Violich Capital Management Inc. Sells 1,900 Shares of SLB Limited $SLB

Violich Capital Management Inc. cut its position in SLB Limited (NYSE:SLB) by 6.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,250 shares of the oil and gas company’s stock after selling 1,900 shares during the quarter. Violich Capital Management Inc.’s holdings in SLB were worth $989,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Stratos Wealth Partners LTD. raised its position in SLB by 11.8% in the second quarter. Stratos Wealth Partners LTD. now owns 18,362 shares of the oil and gas company’s stock valued at $621,000 after purchasing an additional 1,934 shares during the last quarter. Smithbridge Asset Management Inc. DE raised its position in SLB by 6.8% in the second quarter. Smithbridge Asset Management Inc. DE now owns 30,749 shares of the oil and gas company’s stock valued at $1,039,000 after purchasing an additional 1,969 shares during the last quarter. Nordea Investment Management AB raised its position in SLB by 10.2% in the second quarter. Nordea Investment Management AB now owns 2,056,967 shares of the oil and gas company’s stock valued at $70,204,000 after purchasing an additional 191,205 shares during the last quarter. Praxis Investment Management Inc. raised its position in SLB by 5.0% in the second quarter. Praxis Investment Management Inc. now owns 83,456 shares of the oil and gas company’s stock valued at $2,821,000 after purchasing an additional 3,970 shares during the last quarter. Finally, Aware Super Pty Ltd as trustee of Aware Super bought a new position in SLB in the second quarter valued at about $9,818,000. 81.99% of the stock is currently owned by institutional investors.

SLB Trading Down 1.0%

Shares of SLB stock opened at $32.58 on Friday. The company has a market cap of $48.66 billion, a P/E ratio of 12.58, a PEG ratio of 9.11 and a beta of 0.97. The stock has a 50 day simple moving average of $34.49 and a two-hundred day simple moving average of $34.53. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $44.97.

SLB (NYSE:SLB) last issued its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.99 billion. SLB had a return on equity of 20.99% and a net margin of 11.53%.The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 earnings per share. Research analysts forecast that SLB Limited will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio (DPR) is 44.02%.

Insider Buying and Selling

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SLB. Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Jefferies Financial Group lowered their price objective on SLB from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, June 26th. JPMorgan Chase & Co. lowered their price objective on SLB from $46.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday, June 30th. Barclays lowered their price objective on SLB from $47.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, July 21st. Finally, Melius began coverage on SLB in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, SLB has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

About SLB

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.