Boston Partners Trims Holdings in SLB Limited $SLB

Boston Partners lowered its stake in shares of SLB Limited (NYSE:SLB) by 56.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,675,184 shares of the oil and gas company’s stock after selling 11,154,197 shares during the period. Boston Partners owned 0.64% of SLB worth $293,140,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SLB. J.W. Cole Advisors Inc. raised its stake in SLB by 1.6% during the second quarter. J.W. Cole Advisors Inc. now owns 41,830 shares of the oil and gas company’s stock worth $1,414,000 after purchasing an additional 675 shares during the period. Elo Mutual Pension Insurance Co lifted its holdings in SLB by 2.8% in the second quarter. Elo Mutual Pension Insurance Co now owns 166,321 shares of the oil and gas company’s stock valued at $5,622,000 after acquiring an additional 4,528 shares during the last quarter. Laurel Wealth Advisors LLC lifted its holdings in SLB by 3,911.7% in the second quarter. Laurel Wealth Advisors LLC now owns 214,664 shares of the oil and gas company’s stock valued at $7,256,000 after acquiring an additional 209,313 shares during the last quarter. Insigneo Advisory Services LLC grew its position in SLB by 16.6% in the second quarter. Insigneo Advisory Services LLC now owns 15,436 shares of the oil and gas company’s stock worth $522,000 after acquiring an additional 2,201 shares during the period. Finally, Discerene Group LP increased its stake in SLB by 8.7% during the second quarter. Discerene Group LP now owns 1,755,290 shares of the oil and gas company’s stock worth $59,329,000 after acquiring an additional 140,025 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In related news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the completion of the transaction, the executive vice president owned 159,371 shares in the company, valued at $6,006,692.99. This represents a 27.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 138,174 shares of company stock worth $5,107,677. 0.22% of the stock is currently owned by insiders.

SLB Stock Up 0.5%

SLB stock opened at $35.89 on Wednesday. The firm has a market capitalization of $53.62 billion, a P/E ratio of 13.86, a P/E/G ratio of 10.19 and a beta of 0.97. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. SLB Limited has a twelve month low of $31.11 and a twelve month high of $44.66. The stock’s fifty day simple moving average is $35.06 and its 200-day simple moving average is $34.87.

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

SLB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio is currently 44.02%.

Analyst Ratings Changes

Several equities analysts have recently commented on SLB shares. Redburn Partners set a $48.00 price target on SLB in a research note on Monday, November 3rd. JPMorgan Chase & Co. cut their price objective on SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. UBS Group reaffirmed a “buy” rating and set a $44.00 target price on shares of SLB in a research note on Tuesday, October 21st. Finally, Citigroup boosted their price target on shares of SLB from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, SLB has an average rating of “Moderate Buy” and a consensus target price of $51.28.

SLB Company Profile

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.