US Bancorp DE Sells 82,986 Shares of SLB Limited $SLB

US Bancorp DE lowered its position in shares of SLB Limited (NYSE:SLB) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 991,699 shares of the oil and gas company’s stock after selling 82,986 shares during the quarter. US Bancorp DE’s holdings in SLB were worth $38,062,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Pekin Hardy Strauss Inc. raised its position in shares of SLB by 5.9% during the fourth quarter. Pekin Hardy Strauss Inc. now owns 183,405 shares of the oil and gas company’s stock worth $7,039,000 after acquiring an additional 10,281 shares during the last quarter. Keybank National Association OH raised its position in shares of SLB by 7.5% during the fourth quarter. Keybank National Association OH now owns 113,951 shares of the oil and gas company’s stock worth $4,373,000 after acquiring an additional 7,963 shares during the last quarter. Archer Investment Corp raised its position in shares of SLB by 672.9% during the fourth quarter. Archer Investment Corp now owns 7,760 shares of the oil and gas company’s stock worth $298,000 after acquiring an additional 6,756 shares during the last quarter. Wealthfront Advisers LLC raised its position in shares of SLB by 2.2% during the fourth quarter. Wealthfront Advisers LLC now owns 210,666 shares of the oil and gas company’s stock worth $8,085,000 after acquiring an additional 4,615 shares during the last quarter. Finally, Samalin Investment Counsel LLC bought a new stake in shares of SLB during the fourth quarter worth $237,000. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SLB shares. Sanford C. Bernstein boosted their target price on SLB from $52.30 to $56.10 and gave the stock an “outperform” rating in a research report on Thursday, March 12th. Weiss Ratings upgraded SLB from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, April 22nd. Stifel Nicolaus boosted their target price on SLB from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. upped their price objective on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a report on Monday. Finally, Evercore reiterated an “outperform” rating and issued a $64.00 price objective on shares of SLB in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.95.

SLB Trading Up 2.2%

NYSE SLB opened at $56.93 on Friday. The stock has a 50-day simple moving average of $50.67 and a 200 day simple moving average of $44.29. The company has a market capitalization of $85.55 billion, a PE ratio of 24.86, a P/E/G ratio of 3.87 and a beta of 0.69. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. SLB Limited has a 12 month low of $31.64 and a 12 month high of $57.05.

SLB (NYSE:SLB) last released its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.72 earnings per share. Research analysts forecast that SLB Limited will post 2.64 EPS for the current year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio is currently 51.53%.

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.