Strs Ohio Cuts Stake in SLB Limited $SLB

Strs Ohio lessened its holdings in shares of SLB Limited (NYSE:SLB) by 5.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 532,796 shares of the oil and gas company’s stock after selling 33,687 shares during the quarter. Strs Ohio’s holdings in SLB were worth $20,449,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SLB. Vanguard Group Inc. increased its position in SLB by 23.3% during the 3rd quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock worth $6,371,335,000 after purchasing an additional 35,057,313 shares in the last quarter. State Street Corp increased its position in SLB by 7.0% during the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock worth $2,898,037,000 after purchasing an additional 5,466,786 shares in the last quarter. Greenhaven Associates Inc. acquired a new stake in SLB during the 4th quarter worth approximately $178,883,000. Caisse de depot et placement du Quebec increased its position in SLB by 10,422.1% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 3,165,581 shares of the oil and gas company’s stock worth $108,801,000 after purchasing an additional 3,135,496 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in SLB by 25.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company’s stock worth $528,217,000 after purchasing an additional 3,094,764 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Citigroup increased their target price on shares of SLB from $59.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group increased their target price on shares of SLB from $61.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. The Goldman Sachs Group increased their target price on shares of SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Bank of America increased their target price on shares of SLB from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Freedom Capital downgraded shares of SLB from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.95.

SLB Stock Up 0.1%

SLB stock opened at $57.00 on Monday. SLB Limited has a twelve month low of $31.64 and a twelve month high of $57.20. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $85.22 billion, a P/E ratio of 24.89, a PEG ratio of 4.02 and a beta of 0.72. The firm has a 50 day simple moving average of $50.67 and a 200-day simple moving average of $44.45.

SLB (NYSE:SLB) last released its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter last year, the company earned $0.72 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that SLB Limited will post 2.6 earnings per share for the current fiscal year.

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. SLB’s dividend payout ratio (DPR) is presently 51.53%.

Insider Buying and Selling at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the sale, the executive vice president owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.16% of the company’s stock.

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.