Great Lakes Advisors LLC Sells 882,100 Shares of SLB Limited $SLB

Great Lakes Advisors LLC decreased its stake in SLB Limited (NYSE:SLB) by 34.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,661,905 shares of the oil and gas company’s stock after selling 882,100 shares during the period. Great Lakes Advisors LLC’s holdings in SLB were worth $63,784,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SLB. Vanguard Group Inc. grew its holdings in shares of SLB by 23.3% in the 3rd quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock valued at $6,371,335,000 after acquiring an additional 35,057,313 shares in the last quarter. Norges Bank bought a new position in shares of SLB in the 4th quarter valued at about $809,557,000. Bank of New York Mellon Corp grew its holdings in shares of SLB by 64.4% in the 4th quarter. Bank of New York Mellon Corp now owns 15,696,831 shares of the oil and gas company’s stock valued at $602,444,000 after acquiring an additional 6,149,511 shares in the last quarter. State Street Corp grew its holdings in shares of SLB by 7.0% in the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock valued at $2,898,037,000 after acquiring an additional 5,466,786 shares in the last quarter. Finally, Capital International Investors grew its holdings in shares of SLB by 86.9% in the 4th quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock valued at $446,247,000 after acquiring an additional 5,404,948 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the sale, the executive vice president owned 47,421 shares in the company, valued at $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SLB. Weiss Ratings cut SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Stifel Nicolaus boosted their price target on SLB from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. The Goldman Sachs Group boosted their price target on SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Citigroup boosted their price target on SLB from $59.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Evercore reissued an “outperform” rating and set a $64.00 price target on shares of SLB in a research report on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, SLB has an average rating of “Moderate Buy” and a consensus price target of $60.67.

SLB Price Performance

Shares of NYSE SLB opened at $55.90 on Friday. The business’s 50 day moving average price is $54.52 and its two-hundred day moving average price is $48.45. The company has a market cap of $83.58 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 2.25 and a beta of 0.70. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82.

SLB (NYSE:SLB) last announced its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that SLB Limited will post 2.62 EPS for the current year.

SLB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB’s payout ratio is currently 51.53%.

SLB 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.