SLB Limited $SLB Shares Sold by Capital Group Investment Management PTE. LTD.

Capital Group Investment Management PTE. LTD. reduced its holdings in shares of SLB Limited (NYSE:SLB) by 32.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 47,105 shares of the oil and gas company’s stock after selling 22,132 shares during the period. Capital Group Investment Management PTE. LTD.’s holdings in SLB were worth $1,619,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SLB. Synergy Asset Management LLC lifted its position in SLB by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 80,830 shares of the oil and gas company’s stock worth $2,732,000 after acquiring an additional 40,415 shares in the last quarter. Americana Partners LLC raised its stake in shares of SLB by 10.1% during the third quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company’s stock valued at $8,526,000 after purchasing an additional 22,706 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of SLB by 13.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 210,056 shares of the oil and gas company’s stock worth $7,220,000 after purchasing an additional 25,417 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of SLB by 4.9% in the third quarter. Nordea Investment Management AB now owns 2,157,885 shares of the oil and gas company’s stock valued at $72,354,000 after purchasing an additional 100,918 shares during the period. Finally, Bank Pictet & Cie Europe AG grew its holdings in SLB by 1,937.4% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company’s stock valued at $34,265,000 after purchasing an additional 948,015 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

SLB has been the topic of a number of recent analyst reports. Loop Capital set a $48.00 price objective on shares of SLB in a report on Tuesday, January 27th. Evercore set a $54.00 price target on SLB and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Citigroup raised their price objective on SLB from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Royal Bank Of Canada upped their target price on SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Finally, Stifel Nicolaus set a $56.00 price target on shares of SLB in a research report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.96.

SLB Stock Up 0.7%

Shares of SLB stock opened at $47.24 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. The firm has a market cap of $70.97 billion, a P/E ratio of 19.93, a P/E/G ratio of 3.19 and a beta of 0.68. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $52.45. The business has a 50-day moving average price of $47.92 and a 200 day moving average price of $40.17.

SLB (NYSE:SLB) last announced its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The firm had revenue of $9.75 billion for the quarter, compared to analysts’ expectations of $9.54 billion. During the same period last year, the business posted $0.92 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, sell-side analysts forecast that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Increases Dividend

The firm 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 represents a $1.18 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from SLB’s previous quarterly dividend of $0.29. SLB’s payout ratio is currently 49.79%.

Insider Activity

In other news, CFO Stephane Biguet sold 61,017 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $3,032,544.90. Following the sale, the chief financial officer directly owned 155,548 shares in the company, valued at approximately $7,730,735.60. This represents a 28.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director La Chevardiere Patrick De sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $50.29, for a total value of $201,160.00. Following the completion of the sale, the director directly owned 19,525 shares in the company, valued at approximately $981,912.25. This trade represents a 17.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 156,902 shares of company stock valued at $7,796,666 over the last quarter. Corporate insiders own 0.16% of the company’s stock.

SLB 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.