SLB Limited $SLB Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. reduced its holdings in SLB Limited (NYSE:SLB) by 26.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,543 shares of the oil and gas company’s stock after selling 27,433 shares during the period. Advisors Asset Management Inc.’s holdings in SLB were worth $2,665,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Twin Peaks Wealth Advisors LLC acquired a new stake in SLB during the 2nd quarter worth about $25,000. Root Financial Partners LLC purchased a new stake in shares of SLB in the third quarter worth about $29,000. Corsicana & Co. purchased a new stake in shares of SLB in the third quarter worth about $31,000. Strengthening Families & Communities LLC acquired a new stake in SLB during the third quarter worth about $31,000. Finally, 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 acquiring an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SLB shares. TD Cowen upped their price objective on SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. BMO Capital Markets boosted their target price on shares of SLB from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Royal Bank Of Canada raised their price target on shares of SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Argus raised shares of SLB to a “strong-buy” rating in a report on Monday, January 26th. Finally, Stifel Nicolaus set a $56.00 target price on shares of SLB in a research note on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, SLB has an average rating of “Moderate Buy” and an average price target of $52.38.

Insider Buying and Selling at SLB

In related news, Director Peter John Coleman sold 5,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total transaction of $197,010.00. Following the sale, the director directly owned 18,671 shares in the company, valued at approximately $668,795.22. This represents a 22.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephane Biguet sold 61,017 shares of SLB stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $3,032,544.90. Following the sale, the chief financial officer directly owned 155,548 shares of the company’s stock, valued at approximately $7,730,735.60. This trade represents a 28.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 162,402 shares of company stock valued at $7,993,676. 0.22% of the stock is currently owned by company insiders.

SLB Price Performance

SLB stock opened at $50.37 on Friday. The company has a fifty day simple moving average of $44.22 and a 200-day simple moving average of $38.24. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $75.33 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 3.43 and a beta of 0.73. SLB Limited has a 52-week low of $31.11 and a 52-week high of $52.40.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. SLB had a net margin of 9.45% and a return on equity of 17.45%. The firm had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.54 billion. During the same period in the previous year, the business posted $0.92 earnings per share. SLB’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities analysts anticipate that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be issued a dividend of $0.295 per share. This is a positive change from SLB’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, February 11th. This represents a $1.18 annualized dividend and a yield of 2.3%. SLB’s dividend payout ratio (DPR) is currently 49.79%.

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.