Inspire Investing LLC Has $6.97 Million Stock Position in SLB Limited $SLB

Inspire Investing LLC reduced its position in shares of SLB Limited (NYSE:SLB) by 13.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 135,632 shares of the oil and gas company’s stock after selling 20,762 shares during the period. SLB comprises about 0.6% of Inspire Investing LLC’s investment portfolio, making the stock its 27th biggest position. Inspire Investing LLC’s holdings in SLB were worth $6,970,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of SLB by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock valued at $7,156,177,000 after acquiring an additional 1,080,999 shares during the last quarter. State Street Corp grew its position in SLB by 1.0% during the 4th quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company’s stock worth $3,263,998,000 after acquiring an additional 799,218 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in SLB by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company’s stock worth $2,072,844,000 after acquiring an additional 1,458,650 shares during the last quarter. Morgan Stanley increased its holdings in SLB by 1.3% during the 4th quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company’s stock valued at $1,423,716,000 after purchasing an additional 482,533 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in SLB by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock valued at $1,292,993,000 after purchasing an additional 510,747 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Stock Down 1.2%

NYSE:SLB opened at $46.41 on Tuesday. The company has a market cap of $69.39 billion, a price-to-earnings ratio of 20.27, a P/E/G ratio of 1.89 and a beta of 0.70. 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 fifty day moving average price is $54.12 and its two-hundred day moving average price is $49.51. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82.

SLB (NYSE:SLB) last released its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The company had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.72 EPS. On average, analysts anticipate that SLB Limited will post 2.62 EPS for the current year.

SLB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors 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 yield of 2.5%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio (DPR) is presently 51.53%.

Analysts Set New Price Targets

SLB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. UBS Group lifted their price target on SLB from $61.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Jefferies Financial Group reiterated a “buy” rating and set a $65.00 price target on shares of SLB in a research report on Sunday, April 26th. The Goldman Sachs Group increased their price objective on shares of SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Finally, TD Cowen increased their price objective on shares of SLB from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.83.

Insider Activity

In other news, EVP Steve Matthew Gassen sold 53,379 shares of SLB 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 in the company, valued at $2,664,111.78. The trade was a 52.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total transaction of $108,660.00. Following the completion of the transaction, the director owned 16,953 shares in the company, valued at $921,056.49. This represents a 10.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.16% of the company’s stock.

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.