Kercheville Advisors LLC Lowers Holdings in SLB Limited $SLB

Kercheville Advisors LLC lowered its position in SLB Limited (NYSE:SLB) by 37.1% during the 1st quarter, Holdings Channel reports. The firm owned 21,400 shares of the oil and gas company’s stock after selling 12,600 shares during the quarter. Kercheville Advisors LLC’s holdings in SLB were worth $1,100,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SLB. Vanguard Group Inc. grew its position in shares of SLB by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock worth $7,156,177,000 after buying an additional 1,080,999 shares in the last quarter. State Street Corp raised its holdings in shares of SLB by 1.0% in the fourth quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company’s stock valued at $3,263,998,000 after acquiring an additional 799,218 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in SLB by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company’s stock worth $2,072,844,000 after acquiring an additional 1,458,650 shares during the period. Morgan Stanley grew its holdings in SLB by 1.3% during the 4th quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company’s stock worth $1,423,716,000 after acquiring an additional 482,533 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in SLB by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock worth $1,292,993,000 after acquiring an additional 510,747 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Stock Performance

Shares of SLB stock opened at $47.93 on Wednesday. The company has a market capitalization of $71.66 billion, a PE ratio of 20.93, a P/E/G ratio of 1.92 and a beta of 0.70. The company has a 50-day simple moving average of $54.52 and a two-hundred day simple moving average of $49.27. SLB Limited has a one year low of $31.64 and a one year high of $58.82. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34.

SLB (NYSE:SLB) last released its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $8.76 billion. During the same period last year, the business earned $0.72 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. Research analysts expect that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be issued a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s payout ratio is currently 51.53%.

Analyst Ratings Changes

A number of research analysts have commented on SLB shares. Morgan Stanley set a $57.00 target price on shares of SLB in a research report on Monday, April 27th. Sanford C. Bernstein increased their price objective on shares of SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Wall Street Zen lowered shares of SLB from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Evercore reissued an “outperform” rating and issued a $64.00 price objective on shares of SLB in a research note on Monday, April 27th. Finally, The Goldman Sachs Group upped their target price on SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, SLB currently has an average rating of “Moderate Buy” and an average price target of $60.83.

Insiders Place Their Bets

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’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 sale, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the director owned 16,953 shares in the company, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.