SLB Limited $SLB Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lowered its stake in shares of SLB Limited (NYSE:SLB) by 32.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,311 shares of the oil and gas company’s stock after selling 17,750 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in SLB were worth $1,248,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hedges Asset Management LLC raised its holdings in SLB by 0.9% during the third quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock worth $1,203,000 after purchasing an additional 300 shares in the last quarter. Legacy Wealth Asset Management LLC increased its holdings in shares of SLB by 2.2% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock valued at $486,000 after purchasing an additional 308 shares in the last quarter. NewSquare Capital LLC increased its holdings in shares of SLB by 51.4% in the 2nd 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of SLB by 55.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 350 shares during the period. Finally, Choreo LLC raised its holdings in SLB by 0.8% during the second quarter. Choreo LLC now owns 45,222 shares of the oil and gas company’s stock worth $1,541,000 after purchasing an additional 357 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Peter John Coleman sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $35.82, for a total transaction of $197,010.00. Following the sale, the director owned 18,671 shares of the company’s stock, valued at $668,795.22. The trade was a 22.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephane Biguet sold 38,447 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $36.75, for a total value of $1,412,927.25. Following the completion of the sale, the chief financial officer directly owned 175,690 shares in the company, valued at $6,456,607.50. This represents a 17.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 103,947 shares of company stock worth $3,871,337 over the last three months. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Cowen restated a “buy” rating and set a $57.00 target price on shares of SLB in a research report on Thursday, December 11th. Zacks Research raised SLB from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Citigroup upped their price objective on shares of SLB from $47.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. lowered their target price on shares of SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of SLB in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, SLB has an average rating of “Moderate Buy” and an average price target of $52.42.

SLB Trading Up 4.7%

Shares of NYSE SLB opened at $40.19 on Monday. 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 stock has a market capitalization of $60.04 billion, a P/E ratio of 15.52 and a beta of 0.72. SLB Limited has a 52-week low of $31.11 and a 52-week high of $44.66. The stock’s 50 day moving average price is $37.28 and its two-hundred day moving average price is $35.53.

SLB (NYSE:SLB) last released its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. The firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. SLB’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.89 earnings per share. On average, analysts anticipate that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, December 3rd. SLB’s dividend payout ratio is currently 44.02%.

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.