New York Life Investment Management LLC Sells 11,488 Shares of SLB Limited $SLB

New York Life Investment Management LLC lowered its position in SLB Limited (NYSE:SLB) by 5.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 204,633 shares of the oil and gas company’s stock after selling 11,488 shares during the quarter. New York Life Investment Management LLC’s holdings in SLB were worth $7,854,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SLB. Vanguard Group Inc. raised its stake in shares of SLB by 23.3% in the third 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 during the last quarter. State Street Corp raised its stake in shares of SLB by 7.0% in the third 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 during the last quarter. Greenhaven Associates Inc. bought a new position in shares of SLB in the fourth quarter valued at approximately $178,883,000. Caisse de depot et placement du Quebec raised its stake in shares of SLB by 10,422.1% in the third quarter. Caisse de depot et placement du Quebec now owns 3,165,581 shares of the oil and gas company’s stock valued at $108,801,000 after acquiring an additional 3,135,496 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of SLB by 25.2% in the third quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company’s stock valued at $528,217,000 after acquiring an additional 3,094,764 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

Shares of NYSE:SLB opened at $55.33 on Friday. The company has a market capitalization of $82.72 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 3.90 and a beta of 0.72. The firm’s 50 day simple moving average is $51.44 and its 200 day simple moving average is $45.70. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $57.20.

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, beating analysts’ consensus estimates of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same period last year, the company posted $0.72 EPS. SLB’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts forecast that SLB Limited will post 2.61 earnings per share for the current year.

SLB Announces Dividend

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

Insiders Place Their Bets

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the sale, the director owned 16,953 shares in the company, valued at $921,056.49. This represents a 10.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction 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 owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Freedom Capital cut shares of SLB from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. JPMorgan Chase & Co. raised their price target on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Bank of America raised their price target on shares of SLB from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 26th. TD Cowen raised their price target on shares of SLB from $55.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, Citigroup raised their price target on shares of SLB from $59.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.74.

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.