Hardman Johnston Global Advisors LLC Has $1.93 Million Stock Position in SLB Limited $SLB

Hardman Johnston Global Advisors LLC lowered its stake in SLB Limited (NYSE:SLB) by 38.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,023 shares of the oil and gas company’s stock after selling 35,265 shares during the period. Hardman Johnston Global Advisors LLC’s holdings in SLB were worth $1,926,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Hedges Asset Management LLC increased its holdings in SLB by 0.9% in the 3rd quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock valued at $1,203,000 after buying an additional 300 shares during the period. Legacy Wealth Asset Management LLC increased its stake in SLB by 2.2% in the second quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock valued at $486,000 after acquiring an additional 308 shares during the last quarter. NewSquare Capital LLC raised 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in SLB by 55.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 350 shares during the last quarter. Finally, Choreo LLC boosted its holdings in shares of SLB by 0.8% in the 2nd quarter. Choreo LLC now owns 45,222 shares of the oil and gas company’s stock valued at $1,541,000 after purchasing an additional 357 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was 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 directly owned 159,371 shares in the company, valued at $6,006,692.99. This trade represents a 27.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephane Biguet sold 38,447 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer owned 175,690 shares in the company, valued at $6,456,607.50. The trade was a 17.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 103,947 shares of company stock valued at $3,871,337. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

SLB has been the subject of a number of research analyst reports. Barclays lowered their price target on SLB from $48.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. JPMorgan Chase & Co. lowered their target price on SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. UBS Group increased their target price on shares of SLB from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Zacks Research raised shares of SLB from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Finally, Susquehanna increased their price objective on shares of SLB from $42.00 to $52.00 and gave the company a “positive” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.42.

SLB Stock Performance

SLB stock opened at $45.20 on Monday. The business has a 50 day moving average of $38.05 and a 200-day moving average of $35.87. The company has a market capitalization of $67.52 billion, a P/E ratio of 17.45 and a beta of 0.72. SLB Limited has a 1 year low of $31.11 and a 1 year high of $45.24. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01.

SLB (NYSE:SLB) last released its quarterly earnings results 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 net margin of 10.34% and a return on equity of 18.97%. The firm had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.99 billion. During the same quarter last year, the firm earned $0.89 earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, equities research analysts predict that SLB Limited will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd were given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Wednesday, December 3rd. SLB’s payout ratio is 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.