Godsey & Gibb Inc. Sells 13,297 Shares of SLB Limited $SLB

Godsey & Gibb Inc. decreased its holdings in SLB Limited (NYSE:SLB) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 527,785 shares of the oil and gas company’s stock after selling 13,297 shares during the period. SLB comprises about 2.0% of Godsey & Gibb Inc.’s investment portfolio, making the stock its 25th biggest holding. Godsey & Gibb Inc.’s holdings in SLB were worth $24,537,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Ardsley Advisory Partners LP purchased a new position in SLB in the 2nd quarter worth about $6,276,000. Friedenthal Financial purchased a new stake in shares of SLB during the 2nd quarter valued at about $1,072,000. Independence Bank of Kentucky grew its stake in shares of SLB by 15.8% in the second quarter. Independence Bank of Kentucky now owns 10,629 shares of the oil and gas company’s stock worth $494,000 after acquiring an additional 1,449 shares during the period. Generali Investments Management Co LLC grew its stake in shares of SLB by 5.8% in the second quarter. Generali Investments Management Co LLC now owns 10,761 shares of the oil and gas company’s stock worth $500,000 after acquiring an additional 594 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in shares of SLB by 9.3% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,556 shares of the oil and gas company’s stock valued at $351,000 after purchasing an additional 645 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Trading Down 1.9%

Shares of NYSE:SLB opened at $52.66 on Thursday. The stock has a 50 day moving average of $49.67 and a 200 day moving average of $51.04. The company has a market cap of $78.15 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 3.54 and a beta of 0.73. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82.

SLB (NYSE:SLB) last released its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. SLB had a net margin of 8.53% and a return on equity of 14.05%. The company had revenue of $8.97 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same quarter last year, the business earned $0.74 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. As a group, equities research analysts expect that SLB Limited will post 2.5 EPS for the current year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be paid a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.2%. SLB’s dividend payout ratio is 57.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein raised their target price on shares of SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Royal Bank Of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of SLB in a research note on Tuesday, June 16th. Weiss Ratings reissued a “hold (c)” rating on shares of SLB in a report on Monday, August 3rd. Wolfe Research started coverage on SLB in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price target on the stock. Finally, Citigroup cut their price objective on SLB from $68.00 to $63.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.35.

About SLB

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.