SVB Wealth LLC Cuts Stake in SLB Limited $SLB

SVB Wealth LLC reduced its stake in shares of SLB Limited (NYSE:SLB) by 26.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,350 shares of the oil and gas company’s stock after selling 12,041 shares during the quarter. SVB Wealth LLC’s holdings in SLB were worth $1,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in SLB. Root Financial Partners LLC purchased a new stake in SLB during the 3rd quarter valued at approximately $29,000. Strategic Wealth Advisors LLC purchased a new stake in SLB during the 4th quarter valued at approximately $30,000. Strengthening Families & Communities LLC purchased a new stake in SLB during the 3rd quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in SLB during the 4th quarter valued at approximately $31,000. Finally, Steph & Co. grew its holdings in SLB by 97.5% during the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 394 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

SLB Trading Up 3.3%

Shares of SLB stock opened at $55.00 on Tuesday. SLB Limited has a 1 year low of $31.64 and a 1 year high of $57.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The stock’s 50 day simple moving average is $50.98 and its two-hundred day simple moving average is $45.21. The company has a market cap of $82.23 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 3.75 and a beta of 0.72.

SLB (NYSE:SLB) last announced its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The firm 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 company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. Research analysts predict that SLB Limited will post 2.61 earnings per share for the current year.

SLB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s payout ratio is presently 51.53%.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of research analyst reports. Citigroup increased their price objective on shares of SLB from $59.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, April 30th. UBS Group increased their price objective on shares of SLB from $61.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Royal Bank Of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of SLB in a report on Monday, April 27th. Argus raised shares of SLB to a “strong-buy” rating in a report on Monday, January 26th. Finally, Susquehanna raised their target price on shares of SLB from $60.00 to $65.00 and gave the company a “positive” rating in a report on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $59.74.

Insider Buying and Selling at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction 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 directly owned 16,953 shares of the company’s stock, valued at $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction on Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the transaction, the executive vice president directly owned 47,421 shares of the company’s stock, valued at $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is 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.