Capital Investment Counsel Inc Acquires 2,760 Shares of SLB Limited $SLB

Capital Investment Counsel Inc lifted its holdings in SLB Limited (NYSE:SLB) by 18.2% during the second quarter, Holdings Channel reports. The institutional investor owned 17,956 shares of the oil and gas company’s stock after acquiring an additional 2,760 shares during the quarter. Capital Investment Counsel Inc’s holdings in SLB were worth $607,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC lifted its holdings in shares of SLB by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 1,166 shares during the last quarter. Bison Wealth LLC bought a new position in SLB during the 4th quarter valued at approximately $238,000. Alps Advisors Inc. bought a new position in SLB during the 1st quarter valued at approximately $362,000. Ballentine Partners LLC raised its stake in SLB by 75.5% during the first quarter. Ballentine Partners LLC now owns 10,168 shares of the oil and gas company’s stock valued at $425,000 after buying an additional 4,375 shares during the last quarter. Finally, Stephens Inc. AR boosted its holdings in SLB by 24.8% in the first quarter. Stephens Inc. AR now owns 31,837 shares of the oil and gas company’s stock worth $1,331,000 after acquiring an additional 6,328 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

SLB Price Performance

Shares of SLB opened at $36.06 on Thursday. The firm has a fifty day simple moving average of $35.00 and a two-hundred day simple moving average of $34.73. 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. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. SLB Limited has a 1-year low of $31.11 and a 1-year high of $44.97.

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

SLB Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SLB. Piper Sandler set a $42.00 price target on SLB and gave the company an “overweight” rating in a report on Monday, October 20th. Melius initiated coverage on shares of SLB in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective on the stock. Redburn Partners set a $48.00 target price on shares of SLB in a report on Monday, November 3rd. Barclays upped their target price on shares of SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, SLB presently has an average rating of “Moderate Buy” and a consensus target price of $51.28.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total value of $2,261,400.00. Following the transaction, the executive vice president owned 159,371 shares in the company, valued at $6,006,692.99. This represents a 27.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction that occurred 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 completion of 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 position. The SEC filing for this sale provides additional information. 0.22% of the stock is owned by corporate insiders.

SLB 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.