Hsbc Holdings PLC Decreases Stock Position in SLB Limited $SLB

Hsbc Holdings PLC reduced its holdings in shares of SLB Limited (NYSE:SLB) by 6.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,403,067 shares of the oil and gas company’s stock after selling 235,477 shares during the quarter. Hsbc Holdings PLC owned approximately 0.23% of SLB worth $130,635,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MV Capital Management Inc. purchased a new position in shares of SLB during the 4th quarter worth approximately $28,000. Strategic Wealth Advisors LLC purchased a new stake in SLB in the 4th quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in SLB during the 4th quarter valued at $31,000. Steph & Co. increased its position in SLB by 97.5% during the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after buying an additional 394 shares in the last quarter. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of SLB in the fourth quarter worth $31,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Stock Performance

Shares of SLB stock opened at $48.12 on Monday. SLB Limited has a one year low of $31.64 and a one year high of $58.82. 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 50 day moving average price of $54.69 and a 200 day moving average price of $49.11. The firm 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 announced its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating 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 company had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same quarter last year, the business earned $0.72 EPS. SLB’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts anticipate that SLB Limited will post 2.62 EPS for the current year.

SLB Announces Dividend

The company 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. 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 (DPR) is presently 51.53%.

Insider Transactions at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the business’s 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company’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 sale, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SLB shares. Barclays upped 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. Stifel Nicolaus boosted their target price on shares of SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday. Wall Street Zen cut shares of SLB from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. BMO Capital Markets boosted their price objective on shares of SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $61.00 target price on shares of SLB in a research report on Tuesday, June 16th. Three 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 assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.83.

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.