BI Asset Management Fondsmaeglerselskab A S Sells 86,955 Shares of SLB Limited $SLB

BI Asset Management Fondsmaeglerselskab A S lessened its position in SLB Limited (NYSE:SLB) by 53.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 76,296 shares of the oil and gas company’s stock after selling 86,955 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in SLB were worth $3,921,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in SLB in the 4th quarter worth approximately $809,557,000. Bank of New York Mellon Corp boosted its stake in SLB by 64.4% during the 4th 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 during the last quarter. Wellington Management Group LLP increased its holdings in shares of SLB by 50.6% in the 4th quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company’s stock worth $638,473,000 after purchasing an additional 5,589,585 shares in the last quarter. State Street Corp increased its holdings in shares of SLB by 7.0% in the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock worth $2,898,037,000 after purchasing an additional 5,466,786 shares in the last quarter. Finally, Capital International Investors raised its stake in shares of SLB by 86.9% in the fourth quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock worth $446,247,000 after purchasing an additional 5,404,948 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Barclays upped their price target on SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Wall Street Zen downgraded SLB from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. JPMorgan Chase & Co. boosted their target price on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Citigroup upped their target price on shares of SLB from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, TD Cowen lifted their price objective on SLB from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 27th. 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.83.

SLB Stock Performance

SLB opened at $47.95 on Tuesday. The firm has a market cap of $71.69 billion, a P/E ratio of 20.94, a PEG ratio of 1.93 and a beta of 0.70. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The company has a 50 day simple moving average of $54.60 and a two-hundred day simple moving average of $49.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98.

SLB (NYSE:SLB) last announced its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (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 firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. During the same period in the prior year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts forecast that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be issued a dividend of $0.295 per share. The ex-dividend date of this dividend 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 currently 51.53%.

Insider Transactions at SLB

In related news, 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 sale, the director owned 16,953 shares in the company, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The transaction 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 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. This trade represents a 52.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by company 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.