Meyer Handelman Co. Cuts Stock Holdings in SLB Limited $SLB

Meyer Handelman Co. decreased its position in SLB Limited (NYSE:SLB) by 56.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,312 shares of the oil and gas company’s stock after selling 15,700 shares during the quarter. Meyer Handelman Co.’s holdings in SLB were worth $423,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC purchased a new stake in SLB in the 2nd quarter valued at about $25,000. Atticus Wealth Management LLC purchased a new position in shares of SLB in the 2nd quarter worth approximately $29,000. Corsicana & Co. bought a new position in shares of SLB in the third quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of SLB by 55.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 350 shares during the last quarter. Finally, NewSquare Capital LLC lifted its holdings in SLB by 51.4% during the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 341 shares during the period. 81.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Stephane Biguet sold 38,447 shares of the company’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $36.75, for a total transaction of $1,412,927.25. Following the sale, the chief financial officer directly owned 175,690 shares in the company, valued at $6,456,607.50. This represents a 17.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the completion of the sale, the executive vice president directly owned 159,371 shares in the company, valued at approximately $6,006,692.99. The trade was a 27.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 103,947 shares of company stock valued at $3,871,337. Corporate insiders own 0.22% of the company’s stock.

SLB Price Performance

SLB opened at $37.78 on Friday. The firm has a 50-day moving average price of $36.89 and a 200-day moving average price of $35.44. SLB Limited has a twelve month low of $31.11 and a twelve month high of $44.66. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $56.43 billion, a price-to-earnings ratio of 14.59 and a beta of 0.73.

SLB (NYSE:SLB) last announced its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. SLB had a net margin of 10.34% and a return on equity of 18.97%. The company had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.99 billion. During the same period in the prior year, the company posted $0.89 EPS. SLB’s revenue was down 2.5% compared to the same quarter last year. Equities analysts expect that SLB Limited will post 3.38 EPS for the current year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be given a $0.285 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.0%. SLB’s payout ratio is 44.02%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SLB. Citigroup raised their target price on SLB from $47.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. TD Cowen raised their price objective on shares of SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Barclays lowered their price objective on shares of SLB from $48.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a research note on Wednesday, October 8th. Finally, Sanford C. Bernstein raised their price target on shares of SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a research note on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.42.

SLB Company 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.