Skylands Capital LLC Sells 13,400 Shares of SLB Limited $SLB

Skylands Capital LLC reduced its holdings in SLB Limited (NYSE:SLB) by 15.2% in the 1st quarter, HoldingsChannel reports. The fund owned 74,900 shares of the oil and gas company’s stock after selling 13,400 shares during the period. Skylands Capital LLC’s holdings in SLB were worth $3,849,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SLB. Janney Montgomery Scott LLC grew its position in shares of SLB by 12.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 245,070 shares of the oil and gas company’s stock valued at $12,594,000 after buying an additional 27,234 shares during the last quarter. Horizon Bancorp Inc. IN increased its position in SLB by 36.4% during the 1st quarter. Horizon Bancorp Inc. IN now owns 4,930 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 1,315 shares during the period. apricus wealth LLC increased its position in SLB by 2.0% during the 1st quarter. apricus wealth LLC now owns 86,475 shares of the oil and gas company’s stock valued at $4,444,000 after purchasing an additional 1,735 shares during the period. Adams Natural Resources Fund Inc. raised its stake in SLB by 64.3% during the first quarter. Adams Natural Resources Fund Inc. now owns 552,633 shares of the oil and gas company’s stock worth $28,400,000 after buying an additional 216,200 shares during the last quarter. Finally, Cornerstone Wealth Group LLC acquired a new position in shares of SLB in the 1st quarter valued at about $254,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Wall Street Zen downgraded SLB from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. The Goldman Sachs Group raised their price objective on SLB from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Barclays boosted their price objective on SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Finally, UBS Group upped their target price on SLB from $61.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. 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 given a Sell rating to the company’s stock. According to data from MarketBeat, SLB currently has an average rating of “Moderate Buy” and a consensus price target of $60.83.

Insider Buying and Selling

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the transaction, the executive vice president directly owned 47,421 shares in the company, valued at $2,664,111.78. The trade was a 52.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the 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 sale, the director owned 16,953 shares in the company, valued at $921,056.49. This trade represents a 10.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is currently owned by company insiders.

SLB Stock Down 1.0%

SLB stock opened at $46.95 on Friday. The firm has a market capitalization of $70.19 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.89 and a beta of 0.70. The firm has a 50 day simple moving average of $54.22 and a 200 day simple moving average of $49.37. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35.

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 the consensus estimate of $0.51 by $0.01. The company had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 earnings per share. On average, analysts predict that SLB Limited will post 2.62 earnings per share for the current year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s dividend payout ratio 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.