Alliancebernstein L.P. Has $149.38 Million Holdings in SLB Limited $SLB

Alliancebernstein L.P. trimmed its position in shares of SLB Limited (NYSE:SLB) by 7.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,346,359 shares of the oil and gas company’s stock after selling 368,357 shares during the quarter. Alliancebernstein L.P. owned approximately 0.29% of SLB worth $149,384,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Lazard Asset Management LLC raised its stake in shares of SLB by 31.1% in the third quarter. Lazard Asset Management LLC now owns 8,897,810 shares of the oil and gas company’s stock valued at $305,818,000 after acquiring an additional 2,108,832 shares during the last quarter. Kelleher Financial Advisors acquired a new stake in SLB during the 3rd quarter valued at $68,000. Amundi increased its holdings in SLB by 24.4% during the 3rd quarter. Amundi now owns 14,198,874 shares of the oil and gas company’s stock valued at $491,139,000 after purchasing an additional 2,783,134 shares in the last quarter. Equitable Holdings Inc. raised its position in SLB by 317.3% in the 3rd quarter. Equitable Holdings Inc. now owns 48,031 shares of the oil and gas company’s stock valued at $1,651,000 after purchasing an additional 36,521 shares during the last quarter. Finally, Southport Management L.L.C. raised its position in SLB by 25.0% in the 3rd quarter. Southport Management L.L.C. now owns 25,000 shares of the oil and gas company’s stock valued at $859,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling

In other SLB news, Director La Chevardiere Patrick De sold 4,000 shares of SLB stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $50.29, for a total transaction of $201,160.00. Following the transaction, the director directly owned 19,525 shares in the company, valued at approximately $981,912.25. The trade was a 17.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Stephane Biguet sold 61,017 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $3,032,544.90. Following the completion of the transaction, the chief financial officer directly owned 155,548 shares of the company’s stock, valued at approximately $7,730,735.60. The trade was a 28.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 156,902 shares of company stock worth $7,796,666 over the last ninety days. Insiders own 0.16% of the company’s stock.

SLB Stock Performance

Shares of SLB stock opened at $44.95 on Tuesday. The stock has a market cap of $67.53 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 3.12 and a beta of 0.68. The stock has a 50-day moving average of $48.54 and a 200-day moving average of $40.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98. SLB Limited has a one year low of $31.11 and a one year high of $52.45.

SLB (NYSE:SLB) last released its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. The business had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.54 billion. SLB had a net margin of 9.45% and a return on equity of 17.45%. SLB’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 EPS. As a group, sell-side analysts expect that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be given a dividend of $0.295 per share. This is a positive change from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, February 11th. SLB’s payout ratio is 49.79%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Morgan Stanley reaffirmed an “overweight” rating and issued a $50.00 price target on shares of SLB in a report on Wednesday, January 21st. Freedom Capital downgraded shares of SLB from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. Citigroup increased their price objective on shares of SLB from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Wall Street Zen downgraded shares of SLB from a “buy” rating to a “hold” rating in a research note on Saturday. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.16.

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.