Intech Investment Management LLC Sells 20,482 Shares of SLB Limited $SLB

Intech Investment Management LLC reduced its stake in shares of SLB Limited (NYSE:SLB) by 22.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 69,470 shares of the oil and gas company’s stock after selling 20,482 shares during the quarter. Intech Investment Management LLC’s holdings in SLB were worth $2,388,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Synergy Asset Management LLC boosted its holdings in shares of SLB by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 80,830 shares of the oil and gas company’s stock worth $2,732,000 after acquiring an additional 40,415 shares in the last quarter. Americana Partners LLC raised its position in SLB by 10.1% in the 3rd quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company’s stock valued at $8,526,000 after purchasing an additional 22,706 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in SLB by 13.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 210,056 shares of the oil and gas company’s stock worth $7,220,000 after purchasing an additional 25,417 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of SLB by 4.9% during the third quarter. Nordea Investment Management AB now owns 2,157,885 shares of the oil and gas company’s stock worth $72,354,000 after purchasing an additional 100,918 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG increased its stake in shares of SLB by 1,937.4% in the third quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company’s stock valued at $34,265,000 after buying an additional 948,015 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Barclays increased their price objective on shares of SLB from $47.00 to $49.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Citigroup upped their target price on shares of SLB from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Bank of America raised their price target on shares of SLB from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 26th. UBS Group restated a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $50.00 price objective on shares of SLB in a research report on Wednesday, January 21st. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, SLB has a consensus rating of “Moderate Buy” and an average target price of $52.38.

Insider Activity at SLB

In related news, Director La Chevardiere Patrick De sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $50.29, for a total transaction of $201,160.00. Following the completion of the transaction, the director owned 19,525 shares in the company, valued at approximately $981,912.25. The trade was a 17.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Howard Guild sold 13,268 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $659,419.60. Following the completion of the sale, the chief accounting officer directly owned 22,407 shares of the company’s stock, valued at $1,113,627.90. The trade was a 37.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 156,902 shares of company stock worth $7,796,666. 0.22% of the stock is owned by company insiders.

SLB Price Performance

Shares of SLB stock opened at $48.55 on Wednesday. The firm’s 50 day moving average price is $47.16 and its two-hundred day moving average price is $39.78. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33. SLB Limited has a 52-week low of $31.11 and a 52-week high of $52.45. The stock has a market cap of $72.95 billion, a PE ratio of 20.49, a PEG ratio of 3.49 and a beta of 0.68.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The company had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.54 billion. During the same quarter in the prior year, the business posted $0.92 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, analysts forecast that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.4%. This is an increase from SLB’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, February 11th. SLB’s dividend payout ratio (DPR) is 49.79%.

About SLB

SLB (NYSE: SLB), historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB’s product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.