Twin Capital Management Inc. Sells 38,506 Shares of SLB Limited $SLB

Twin Capital Management Inc. decreased its position in shares of SLB Limited (NYSE:SLB) by 70.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 16,493 shares of the oil and gas company’s stock after selling 38,506 shares during the quarter. Twin Capital Management Inc.’s holdings in SLB were worth $567,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Synergy Asset Management LLC raised its stake in SLB by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 80,830 shares of the oil and gas company’s stock worth $2,732,000 after acquiring an additional 40,415 shares during the last quarter. Americana Partners LLC grew its stake in SLB by 10.1% during the 3rd quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company’s stock valued at $8,526,000 after purchasing an additional 22,706 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of SLB by 13.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 210,056 shares of the oil and gas company’s stock valued at $7,220,000 after purchasing an additional 25,417 shares during the period. Nordea Investment Management AB raised its stake in shares of SLB by 4.9% in the third quarter. Nordea Investment Management AB now owns 2,157,885 shares of the oil and gas company’s stock worth $72,354,000 after purchasing an additional 100,918 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG lifted its holdings in shares of SLB by 1,937.4% during the third quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company’s stock worth $34,265,000 after purchasing an additional 948,015 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In other news, insider Dianne B. Ralston sold 18,617 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.50, for a total transaction of $921,541.50. Following the completion of the transaction, the insider directly owned 224,097 shares of the company’s stock, valued at $11,092,801.50. This represents a 7.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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 transaction, the director owned 19,525 shares in the company, valued at $981,912.25. This trade represents a 17.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 260,849 shares of company stock valued at $11,668,003. 0.22% of the stock is owned by insiders.

SLB Stock Up 2.5%

SLB stock opened at $50.74 on Monday. SLB Limited has a one year low of $31.11 and a one year high of $51.67. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33. The firm’s fifty day moving average is $42.88 and its 200 day moving average is $37.72. The firm has a market cap of $75.87 billion, a PE ratio of 21.41, a P/E/G ratio of 3.45 and a beta of 0.72.

SLB (NYSE:SLB) last issued its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. SLB had a net margin of 9.45% and a return on equity of 17.45%. The business had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.54 billion. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The company’s revenue was up 5.0% compared to the same quarter last year. On average, research analysts forecast 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 issued a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This is an increase from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 2.3%. SLB’s dividend payout ratio is 48.10%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SLB shares. JPMorgan Chase & Co. increased their price target on shares of SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Rothschild & Co Redburn set a $48.00 price objective on shares of SLB in a research note on Monday, November 3rd. Evercore set a $54.00 target price on shares of SLB and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Royal Bank Of Canada increased their price target on SLB from $51.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Finally, Jefferies Financial Group lifted their price objective on SLB from $51.00 to $58.00 and gave the company a “buy” rating in a research note on Sunday, February 1st. 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.38.

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.