Profund Advisors LLC Sells 14,576 Shares of SLB Limited $SLB

Profund Advisors LLC decreased its position in shares of SLB Limited (NYSE:SLB) by 18.0% during the third quarter, HoldingsChannel reports. The firm owned 66,548 shares of the oil and gas company’s stock after selling 14,576 shares during the period. Profund Advisors LLC’s holdings in SLB were worth $3,242,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Abel Hall LLC increased its position in shares of SLB by 2.7% during the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock valued at $387,000 after purchasing an additional 198 shares during the last quarter. E Fund Management Co. Ltd. lifted its position in SLB by 3.6% in the 2nd quarter. E Fund Management Co. Ltd. now owns 5,712 shares of the oil and gas company’s stock worth $266,000 after buying an additional 199 shares during the last quarter. TOWER TRUST & INVESTMENT Co lifted its position in SLB by 1.2% in the 3rd quarter. TOWER TRUST & INVESTMENT Co now owns 18,696 shares of the oil and gas company’s stock worth $911,000 after buying an additional 230 shares during the last quarter. Cypress Capital Group boosted its stake in SLB by 1.9% in the first quarter. Cypress Capital Group now owns 12,308 shares of the oil and gas company’s stock worth $633,000 after buying an additional 234 shares in the last quarter. Finally, Palisade Capital Management LP boosted its stake in SLB by 4.1% in the second quarter. Palisade Capital Management LP now owns 5,939 shares of the oil and gas company’s stock worth $276,000 after buying an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Trading Up 0.1%

NYSE:SLB opened at $53.78 on Monday. The firm has a market capitalization of $79.38 billion, a P/E ratio of 26.11, a P/E/G ratio of 2.98 and a beta of 0.83. The company has a quick ratio of 1.02, a current ratio of 1.39 and a debt-to-equity ratio of 0.41. The company has a fifty day moving average of $52.50 and a 200 day moving average of $51.37. SLB Limited has a 52 week low of $34.65 and a 52 week high of $60.46.

SLB (NYSE:SLB) last announced its quarterly earnings results on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. SLB had a net margin of 8.40% and a return on equity of 13.77%. The business had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same quarter last year, the firm earned $0.69 EPS. The company’s revenue was up 5.8% on a year-over-year basis. On average, research analysts predict that SLB Limited will post 2.46 earnings per share for the current year.

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Wednesday, December 2nd will be issued a dividend of $0.2950 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, December 2nd. SLB’s dividend payout ratio is currently 57.28%.

Insider Transactions at SLB

In related news, CAO Howard Guild sold 10,047 shares of the firm’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $53.65, for a total value of $539,021.55. Following the sale, the chief accounting officer directly owned 12,845 shares of the company’s stock, valued at $689,134.25. This trade represents a 43.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Dianne Ralston sold 20,986 shares of the firm’s stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $53.57, for a total value of $1,124,220.02. Following the completion of the sale, the insider directly owned 205,053 shares in the company, valued at $10,984,689.21. The trade was a 9.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Raymond James Financial reduced their price target on shares of SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. JPMorgan Chase & Co. upped their price objective on shares of SLB from $61.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Rothschild & Co Redburn increased their target price on shares of SLB from $66.00 to $68.00 and gave the company a “buy” rating in a report on Friday, September 25th. Morgan Stanley lifted their target price on shares of SLB from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Finally, Barclays decreased their target price on shares of SLB from $66.00 to $63.00 and set an “overweight” rating on the stock in a research report on Monday, October 26th. Twenty-four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, SLB presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.52.

SLB Profile

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.