PNC Financial Services Group Inc. Sells 255,941 Shares of SLB Limited $SLB

PNC Financial Services Group Inc. trimmed its position in SLB Limited (NYSE:SLB) by 23.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 829,618 shares of the oil and gas company’s stock after selling 255,941 shares during the period. PNC Financial Services Group Inc. owned 0.06% of SLB worth $28,041,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Atticus Wealth Management LLC bought a new stake in SLB during the second quarter valued at $29,000. Atlas Capital Advisors Inc. bought a new position in shares of SLB in the first quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in SLB by 55.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 350 shares in the last quarter. NewSquare Capital LLC lifted its position in SLB by 51.4% during the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 341 shares during the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in SLB in the 1st quarter worth approximately $40,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Trading Up 1.8%

NYSE:SLB opened at $36.95 on Friday. The firm has a market capitalization of $55.20 billion, a P/E ratio of 14.27, a P/E/G ratio of 10.19 and a beta of 0.97. SLB Limited has a 52 week low of $31.11 and a 52 week high of $44.97. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. The company has a fifty day moving average of $35.03 and a 200 day moving average of $34.76.

SLB (NYSE:SLB) last issued its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02. The firm had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 earnings per share. On average, research analysts predict that SLB Limited will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.1%. SLB’s payout ratio is 44.02%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SLB shares. UBS Group reaffirmed a “buy” rating and set a $44.00 price objective on shares of SLB in a report on Tuesday, October 21st. Redburn Partners set a $48.00 price objective on SLB in a report on Monday, November 3rd. Citigroup raised their price objective on SLB from $46.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Rothschild Redb raised SLB to a “strong-buy” rating in a research note on Monday, November 3rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, SLB presently has an average rating of “Moderate Buy” and a consensus target price of $51.28.

Insider Activity at SLB

In other SLB news, CFO Stephane Biguet sold 38,447 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $36.75, for a total value of $1,412,927.25. Following the completion of the transaction, the chief financial officer directly owned 175,690 shares in the company, valued at approximately $6,456,607.50. This represents a 17.95% 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, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the sale, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. The trade was a 16.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 138,174 shares of company stock worth $5,107,677 over the last quarter. 0.22% of the stock is owned by corporate insiders.

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.