Huntington National Bank Increases Holdings in SLB Limited $SLB

Huntington National Bank boosted its holdings in shares of SLB Limited (NYSE:SLB) by 40.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 986,168 shares of the oil and gas company’s stock after purchasing an additional 281,994 shares during the period. Huntington National Bank’s holdings in SLB were worth $37,849,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SLB. Vanguard Group Inc. increased its holdings 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 valued at $6,371,335,000 after purchasing an additional 35,057,313 shares during the period. State Street Corp increased its holdings 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 valued at $2,898,037,000 after purchasing an additional 5,466,786 shares during the period. Greenhaven Associates Inc. purchased a new position in SLB during the 4th quarter valued at about $178,883,000. Caisse de depot et placement du Quebec increased its holdings 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 valued at $108,801,000 after purchasing an additional 3,135,496 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings 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 valued at $528,217,000 after purchasing an additional 3,094,764 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

SLB stock opened at $56.53 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. The stock’s 50 day simple moving average is $53.16 and its two-hundred day simple moving average is $46.94. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The stock has a market cap of $84.52 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 2.35 and a beta of 0.72.

SLB (NYSE:SLB) last issued its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.76 billion. During the same period in the previous year, the firm posted $0.72 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts expect that SLB Limited will post 2.62 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 $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s payout ratio is currently 51.53%.

Insider Buying and Selling

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the sale, the executive vice president directly owned 47,421 shares of the company’s stock, valued at $2,664,111.78. The trade was a 52.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the sale, the director directly owned 16,953 shares in the company, valued at approximately $921,056.49. This represents a 10.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

SLB has been the topic of several research reports. Wall Street Zen cut SLB from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. TD Cowen lifted their price objective on SLB from $55.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Morgan Stanley set a $57.00 price objective on SLB in a research report on Monday, April 27th. Evercore reaffirmed an “outperform” rating and set a $64.00 price objective on shares of SLB in a research report on Monday, April 27th. Finally, Susquehanna lifted their price objective on SLB from $60.00 to $65.00 and gave the company a “positive” rating in a research report on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.74.

SLB Company Profile

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.