SLB Limited $SLB Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its stake in SLB Limited (NYSE:SLB) by 4.1% in the 1st quarter, Holdings Channel reports. The firm owned 3,887,548 shares of the oil and gas company’s stock after selling 166,255 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in SLB were worth $199,781,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Resona Asset Management Co. Ltd. lifted its position in shares of SLB by 2.0% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 476,660 shares of the oil and gas company’s stock valued at $24,508,000 after acquiring an additional 9,358 shares during the period. Isthmus Partners LLC lifted its position in shares of SLB by 3.1% in the first quarter. Isthmus Partners LLC now owns 286,514 shares of the oil and gas company’s stock valued at $14,724,000 after acquiring an additional 8,702 shares in the last quarter. Greenwood Capital Associates LLC acquired a new stake in shares of SLB during the 1st quarter worth about $4,598,000. Quantum Portfolio Management LLC purchased a new stake in SLB in the 1st quarter worth approximately $204,000. Finally, Lmcg Investments LLC grew its position in shares of SLB by 16.3% in the first quarter. Lmcg Investments LLC now owns 124,345 shares of the oil and gas company’s stock valued at $6,390,000 after purchasing an additional 17,441 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

SLB Price Performance

NYSE SLB opened at $47.27 on Friday. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The stock has a market cap of $70.67 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 1.92 and a beta of 0.72. The company has a 50-day moving average price of $52.81 and a two-hundred day moving average price of $49.91. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35.

SLB (NYSE:SLB) last posted its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.72 EPS. Analysts forecast that SLB Limited will post 2.6 EPS for the current year.

SLB Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd were issued a dividend of $0.295 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $1.18 annualized dividend and a yield of 2.5%. SLB’s payout ratio is presently 51.53%.

Insiders Place Their Bets

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were 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 directly owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction 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 completion of the transaction, the director owned 16,953 shares in the company, valued at $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SLB has been the subject of several research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of SLB in a research report on Tuesday, June 16th. TD Cowen decreased their price target on SLB from $66.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. UBS Group dropped their price objective on SLB from $69.00 to $66.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Citigroup cut their target price on shares of SLB from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Finally, Weiss Ratings downgraded shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $59.74.

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.