SLB Limited $SLB Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lessened its position in SLB Limited (NYSE:SLB) by 22.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 69,470 shares of the oil and gas company’s stock after selling 20,482 shares during the period. Intech Investment Management LLC’s holdings in SLB were worth $2,388,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in SLB by 23.3% in the third quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock worth $6,371,335,000 after acquiring an additional 35,057,313 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of SLB by 30.4% in the 2nd quarter. Franklin Resources Inc. now owns 20,233,749 shares of the oil and gas company’s stock worth $683,901,000 after purchasing an additional 4,719,852 shares during the last quarter. Norges Bank bought a new stake in shares of SLB in the 2nd quarter worth approximately $618,697,000. Amundi lifted its stake in SLB by 29.9% during the second quarter. Amundi now owns 11,415,740 shares of the oil and gas company’s stock valued at $409,939,000 after purchasing an additional 2,624,679 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in SLB by 1.2% during the second quarter. Legal & General Group Plc now owns 9,681,754 shares of the oil and gas company’s stock worth $327,243,000 after buying an additional 114,190 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on SLB shares. Stifel Nicolaus set a $56.00 price target on shares of SLB in a research report on Monday, January 26th. Evercore set a $54.00 target price on SLB and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Wall Street Zen raised SLB from a “hold” rating to a “buy” rating in a report on Saturday. Citigroup lifted their price target on SLB from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, Loop Capital set a $48.00 price objective on SLB in a report on Tuesday, January 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.38.

SLB Trading Down 5.3%

Shares of NYSE SLB opened at $48.55 on Wednesday. The business has a 50-day moving average price of $47.16 and a two-hundred day moving average price of $39.78. SLB Limited has a one year low of $31.11 and a one year high of $52.45. The firm has a market capitalization of $72.95 billion, a PE ratio of 20.49, a PEG ratio of 3.49 and a beta of 0.68. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36.

SLB (NYSE:SLB) last released its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. The firm had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.54 billion. SLB had a net margin of 9.45% and a return on equity of 17.45%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 EPS. As a group, analysts predict that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This is a positive change from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a yield of 2.4%. SLB’s payout ratio is 49.79%.

Insider Transactions at SLB

In other SLB news, insider Dianne B. Ralston sold 18,617 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.50, for a total value of $921,541.50. Following the transaction, the insider directly owned 224,097 shares of the company’s stock, valued at $11,092,801.50. This represents a 7.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Howard Guild sold 13,268 shares of SLB stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $659,419.60. Following the sale, the chief accounting officer owned 22,407 shares of the company’s stock, valued at approximately $1,113,627.90. This represents a 37.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 156,902 shares of company stock valued at $7,796,666. Corporate insiders own 0.22% of the company’s stock.

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.