SLB Limited $SLB Shares Sold by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc lowered its position in shares of SLB Limited (NYSE:SLB) by 38.2% in the 1st quarter, Holdings Channel reports. The fund owned 771,849 shares of the oil and gas company’s stock after selling 477,403 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in SLB were worth $39,673,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of SLB. MV Capital Management Inc. acquired a new position in SLB during the 4th quarter valued at about $28,000. Steph & Co. increased its stake in shares of SLB by 97.5% in the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 394 shares during the period. Strategic Wealth Advisors LLC acquired a new stake in shares of SLB in the fourth quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of SLB during the fourth quarter valued at approximately $31,000. Finally, Lloyd Advisory Services LLC. bought a new stake in shares of SLB during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Morgan Stanley set a $57.00 price objective on SLB in a research report on Monday, April 27th. Weiss Ratings cut SLB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Citigroup lifted their target price on SLB from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Susquehanna boosted their price target on SLB from $60.00 to $65.00 and gave the stock a “positive” rating in a research report on Monday, April 27th. Finally, Evercore reissued an “outperform” rating and issued a $64.00 price target on shares of SLB in a research note on Monday, April 27th. 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 issued a Sell rating to the company’s stock. According to MarketBeat, SLB has a consensus rating of “Moderate Buy” and an average price target of $60.83.

Insiders Place Their Bets

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction 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 transaction, the director directly owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction 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 transaction, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.16% of the company’s stock.

SLB Stock Up 0.1%

SLB stock opened at $48.12 on Friday. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The company has a market capitalization of $71.95 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 1.95 and a beta of 0.70. The firm’s 50-day moving average is $54.69 and its two-hundred day moving average is $49.02. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35.

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 analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 EPS. On average, analysts forecast that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio is 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.