SLB Limited $SLB Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC trimmed its position in shares of SLB Limited (NYSE:SLB) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,734,172 shares of the oil and gas company’s stock after selling 64,667 shares during the period. Clearbridge Investments LLC owned approximately 0.18% of SLB worth $104,938,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SLB. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in SLB by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock valued at $126,303,000 after purchasing an additional 128,660 shares during the last quarter. Alberta Investment Management Corp bought a new stake in SLB in the 3rd quarter valued at about $3,334,000. Cibc World Market Inc. lifted its position in SLB by 48.7% in the 4th quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock valued at $52,468,000 after purchasing an additional 447,667 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in SLB by 65.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company’s stock valued at $7,898,000 after purchasing an additional 81,045 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in SLB by 2.5% in the 4th quarter. Principal Financial Group Inc. now owns 1,719,469 shares of the oil and gas company’s stock valued at $65,993,000 after purchasing an additional 42,212 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on SLB shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of SLB in a research report on Monday, April 27th. Piper Sandler raised their target price on shares of SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. UBS Group raised their target price on shares of SLB from $61.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Stifel Nicolaus raised their target price on shares of SLB from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Barclays raised their target price on shares of SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and a consensus target price of $60.67.

SLB Stock Up 3.0%

NYSE SLB opened at $56.52 on Tuesday. 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 company’s 50 day simple moving average is $54.30 and its 200 day simple moving average is $48.03. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The company has a market capitalization of $84.50 billion, a P/E ratio of 24.68, a PEG ratio of 2.22 and a beta of 0.70.

SLB (NYSE:SLB) last released 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. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same period in the previous year, the firm earned $0.72 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts expect that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB’s payout ratio is presently 51.53%.

Insider Buying and Selling

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $56.18, for a total value of $2,998,832.22. Following the sale, the executive vice president directly owned 47,421 shares in the company, valued at $2,664,111.78. The trade was a 52.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the completion of the sale, the director owned 16,953 shares in the company, valued at $921,056.49. The trade was a 10.55% 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.

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.