Fiduciary Management Inc. WI Cuts Stake in SLB Limited $SLB

Fiduciary Management Inc. WI lowered its position in shares of SLB Limited (NYSE:SLB) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,227,636 shares of the oil and gas company’s stock after selling 541,581 shares during the period. SLB comprises approximately 1.8% of Fiduciary Management Inc. WI’s holdings, making the stock its 23rd largest holding. Fiduciary Management Inc. WI owned about 0.28% of SLB worth $162,257,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SLB. Vanguard Group Inc. increased its stake in shares of SLB by 23.3% during the third quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock valued at $6,371,335,000 after buying an additional 35,057,313 shares during the period. Norges Bank bought a new stake in SLB during the fourth quarter valued at about $809,557,000. Bank of New York Mellon Corp boosted its position in SLB by 64.4% during the fourth quarter. Bank of New York Mellon Corp now owns 15,696,831 shares of the oil and gas company’s stock valued at $602,444,000 after purchasing an additional 6,149,511 shares in the last quarter. State Street Corp boosted its position in SLB by 7.0% during the third quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock valued at $2,898,037,000 after purchasing an additional 5,466,786 shares in the last quarter. Finally, Greenhaven Associates Inc. bought a new stake in SLB during the fourth quarter valued at about $178,883,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the transaction, the director directly owned 16,953 shares in the company, valued at $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the transaction, the executive vice president owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

SLB has been the topic of a number of recent research reports. Sanford C. Bernstein raised their price objective on SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Barclays raised their price objective on SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. UBS Group raised their price objective on SLB from $61.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. raised their price objective on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Finally, The Goldman Sachs Group raised their price objective on SLB from $53.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.67.

SLB Price Performance

Shares of NYSE SLB opened at $54.79 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. The company has a market cap of $81.91 billion, a PE ratio of 23.92, a P/E/G ratio of 2.22 and a beta of 0.70. The business has a 50-day simple moving average of $54.22 and a two-hundred day simple moving average of $47.80. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82.

SLB (NYSE:SLB) last issued its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping the consensus estimate 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 company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $0.72 earnings per share. As a group, equities analysts expect that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio (DPR) is presently 51.53%.

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.