Community Trust & Investment Co. Lowers Stake in SLB Limited $SLB

Community Trust & Investment Co. cut its holdings in shares of SLB Limited (NYSE:SLB) by 5.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 412,194 shares of the oil and gas company’s stock after selling 23,832 shares during the period. Community Trust & Investment Co.’s holdings in SLB were worth $19,163,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in SLB by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock valued at $7,156,177,000 after purchasing an additional 1,080,999 shares during the period. State Street Corp raised its stake in shares of SLB by 1.0% during the 4th quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company’s stock worth $3,263,998,000 after buying an additional 799,218 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of SLB by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company’s stock valued at $2,072,844,000 after buying an additional 1,458,650 shares in the last quarter. Morgan Stanley grew its stake in SLB by 1.3% in the 4th quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company’s stock valued at $1,423,716,000 after acquiring an additional 482,533 shares during the period. Finally, Geode Capital Management LLC grew its stake in SLB by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock valued at $1,292,993,000 after acquiring an additional 510,747 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SLB. Raymond James Financial reduced their price objective on shares of SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Sanford C. Bernstein boosted their target price on shares of SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Stifel Nicolaus upped their price target on shares of SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Morgan Stanley raised their price target on shares of SLB from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of SLB in a report on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, SLB has a consensus rating of “Moderate Buy” and an average price target of $61.35.

SLB Trading Down 2.0%

Shares of SLB opened at $50.52 on Friday. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82. The stock has a market cap of $74.98 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 3.40 and a beta of 0.73. The firm’s fifty day moving average is $49.84 and its two-hundred day moving average is $50.91. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41.

SLB (NYSE:SLB) last issued its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 earnings per share. Research analysts forecast 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. Shareholders of record on Wednesday, September 2nd will be issued a $0.295 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a yield of 2.3%. SLB’s dividend payout ratio is presently 57.00%.

About SLB

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.