SLB Limited $SLB Position Lowered by Amalgamated Bank

Amalgamated Bank decreased its stake in shares of SLB Limited (NYSE:SLB) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 262,983 shares of the oil and gas company’s stock after selling 10,807 shares during the period. Amalgamated Bank’s holdings in SLB were worth $8,889,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Brighton Jones LLC raised its stake in SLB by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after acquiring an additional 1,166 shares during the period. Bison Wealth LLC bought a new position in SLB in the fourth quarter worth about $238,000. Koshinski Asset Management Inc. bought a new position in SLB in the first quarter worth about $240,000. Mather Group LLC. lifted its holdings in SLB by 17.3% in the first quarter. Mather Group LLC. now owns 5,470 shares of the oil and gas company’s stock worth $229,000 after acquiring an additional 807 shares during the last quarter. Finally, Keybank National Association OH lifted its holdings in SLB by 4.4% in the first quarter. Keybank National Association OH now owns 115,699 shares of the oil and gas company’s stock worth $4,836,000 after acquiring an additional 4,873 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Activity at SLB

In related news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the transaction, the insider owned 202,201 shares in the company, valued at $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is owned by corporate insiders.

SLB Price Performance

Shares of NYSE:SLB opened at $36.06 on Friday. The firm’s 50 day moving average is $34.90 and its two-hundred day moving average is $34.61. SLB Limited has a 52 week low of $31.11 and a 52 week high of $44.97. The firm has a market capitalization of $53.87 billion, a P/E ratio of 13.92, a PEG 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 (NYSE:SLB) last announced its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 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 company had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. During the same quarter last year, the business earned $0.89 earnings per share. SLB’s revenue was down 2.5% compared to the same quarter last year. Analysts anticipate that SLB Limited will post 3.38 earnings per share for the current year.

SLB Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SLB. Zacks Research raised shares of SLB from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Susquehanna cut their target price on shares of SLB from $44.00 to $42.00 and set a “positive” rating on the stock in a report on Monday, July 21st. Melius began coverage on shares of SLB in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 target price on the stock. JPMorgan Chase & Co. cut their target price on shares of SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Finally, UBS Group reissued a “buy” rating and issued a $44.00 target price on shares of SLB in a report on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, SLB presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.69.

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.