Carmignac Gestion Sells 3,723,264 Shares of SLB Limited $SLB

Carmignac Gestion lowered its position in shares of SLB Limited (NYSE:SLB) by 79.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 946,192 shares of the oil and gas company’s stock after selling 3,723,264 shares during the quarter. Carmignac Gestion owned about 0.06% of SLB worth $48,625,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fearnley Asset Management AS bought a new stake in shares of SLB in the 4th quarter worth approximately $8,574,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of SLB in the 1st quarter worth approximately $47,528,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in SLB by 4.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock valued at $126,303,000 after buying an additional 128,660 shares in the last quarter. Cibc World Market Inc. increased its position in SLB by 48.7% during the 4th quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock valued at $52,468,000 after buying an additional 447,667 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in SLB by 65.0% during the fourth quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company’s stock valued at $7,898,000 after buying an additional 81,045 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SLB shares. Wolfe Research assumed coverage on SLB in a report on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 target price on the stock. Stifel Nicolaus lifted their price target on SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Raymond James Financial dropped their price target on shares of SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, July 10th. Weiss Ratings downgraded shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Finally, Evercore reissued an “outperform” rating and set a $66.00 price objective on shares of SLB in a research report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.35.

Insider Buying and Selling

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction dated 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 transaction, the director owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. The trade was a 10.55% decrease in their position. The sale 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.

SLB Stock Performance

Shares of SLB opened at $49.58 on Monday. The business’s fifty day simple moving average is $50.43 and its two-hundred day simple moving average is $50.80. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The company has a market cap of $73.59 billion, a price-to-earnings ratio of 23.95, a P/E/G ratio of 3.27 and a beta of 0.73.

SLB (NYSE:SLB) last posted its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. SLB had a return on equity of 14.05% and a net margin of 8.53%.The business had revenue of $8.97 billion during the quarter, compared to analyst estimates of $8.67 billion. During the same quarter last year, the company earned $0.74 EPS. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Research analysts anticipate that SLB Limited will post 2.5 earnings per share for the current fiscal year.

SLB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be issued a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio (DPR) is presently 57.00%.

SLB 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.