Corient Private Wealth LLC Decreases Stock Holdings in SLB Limited $SLB

Corient Private Wealth LLC trimmed its position in shares of SLB Limited (NYSE:SLB) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 805,544 shares of the oil and gas company’s stock after selling 27,502 shares during the quarter. Corient Private Wealth LLC’s holdings in SLB were worth $30,926,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of SLB by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock worth $7,156,177,000 after purchasing an additional 1,080,999 shares during the last quarter. State Street Corp raised its position in SLB by 1.0% during the 4th quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company’s stock valued at $3,263,998,000 after purchasing an additional 799,218 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in SLB by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company’s stock valued at $2,072,844,000 after purchasing an additional 1,458,650 shares during the last quarter. Morgan Stanley lifted its holdings in SLB by 1.3% in the 4th quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company’s stock worth $1,423,716,000 after buying an additional 482,533 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in SLB by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock worth $1,292,993,000 after buying an additional 510,747 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SLB. Stifel Nicolaus boosted their target price on SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday. Wall Street Zen lowered SLB from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 price target on shares of SLB in a report on Sunday, April 26th. Morgan Stanley set a $57.00 price objective on shares of SLB in a research report on Monday, April 27th. Finally, The Goldman Sachs Group upped their price objective on shares of SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.83.

SLB Stock Up 0.1%

SLB stock opened at $48.12 on Monday. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The business’s 50 day moving average price is $54.69 and its two-hundred day moving average price is $49.11. 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 capitalization of $71.95 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 1.93 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, beating analysts’ consensus estimates of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. During the same quarter last year, the business posted $0.72 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts forecast that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be issued a $0.295 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.5%. SLB’s dividend payout ratio is 51.53%.

Insider Buying and Selling at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $2,664,111.78. This represents a 52.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction dated 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 owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. The trade was a 10.55% 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.

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.