of SLB by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 477 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new stake in shares of SLB during the 1st quarter worth $33,000. Atticus Wealth Management LLC purchased a new stake in shares of SLB during the 2nd quarter worth $29,000. Park Square Financial Group LLC purchased a new stake in shares of SLB during the 1st quarter worth $38,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of SLB during the 1st quarter worth $40,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Melius assumed coverage on shares of SLB in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective for the company. Piper Sandler set a $42.00 price target on shares of SLB and gave the stock an “overweight” rating in a research note on Monday, October 20th. Stifel Nicolaus cut their price target on shares of SLB from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company lowered shares of SLB from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. Two equities research 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’s stock. Based on data from MarketBeat, SLB presently has an average rating of “Moderate Buy” and an average target price of $51.69.

SLB Trading Down 0.7%

NYSE SLB opened at $36.06 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. The firm has a market cap of $53.87 billion, a PE ratio of 13.92, a P/E/G ratio of 10.19 and a beta of 0.97. SLB Limited has a one year low of $31.11 and a one year high of $44.97. The firm’s fifty day moving average is $34.90 and its two-hundred day moving average is $34.62.

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

SLB Announces Dividend

The firm 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 $0.285 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.2%. SLB’s payout ratio is currently 44.02%.

Insider Buying and Selling

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction on 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 transaction, the insider directly owned 202,201 shares in the company, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

About SLB

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.