SLB Limited $SLB Shares Sold by Candriam S.C.A.

Candriam S.C.A. lessened its stake in SLB Limited (NYSE:SLB) by 9.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,967 shares of the oil and gas company’s stock after selling 20,248 shares during the quarter. Candriam S.C.A.’s holdings in SLB were worth $9,917,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SLB. Norges Bank acquired a new position in SLB during the fourth quarter worth about $809,557,000. Bank of New York Mellon Corp increased its holdings in SLB by 64.4% in the fourth 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 buying an additional 6,149,511 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of SLB by 50.6% during the 4th quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company’s stock valued at $638,473,000 after acquiring an additional 5,589,585 shares during the period. State Street Corp lifted its position in shares of SLB by 7.0% during the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock valued at $2,898,037,000 after acquiring an additional 5,466,786 shares during the period. Finally, Capital International Investors lifted its position in shares of SLB by 86.9% during the 4th quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock valued at $446,247,000 after acquiring an additional 5,404,948 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling at SLB

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the transaction, the director directly owned 16,953 shares of the company’s stock, valued at $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 SEC, which is available through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. This trade represents a 52.96% 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.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SLB. Evercore restated an “outperform” rating and issued a $64.00 price target on shares of SLB in a report on Monday, April 27th. Raymond James Financial reduced their price objective on SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a report on Friday. UBS Group decreased their target price on SLB from $69.00 to $66.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Sanford C. Bernstein upped their target price on SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, Weiss Ratings lowered SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.80.

SLB Stock Down 0.0%

Shares of NYSE SLB opened at $47.76 on Monday. The firm’s 50-day moving average is $52.65 and its two-hundred day moving average is $49.98. The company has a market capitalization of $71.40 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 1.94 and a beta of 0.72. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82. 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 issued its quarterly earnings data 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. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. During the same period last year, the company posted $0.72 EPS. The company’s revenue was up 2.7% on a year-over-year basis. Equities analysts anticipate that SLB Limited will post 2.59 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $1.18 annualized dividend and a yield of 2.5%. SLB’s dividend payout ratio (DPR) is presently 51.53%.

SLB Company 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.