SLB Limited $SLB Shares Sold by Bright Rock Capital Management LLC

Bright Rock Capital Management LLC reduced its stake in shares of SLB Limited (NYSE:SLB) by 53.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 130,000 shares of the oil and gas company’s stock after selling 150,000 shares during the quarter. Bright Rock Capital Management LLC’s holdings in SLB were worth $4,989,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SLB. Vanguard Group Inc. boosted its position in SLB by 23.3% during the third 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 grew its position in shares of SLB by 7.0% in the third 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 last quarter. Dimensional Fund Advisors LP increased its position in SLB by 25.2% during the third quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company’s stock worth $528,217,000 after buying an additional 3,094,764 shares in the last quarter. Northern Trust Corp increased its position in SLB by 10.7% during the 3rd quarter. Northern Trust Corp now owns 15,359,990 shares of the oil and gas company’s stock worth $527,923,000 after purchasing an additional 1,490,859 shares in the last quarter. Finally, Amundi grew its holdings in shares of SLB by 24.4% during the third quarter. Amundi now owns 14,198,874 shares of the oil and gas company’s stock worth $491,139,000 after buying an additional 2,783,134 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Price Performance

Shares of SLB opened at $51.47 on Tuesday. SLB Limited has a one year low of $31.11 and a one year high of $54.80. The firm has a market capitalization of $77.34 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 3.81 and a beta of 0.68. The stock’s fifty day moving average is $49.36 and its 200-day moving average is $41.48. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33.

SLB (NYSE:SLB) last posted its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The company had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.54 billion. During the same quarter in the previous year, the business earned $0.92 EPS. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities analysts anticipate that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, February 11th. This is a boost from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio is 49.79%.

Wall Street Analysts Forecast Growth

Several analysts have commented on SLB shares. Sanford C. Bernstein lifted their price target on SLB from $52.30 to $56.10 and gave the company an “outperform” rating in a report on Thursday, March 12th. Loop Capital set a $48.00 price target on SLB in a report on Tuesday, January 27th. Barclays increased their price objective on shares of SLB from $47.00 to $49.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Royal Bank Of Canada lifted their target price on SLB from $51.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Finally, Morgan Stanley restated an “overweight” rating and issued a $50.00 price target on shares of SLB in a research note on Wednesday, January 21st. 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.16.

Insider Buying and Selling at SLB

In other news, insider Dianne B. Ralston sold 18,617 shares of SLB stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.50, for a total value of $921,541.50. Following the transaction, the insider owned 224,097 shares of the company’s stock, valued at $11,092,801.50. This trade represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director La Chevardiere Patrick De sold 4,000 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $50.29, for a total value of $201,160.00. Following the sale, the director owned 19,525 shares of the company’s stock, valued at approximately $981,912.25. The trade was a 17.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 156,902 shares of company stock worth $7,796,666 over the last 90 days. 0.16% of the stock is currently owned by insiders.

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.